Ephrata Self-Storage Investment
For Sale
Contact for pricing
328 Alder St SW, Ephrata, WA 98823
High-demand, 100% occupied self-storage facility with value-add potential.
Property Size3,440 SF
Price / SF$85.76
Days on Market168
Property Features for 328 Alder St SW
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Self Storage
Zoning
Industrial-Light
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$18,770
Building Details
Buildings
2
Units
32
Tenancy
Multi
Listing Agency:
Laura Mounter Real Estate
(509) 665-9200
Listed By:
Danny Zavala · License #131109
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 11 at 4:06PM
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 Laura Mounter Real Estate
Investment Insights
Based on property information with market context.
This self-storage facility is centrally located in the commercial core of Ephrata. The property is 100% occupied and draws consistent renters from nearby residential neighborhoods and the regional workforce. The site offers visibility and access near main roads, service businesses, and a substantial housing base. The facility features drive-up units for tenant access and quick turnarounds. The net rentable area is 3,360 square feet, with 32 units (2 units 10'x18', 30 units 10x10). The current gross potential income from existing rents is approximately $22,920 annually. Opportunities exist to add rentable square footage and improved site amenities. Ideas may include adding modular self-storage buildings to capture overflow demand and increase income per square foot, introducing covered canopy spaces for boat, RV, or contractor parking to attract higher-value users, or adding parameter fencing. The property size is 3,440 square feet.
Key Highlights
- 100% Occupied: Provides immediate income.
- Value‑Add Potential: Add rentable square footage and improve site amenities.
- Strategic Location: Excellent visibility and access.
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
$26,584
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
9.01%
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%
$531,680
$531.7K
Cap Rate 7%
$379,771
$379.8K
Cap Rate 9%
$295,378
$295.4K
Market Conditions
NOI Build-Up for 3,440 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
$41.3K $12.00/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$38.0K $11.04/SF
− OpEx
−$11.4K −$3.31/SF
NOI
$26.6K $7.73/SF
Area
Grant County, WA
Vacancy
8.00%
Lease Rate
$12.00 /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%
$531,680
Cap Rate 7%
$379,771
Cap Rate 9%
$295,378
Alternative Uses
Best Use
Self Storage
$379.8K
$332.3K – $443.1K
NOI $26,584 @ 7.0% cap · market cap 9.01%
Second Best
Industrial
$289.5K
$253.3K – $337.7K
NOI $20,263 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$747.3K
$653.9K – $871.8K
NOI $52,310 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 98823, WA
12,393
Population
4,646
Households
2.7
Avg Household Size
35
Median Age
17%
College-Educated
90%
High-School Grad
298.2 sq mi
ZIP Area
42
Density / Sq Mi
$77,361
Median Household Income
$46,929
Median Earnings
$956
Median Rent
$256,400
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 - High-demand, 100% occupied self-storage facility with value-add potential.
Where is this self storage facility located?
The property is located at 328 Alder St SW Ephrata, WA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 100% Occupied: Provides immediate income.; Value‑Add Potential: Add rentable square footage and improve site amenities.; Strategic Location: Excellent visibility and access.
