Heated Flex Space With Hydraulic
For Sale
$850,000
18553 Camp 12 Road, Leavenworth, WA 98826
Rural acreage combines utility access, irrigation water, and a substantial shop suited to storage, hobbies, or small-business operations.
Property Size6,000 SF
Lot Size5.00 Acres
Price / SF$141.67
Days on Market60
Property Features for 18553 Camp 12 Road
General Information
Standard status
Active
Size
6,000 SF
Lot size
5.00 Acres
Property subtype
Land
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$5,724
Building Details
Building Size
6,000 SF
Listing Agency:
Engel & Voelkers Mercer Island
(206) 232-2405
Listed By:
Kara Meloy
Source:
Justinhorvath
Added: Jun 9
Changed: Aug 2
Last Checked: Aug 7 at 1:40AM
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 Engel & Voelkers Mercer Island
Investment Insights
Based on property information with market context.
This flex-space property includes a 6,000-square-foot heated shop with room for equipment, vehicles, RVs, boats, workshops, and creative projects. A hydraulic lift is installed for mechanical work, while three-phase power is available at the street for future expansion. The property is identified for sale and includes 5 acres of gently sloped, usable land.
Located at 18553 Camp 12 Road in Leavenworth, the property has electricity, a private well, and irrigation water. The acreage provides space for a future homesite, hobby farm, livestock, gardens, or additional improvements, as described in the property information. Its rural setting offers privacy and additional room beyond the existing shop and utility infrastructure.
Located at 18553 Camp 12 Road in Leavenworth, the property has electricity, a private well, and irrigation water. The acreage provides space for a future homesite, hobby farm, livestock, gardens, or additional improvements, as described in the property information. Its rural setting offers privacy and additional room beyond the existing shop and utility infrastructure.
Key Highlights
- 6,000‑square‑foot heated shop
- 5 acres of gently sloped, usable land
- Hydraulic lift installed for mechanical use
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
$68,890
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
8.10%
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%
$1,377,800
$1.4M
Cap Rate 7%
$984,143
$984.1K
Cap Rate 9%
$765,444
$765.4K
Market Conditions
NOI Build-Up for 6,000 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
$115.2K $19.20/SF
− Vacancy
−$9.2K −$1.54/SF
EGI
$106.0K $17.66/SF
− OpEx
−$37.1K −$6.18/SF
NOI
$68.9K $11.48/SF
Area
Chelan County, WA
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,377,800
Cap Rate 7%
$984,143
Cap Rate 9%
$765,444
Alternative Uses
Best Use
Flex RnD
$984.1K
$861.1K – $1.15M
NOI $68,890 @ 7.0% cap · market cap 8.10%
Second Best
Warehouse
$875.6K
$766.2K – $1.02M
NOI $61,293 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,160 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98826, WA
7,280
Population
5,868
Households
1.2
Avg Household Size
49
Median Age
44%
College-Educated
95%
High-School Grad
1,015.6 sq mi
ZIP Area
7
Density / Sq Mi
$85,594
Median Household Income
$46,935
Median Earnings
$1,122
Median Rent
$639,700
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?
Flex space - Rural acreage combines utility access, irrigation water, and a substantial shop suited to storage, hobbies, or small-business operations.
Where is this flex space located?
The property is located at 18553 Camp 12 Road Leavenworth, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6,000‑square‑foot heated shop; 5 acres of gently sloped, usable land; Hydraulic lift installed for mechanical use
