Self-Storage Portfolio in Grant
For Sale
Contact for pricing
Pending
434 A St NE, Ephrata, WA 98823
Three self-storage properties with expansion upside in Washington's Columbia Basin.
Property Size101,424 SF
Days on Market101
Property Features for 434 A St NE
General Information
Standard status
Pending
Size
101,424 SF
Class
B
Property subtype
Self Storage
Occupancy
95%
Investment Type
Stabilized
Building Details
Year Built
1998
Buildings
35
Units
625
Tenancy
Single
Listing Agency:
American RE Associates, Inc.
Listed By:
Gregory Meager · License #123803
Source:
Crexi
Added: May 22
Changed: Aug 8
Last Checked: Jul 24 at 9:31AM
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.
The Yenney Storage portfolio comprises three self-storage properties strategically located across Ephrata and Soap Lake, Washington, serving the broader Grant County trade area within the Columbia Basin. The portfolio totals approximately 625 units plus outdoor parking, offering a diverse mix of unit sizes, drive-up access, and vehicle storage catering to residential, commercial, and recreational users. The assets benefit from strong visibility along key regional corridors, including Highway 28, and are positioned to capture demand from both local population growth and seasonal tourism traffic to Sun Lakes, Banks Lake, and Lake Roosevelt. The Basin St. and Soap Lake properties front Highway 28, which experiences an Average Daily Traffic (ADT) of 15,000 cars from Memorial Day to Labor Day, totaling 2.2 million cars per summer. The portfolio features a combination of established facilities with proven occupancy and newer construction (2015–2023), providing a balance of in-place cash flow and expansion upside. Collectively, the properties serve a broad rural trade area with limited institutional competition, supporting durable demand driven by agriculture, small business users, and recreational storage needs. The property size is 101424 square feet.
Key Highlights
- Strategically located self‑storage portfolio serving the broader Grant County trade area.
- Approximately 625 units plus outdoor parking, offering a diverse mix of unit sizes and drive‑up access.
- Strong visibility along key regional corridors, including Highway 28, with high traffic counts.
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
$597,438
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
8.72%
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%
$11,948,760
$11.9M
Cap Rate 7%
$8,534,829
$8.5M
Cap Rate 9%
$6,638,200
$6.6M
Market Conditions
NOI Build-Up for 101,424 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
$912.8K $9.00/SF
− Vacancy
−$59.3K −$0.59/SF
EGI
$853.5K $8.42/SF
− OpEx
−$256.0K −$2.52/SF
NOI
$597.4K $5.89/SF
Area
Grant County, WA
Vacancy
6.50%
Lease Rate
$9.00 /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%
$11,948,760
Cap Rate 7%
$8,534,829
Cap Rate 9%
$6,638,200
Alternative Uses
Best Use
Self Storage
$11.20M
$9.80M – $13.06M
NOI $783,805 @ 7.0% cap · market cap 11.44%
Second Best
Industrial
$8.53M
$7.47M – $9.96M
NOI $597,438 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$22.03M
$19.28M – $25.70M
NOI $1,542,294 @ 7.0% cap · market cap 22.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
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 - Three self-storage properties with expansion upside in Washington's Columbia Basin.
Where is this self storage facility located?
The property is located at 434 A St NE Ephrata, WA.
What is the asking price?
The asking price for this property is $6,850,000.
What are key features of this property?
This property features: Strategically located self‑storage portfolio serving the broader Grant County trade area.; Approximately 625 units plus outdoor parking, offering a diverse mix of unit sizes and drive‑up access.; Strong visibility along key regional corridors, including Highway 28, with high traffic counts.
