Self-Storage Condominium with Electric Access
For Sale
Contact for pricing
903 Curie Street, Richland, WA 99354
Flat, ground-level access and an electric access door support storage use in a fully fenced, gated facility with electricity.
Property Size504 SF
Price / SF$113.59
Days on Market503
Property Features for 903 Curie Street
General Information
Standard status
Active
Size
504 SF
Property subtype
INDUSTRIAL
Listing Agency:
Associated Appraisers of Walla Walla LLC
Listed By:
Michael Fredrickson · License #21009558
(509) 522-2272
Source:
Moodyscre
Added: Apr 28, 2025
Changed: Sep 9
Last Checked: Sep 12 at 10:48AM
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 Associated Appraisers of Walla Walla LLC
Investment Insights
Based on property information with market context.
The LuxeLocker Storage Condominiums include a 14’x36’ self-storage condominium unit with flat, ground level access and an electric, 14 foot electric access door. The unit is also equipped with electricity, and the facility provides on-site shared water and an RV sewage depository. The storage condominium is located inside a fully fenced facility with electric gate access.
Outside of insurance, taxes, and any applicable management fees, expenses are described as included in the owner’s CAM fees, helping simplify operating considerations.
This configuration supports owner-occupied storage and also works for commercial storage or potential rental use, depending on how the unit is managed.
Outside of insurance, taxes, and any applicable management fees, expenses are described as included in the owner’s CAM fees, helping simplify operating considerations.
This configuration supports owner-occupied storage and also works for commercial storage or potential rental use, depending on how the unit is managed.
Key Highlights
- 14’x36’ self‑storage condominium unit (504 SF)
- Flat, ground level access with an electric, 14 foot electric access door
- Electricity to the unit
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
$4,229
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
7.39%
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%
$84,580
$84.6K
Cap Rate 7%
$60,414
$60.4K
Cap Rate 9%
$46,989
$47.0K
Market Conditions
NOI Build-Up for 504 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
$6.5K $12.96/SF
− Vacancy
−$490 −$0.97/SF
EGI
$6.0K $11.99/SF
− OpEx
−$1.8K −$3.60/SF
NOI
$4.2K $8.39/SF
Area
Benton County, WA
Vacancy
7.50%
Lease Rate
$12.96 /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%
$84,580
Cap Rate 7%
$60,414
Cap Rate 9%
$46,989
Alternative Uses
Best Use
Self Storage
$60.4K
$52.9K – $70.5K
NOI $4,229 @ 7.0% cap · market cap 7.39%
Second Best
Warehouse
$45.0K
$39.4K – $52.5K
NOI $3,152 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$139.8K
$122.3K – $163.1K
NOI $9,785 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
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Business Placement
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Flat, ground-level access and an electric access door support storage use in a fully fenced, gated facility with electricity.
Where is this self storage facility located?
The property is located at 903 Curie Street Richland, WA.
What is the asking price?
The asking price for this property is $57,250.
What are key features of this property?
This property features: 14’x36’ self‑storage condominium unit (504 SF); Flat, ground level access with an electric, 14 foot electric access door; Electricity to the unit
