Industrial Processing
For Sale
Contact for pricing
1164 Dell Ave, Walla Walla, WA 99362
Multi-building industrial campus with production, dry and cold storage, loading, yard, rail access, and dedicated wastewater treatment.
Property Size230,000 SF
Lot Size30.00 Acres
Price / SF$66.30
Days on Market96
Property Features for 1164 Dell Ave
General Information
Standard status
Active
Size
230,000 SF
Lot size
30.00 Acres
Property subtype
INDUSTRIAL
Additional Details
Outdoor Storage
Yes
Heavy Power
Yes
Listing Agency:
StrickerCRE
(509) 430-8533
Listed By:
Derrick Stricker, CCIM, SIOR
(509) 430-8533
Source:
Moodyscre
Added: May 6
Changed: Jul 25
Last Checked: Jul 25 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of StrickerCRE
Investment Insights
Based on property information with market context.
A 230,000 SF industrial processing campus on approximately 30 acres in Walla Walla, Washington, formerly operated as a beverage manufacturing facility. The multi-building layout includes production and packaging areas, dry storage and cold storage, warehouse space, support areas, loading facilities, and a yard area.
The site is built for industrial throughput, with dock-high and grade-level loading, rail access via a rail spur into the loading area, and dedicated on-site wastewater treatment infrastructure. Electrical service includes heavy industrial power and multiple 3-phase power connections, supported by established industrial systems designed to accommodate ongoing operations.
The property also features substantial circulation and expansion potential within the campus setting. Buyer is responsible for verifying all information to their satisfaction.
The site is built for industrial throughput, with dock-high and grade-level loading, rail access via a rail spur into the loading area, and dedicated on-site wastewater treatment infrastructure. Electrical service includes heavy industrial power and multiple 3-phase power connections, supported by established industrial systems designed to accommodate ongoing operations.
The property also features substantial circulation and expansion potential within the campus setting. Buyer is responsible for verifying all information to their satisfaction.
Key Highlights
- ±230,000 SF multi‑building industrial processing campus on approx. 30 acres in Walla Walla, WA
- Former beverage manufacturing facility with production, packaging, dry storage, cold storage, warehouse, and support areas
- Loading includes dock‑high and grade‑level loading plus a yard area for vehicle circulation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,350,468
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$27,009,360
$27.0M
Cap Rate 7%
$19,292,400
$19.3M
Cap Rate 9%
$15,005,200
$15.0M
Market Conditions
NOI Build-Up for 230,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$2.07M $9.00/SF
− Vacancy
−$140.8K −$0.61/SF
EGI
$1.93M $8.39/SF
− OpEx
−$578.8K −$2.52/SF
NOI
$1.35M $5.87/SF
Area
Walla Walla County, WA
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$27,009,360
Cap Rate 7%
$19,292,400
Cap Rate 9%
$15,005,200
Alternative Uses
Best Use
Warehouse
$23.43M
$20.50M – $27.33M
NOI $1,639,854 @ 7.0% cap · market cap 10.75%
Second Best
Industrial
$19.29M
$16.88M – $22.51M
NOI $1,350,468 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$54.13M
$47.36M – $63.15M
NOI $3,788,928 @ 7.0% cap · market cap 24.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Multi-building industrial campus with production, dry and cold storage, loading, yard, rail access, and dedicated wastewater treatment.
Where is this manufacturing property located?
The property is located at 1164 Dell Ave Walla Walla, WA.
What is the asking price?
The asking price for this property is $15,250,000.
What are key features of this property?
This property features: ±230,000 SF multi‑building industrial processing campus on approx. 30 acres in Walla Walla, WA; Former beverage manufacturing facility with production, packaging, dry storage, cold storage, warehouse, and support areas; Loading includes dock‑high and grade‑level loading plus a yard area for vehicle circulation
