Flex Industrial
506 E Stover Rd Grandview, WA 98930
506 E Stover Rd, Grandview, WA, 98930
$540,000
For Sale
$540,000
Light industrial building with flexible layout and multiple use histories on a sizable lot.
Property Size3,000 SF
Lot Size0.73 Acres
Price / SF$180
Days on Market11
Property Features for 506 E Stover Rd
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.73 Acres
Listing agency
eXp Realty, LLC
(509) 840-1323
Listed by
Anwar Nassar · License #21012326
(509) 840-1323
Source
Exprealty
Added: Jul 12 Updated: Jul 22 at 5:50PM Checked: Jul 22 at 5:50PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This versatile light industrial property offers a functional interior layout in a 3,000-square-foot building. The site sits on 0.73 acres, and the property has been used as a banquet hall. The building has also previously operated as a construction company office, and the current owners had plans to convert the site into a daycare, underscoring its flexibility for different commercial or industrial concepts.
The property is located at 506 E Stover Rd in Grandview, WA. Public remarks indicate ample space for parking or potential expansion, and buyers should confirm all information to their satisfaction.
For buyers seeking an owner-occupant or redevelopment-style asset, this property is presented as a ready-to-fit building with room for site adjustments, subject to verification of all details during due diligence.
The property is located at 506 E Stover Rd in Grandview, WA. Public remarks indicate ample space for parking or potential expansion, and buyers should confirm all information to their satisfaction.
For buyers seeking an owner-occupant or redevelopment-style asset, this property is presented as a ready-to-fit building with room for site adjustments, subject to verification of all details during due diligence.
Key Highlights
- 3,000 SF light industrial building on 0.73 acres in Grandview
- Previously used as a construction company office; currently used as a banquet hall
- Flexible layout suited for a variety of commercial or industrial uses
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.7k | $12.24 |
| − Vacancy | −$2.8k | −$0.92 |
| EGI | $34.0k | $11.32 |
| − OpEx | −$5.1k | −$1.70 |
| NOI | $28.9k | $9.62 |
3,000 SF · lease $12.24/SF/yr · vacancy 7.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$412.4K
$360.9K – $481.2K
NOI $28,871 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$339.7K
$297.2K – $396.3K
NOI $23,776 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$609.2K
$533.1K – $710.8K
NOI $42,646 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Light industrial building with flexible layout and multiple use histories on a sizable lot.
Where is this flex space located?
The property is located at 506 E Stover Rd Grandview, WA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 3,000 SF light industrial building on 0.73 acres in Grandview; Previously used as a construction company office; currently used as a banquet hall; Flexible layout suited for a variety of commercial or industrial uses
