Kennewick Self-Storage Facility For
517 North Johnson Street, Kennewick, WA 99336
For Sale
Contact for pricing
Pending
Self-storage facility in Kennewick, Washington with upside potential.
Property Size11,150 SF
Days on Market181
Property Features for 517 North Johnson Street
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Buildings
Listing Agency:
Cushman & Wakefield - Portland, Oregon
Listed By:
Jim Lewis · License OR #200412086
(503) 279-1743
Source:
Crexi
Added: May 18
Changed: Aug 8
Last Checked: Jul 29 at 9:32AM
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 Cushman & Wakefield - Portland, Oregon
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Investment Insights
Based on property information with market context.
AAA Affordable Mini Storage, constructed in 1994, is a self-storage facility featuring 93 drive-up units, totaling approximately 11,150 net rentable square feet, along with 29 open parking spaces. The property is currently approximately 94% occupied, indicating strong in-place fundamentals. The current rent averages approximately $1.03 per square foot, which is 28% below the weighted market average of $1.32 per square foot, offering immediate upside potential through rental increases and increasing street rates. The asset features paved drive aisles, efficient site circulation, keypad entry, and a simple operating profile, with minimal ongoing capital requirements. The property is centrally located within Kennewick, the largest and most established city in the Tri-Cities region of southeastern Washington, benefiting from proximity to residential neighborhoods, retail corridors, and regional employment.
Key Highlights
- High occupancy rate (~94%) indicates strong demand and stable income.
- Significant rental upside potential (28% below market average).
- Prime location in Kennewick, the largest city in the Tri‑Cities region.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,566
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,871,320
$1.9M
Cap Rate 7%
$1,336,657
$1.3M
Cap Rate 9%
$1,039,622
$1.0M
Market Conditions
NOI Build-Up for 11,150 SF
Gross rent
$144.5K $12.96/SF
− Vacancy
−$10.8K −$0.97/SF
EGI
$133.7K $11.99/SF
− OpEx
−$40.1K −$3.60/SF
NOI
$93.6K $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%
$1,871,320
Cap Rate 7%
$1,336,657
Cap Rate 9%
$1,039,622
Alternative Uses
Best Use
Self Storage
$1.34M
$1.17M – $1.56M
NOI $93,566 @ 7.0% cap · market cap 7.20%
Second Best
Industrial
$935.3K
$818.4K – $1.09M
NOI $65,468 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$3.09M
$2.71M – $3.61M
NOI $216,482 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
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Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Self storage facilities in Benton County, WA
Properties on Market for Self storage facilities in Benton County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage facility in Kennewick, Washington with upside potential.
Where is this self storage facility located?
The property is located at 517 North Johnson Street Kennewick, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High occupancy rate (~94%) indicates strong demand and stable income.; Significant rental upside potential (28% below market average).; Prime location in Kennewick, the largest city in the Tri‑Cities region.
