Self-Storage Portfolio with RV
For Sale
Contact for pricing
13415 E 32ND AVE, Spokane, WA 99203
Multi-building self-storage and retail portfolio with commercial zoning, RV parking, and additional income-producing business components.
Property Size115,817 SF
Price / SF$112.16
Days on Market55
Property Features for 13415 E 32ND AVE
General Information
Standard status
Active
Size
115,817 SF
Class
B
Total Parking Spaces
65
Property subtype
Retail, Mixed Use, Self Storage
Zoning
Mixed Use Commercial
Occupancy
91%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$735,547
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Self-Storage Units
468
Building Details
Year Built
1987
Year Renovated
1995
Buildings
16
Stories
1
Units
533
Tenancy
Multi
Construction
wood and steel frame
Listing Agency:
American RE Associates, Inc.
Listed By:
Ryan Layton · License #WA 27102
Source:
Crexi
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 4:03PM
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 American RE Associates, Inc.
Investment Insights
Based on property information with market context.
This 16-building commercial portfolio combines self-storage, RV parking, and multiple retail and service businesses. The storage component occupies 15 buildings with unit sizes ranging from 5x5 to 12x40, while 65 RV parking spaces range from 12x25 to 12x70. Construction includes wood and steel framing, and the property was built in 1987.
The broader portfolio includes a coffee stand, gas station, Subway, Mexican restaurant, nail salon, hair salon, and clothing boutique. A contracted Verizon cell tower is also located on the storage property. The site is positioned at the intersection of 32nd Ave and Hwy. 27, adjacent to several new residential developments and within a primarily residential area. Zoning is Mixed Use Commercial, and the property size is 115817 square feet.
The broader portfolio includes a coffee stand, gas station, Subway, Mexican restaurant, nail salon, hair salon, and clothing boutique. A contracted Verizon cell tower is also located on the storage property. The site is positioned at the intersection of 32nd Ave and Hwy. 27, adjacent to several new residential developments and within a primarily residential area. Zoning is Mixed Use Commercial, and the property size is 115817 square feet.
Key Highlights
- 16‑building portfolio with 15 storage buildings
- 65 RV parking spaces ranging from 12x25 to 12x70
- Storage units range from 5x5 to 12x40
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
$1,034,883
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
7.97%
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%
$20,697,660
$20.7M
Cap Rate 7%
$14,784,043
$14.8M
Cap Rate 9%
$11,498,700
$11.5M
Market Conditions
NOI Build-Up for 115,817 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
$1.60M $13.80/SF
− Vacancy
−$119.9K −$1.04/SF
EGI
$1.48M $12.77/SF
− OpEx
−$443.5K −$3.83/SF
NOI
$1.03M $8.94/SF
Area
Spokane, WA
Vacancy
7.50%
Lease Rate
$13.80 /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%
$20,697,660
Cap Rate 7%
$14,784,043
Cap Rate 9%
$11,498,700
Alternative Uses
Best Use
Specialty Retail
$20.08M
$17.57M – $23.43M
NOI $1,405,613 @ 7.0% cap · market cap 10.82%
Second Best
Mixed Use
$19.76M
$17.29M – $23.05M
NOI $1,383,289 @ 7.0% cap · market cap 10.65%
Theoretical Best
Office A
$29.88M
$26.15M – $34.86M
NOI $2,091,655 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 99203, WA
21,072
Population
9,742
Households
2.2
Avg Household Size
43
Median Age
57%
College-Educated
99%
High-School Grad
4.6 sq mi
ZIP Area
4,581
Density / Sq Mi
$95,532
Median Household Income
$56,122
Median Earnings
$1,243
Median Rent
$449,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Multi-building self-storage and retail portfolio with commercial zoning, RV parking, and additional income-producing business components.
Where is this self storage facility located?
The property is located at 13415 E 32ND AVE Spokane, WA.
What is the asking price?
The asking price for this property is $12,990,000.
What are key features of this property?
This property features: 16‑building portfolio with 15 storage buildings; 65 RV parking spaces ranging from 12x25 to 12x70; Storage units range from 5x5 to 12x40
