Newer Storage Facility Investment
For Sale
$4,900,000
4621 Southridge Blvd, Kennewick, WA 99338
Newer storage facility with expansion potential near Highway 395.
Property Size30,700 SF
Price / SF$96.46
Days on Market198
Property Features for 4621 Southridge Blvd
General Information
Standard status
Active
Size
30,700 SF
Property subtype
Industrial
Building Details
Building Size
30,700 SF
Year Built
2024
Listing Agency:
Retter & Company Sotheby's International Realty
Listed By:
Rob Ellsworth, CCIM · License #WA #17790
(509) 430-2378
Source:
Svn
Added: Mar 27
Changed: Oct 7
Last Checked: Oct 9 at 5:07PM
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 Retter & Company Sotheby's International Realty
Investment Insights
Based on property information with market context.
This newer storage facility offers an opportunity to expand an investment portfolio. Phase 1 is completed and operating at just over 60% occupancy. The listed price includes the seller completing construction of Phase 2, delivering a fully developed project. The property is fully fenced and equipped with security cameras, and offers keypad-controlled gate access. The site is situated with frontage near the interchange of Highway 395 and I-82, providing visibility and access from all directions. The seller is including a full build of Phase 2 at this price. The property size is 50800 square feet.
Key Highlights
- Seller will complete construction of Phase 2 at the listed price, delivering a fully developed project.
- Existing Phase 1 operating at over 60% occupancy.
- Ideally situated with frontage near the interchange of Highway 395 and I‑82, providing outstanding visibility and convenient access.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$426,293
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,525,860
$8.5M
Cap Rate 7%
$6,089,900
$6.1M
Cap Rate 9%
$4,736,589
$4.7M
Market Conditions
NOI Build-Up for 50,800 SF
Gross rent
$658.4K $12.96/SF
− Vacancy
−$49.4K −$0.97/SF
EGI
$609.0K $11.99/SF
− OpEx
−$182.7K −$3.60/SF
NOI
$426.3K $8.39/SF
Area
Benton County, WA
Vacancy
7.50%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,525,860
Cap Rate 7%
$6,089,900
Cap Rate 9%
$4,736,589
Alternative Uses
Best Use
Self Storage
$6.09M
$5.33M – $7.10M
NOI $426,293 @ 7.0% cap · market cap 8.70%
Second Best
Industrial
$4.26M
$3.73M – $4.97M
NOI $298,277 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$14.09M
$12.33M – $16.44M
NOI $986,304 @ 7.0% cap · market cap 20.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 99338, WA
19,117
Population
6,909
Households
2.8
Avg Household Size
37
Median Age
42%
College-Educated
94%
High-School Grad
35.5 sq mi
ZIP Area
539
Density / Sq Mi
$116,002
Median Household Income
$55,295
Median Earnings
$1,474
Median Rent
$526,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Newer storage facility with expansion potential near Highway 395.
Where is this self storage facility located?
The property is located at 4621 Southridge Blvd Kennewick, WA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Seller will complete construction of Phase 2 at the listed price, delivering a fully developed project.; Existing Phase 1 operating at over 60% occupancy.; Ideally situated with frontage near the interchange of Highway 395 and I‑82, providing outstanding visibility and convenient access.**
