Self Storage Portfolio with Drive-Up
For Sale
Contact for pricing
1529 S CRAIG RD, Airway Heights, WA 99001
Two secured storage facilities with drive-up unit access, plus RV/boat parking and wide lanes for efficient move-ins.
Property Size75,930 SF
Price / SF$96.14
Days on Market57
Property Features for 1529 S CRAIG RD
General Information
Standard status
Active
Size
75,930 SF
Property subtype
Self Storage
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1995
Tenancy
Multi
Listing Agency:
American RE Associates, Inc.
Listed By:
Ryan Layton · License #WA 27102
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 6 at 11:55AM
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 for-sale regional portfolio includes two self-storage assets designed for low-overhead operations and tenant security. Pleasant View Self Storage offers a blend of traditional drive-up storage units, ranging from 5x10 to 12x40, with dual roll-up doors, plus budget-friendly interior-corridor ground-level units. Fairchild Mini Storage is configured with high-ceiling, ground-level drive-up units (up to 12x40) alongside uncovered RV and boat parking spaces. Wide driveways are standard across both properties to accommodate large vehicle move-ins.
Pleasant View Self Storage is positioned immediately off I-90 (Exit 2) in Post Falls, Idaho, along a major corridor between Coeur d’Alene and Spokane. Fairchild Mini Storage is located just off Highway 2 on the West Plains of Spokane County, in an area supported by aerospace activity and large-scale regional distribution development, including growth tied to the Spokane International Airport.
Both facilities feature institutional security measures, including perimeter fencing, electronic keypad gate access, advanced LED lighting networks, and digital video surveillance. The unit mix supports a range of storage needs, while the Airway Heights property also includes an embedded revenue generator via an established U-Haul truck and trailer dealership on-site.
Pleasant View Self Storage is positioned immediately off I-90 (Exit 2) in Post Falls, Idaho, along a major corridor between Coeur d’Alene and Spokane. Fairchild Mini Storage is located just off Highway 2 on the West Plains of Spokane County, in an area supported by aerospace activity and large-scale regional distribution development, including growth tied to the Spokane International Airport.
Both facilities feature institutional security measures, including perimeter fencing, electronic keypad gate access, advanced LED lighting networks, and digital video surveillance. The unit mix supports a range of storage needs, while the Airway Heights property also includes an embedded revenue generator via an established U-Haul truck and trailer dealership on-site.
Key Highlights
- Two self‑storage facilities built in 1995: Pleasant View Self Storage and Fairchild Mini Storage
- Pleasant View Self Storage offers drive‑up unit mix including 5x10 to 12x40 units with dual roll‑up doors
- Fairchild Mini Storage features high‑ceiling, ground‑level drive‑up units up to 12 x 40 plus uncovered RV and boat parking
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
$666,514
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
9.13%
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%
$13,330,280
$13.3M
Cap Rate 7%
$9,521,629
$9.5M
Cap Rate 9%
$7,405,711
$7.4M
Market Conditions
NOI Build-Up for 75,930 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
$1.00M $13.20/SF
− Vacancy
−$50.1K −$0.66/SF
EGI
$952.2K $12.54/SF
− OpEx
−$285.6K −$3.76/SF
NOI
$666.5K $8.78/SF
Area
Spokane County, WA
Vacancy
5.00%
Lease Rate
$13.20 /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%
$13,330,280
Cap Rate 7%
$9,521,629
Cap Rate 9%
$7,405,711
Alternative Uses
Best Use
Self Storage
$9.52M
$8.33M – $11.11M
NOI $666,514 @ 7.0% cap · market cap 9.13%
Second Best
Warehouse
$7.59M
$6.64M – $8.86M
NOI $531,491 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$17.55M
$15.35M – $20.47M
NOI $1,228,171 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 99001, WA
8,859
Population
2,739
Households
3.2
Avg Household Size
34
Median Age
18%
College-Educated
91%
High-School Grad
8.0 sq mi
ZIP Area
1,107
Density / Sq Mi
$60,182
Median Household Income
$34,200
Median Earnings
$1,271
Median Rent
$281,100
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 - Two secured storage facilities with drive-up unit access, plus RV/boat parking and wide lanes for efficient move-ins.
Where is this self storage facility located?
The property is located at 1529 S CRAIG RD Airway Heights, WA.
What is the asking price?
The asking price for this property is $7,300,000.
What are key features of this property?
This property features: Two self‑storage facilities built in 1995: Pleasant View Self Storage and Fairchild Mini Storage; Pleasant View Self Storage offers drive‑up unit mix including 5x10 to 12x40 units with dual roll‑up doors; Fairchild Mini Storage features high‑ceiling, ground‑level drive‑up units up to 12 x 40 plus uncovered RV and boat parking
