Warehouse and Mini Storage
For Sale
Contact for pricing
35007 N Newport Hwy, Chattaroy, WA 99003
Warehouse and mini storage facility with highway access and visibility.
Property Size4,320 SF
Lot Size1.06 Acres
Price / SF$127.08
Days on Market194
Property Features for 35007 N Newport Hwy
General Information
Standard status
Active
Size
4,320 SF
Class
B
Lot size
1.06 Acres
Property subtype
Industrial
Building Details
Year Built
1981
Listing Agency:
NAI Black - Spokane
(509) 623-1000
Listed By:
Darren Slackman · License #WA 873009951
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 11 at 12:30PM
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 NAI Black - Spokane
Investment Insights
Based on property information with market context.
This property features a total of 4,320 square feet of available space, situated on a 46,174 square foot lot. The property includes a 1,920 square foot warehouse and 2,400 square feet of mini storage space. Constructed in 1981, the warehouse is complemented by 12 storage units, each measuring 10 feet by 20 feet, which were built in 2023. A 50 foot by 40 foot metal shop is also located on the premises, equipped with two overhead doors, one measuring 12 feet by 10 feet and the other 10 feet by 10 feet. The site includes a bathroom and an owner’s clubhouse. The property benefits from high visibility and convenient access to Highway 2.
Key Highlights
- Great visibility & easy access to Hwy 2
- New (2023) mini storage units: 12 units (10’ x 20’)
- Large lot size: 46,174 sf
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
$37,921
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
6.91%
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%
$758,420
$758.4K
Cap Rate 7%
$541,729
$541.7K
Cap Rate 9%
$421,344
$421.3K
Market Conditions
NOI Build-Up for 4,320 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
$57.0K $13.20/SF
− Vacancy
−$2.9K −$0.66/SF
EGI
$54.2K $12.54/SF
− OpEx
−$16.3K −$3.76/SF
NOI
$37.9K $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%
$758,420
Cap Rate 7%
$541,729
Cap Rate 9%
$421,344
Alternative Uses
Best Use
Self Storage
$541.7K
$474.0K – $632.0K
NOI $37,921 @ 7.0% cap · market cap 6.91%
Second Best
Warehouse
$432.0K
$378.0K – $504.0K
NOI $30,239 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$998.2K
$873.5K – $1.16M
NOI $69,876 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 99003, WA
5,302
Population
2,115
Households
2.5
Avg Household Size
49
Median Age
20%
College-Educated
96%
High-School Grad
76.2 sq mi
ZIP Area
70
Density / Sq Mi
$71,624
Median Household Income
$42,727
Median Earnings
$850
Median Rent
$410,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Warehouse and mini storage facility with highway access and visibility.
Where is this self storage facility located?
The property is located at 35007 N Newport Hwy Chattaroy, WA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Great visibility & easy access to Hwy 2; New (2023) mini storage units: 12 units (10’ x 20’); Large lot size: 46,174 sf
