Self-Storage Facility with Individual
For Sale
$974,990
5885 Van Giesen, West Richland, WA 99353
COMMERCIAL - West Richland, WA
Property Size10,512 SF
Lot Size0.60 Acres
Price / SF$92.75
Days on Market85
Property Features for 5885 Van Giesen
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMCL GENERAL
Security features
Security Lighting
Exterior features
Security Light
Lot features
Loc in City Limits, Plat Recorded
Directions
Just past Grosscup if you are headed West on Van Giesen heading towards Benton City.
Standard status
Active
APN
131083030106001
Size
10,512 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5546
Utilities
Utilities
Electricity Available
Building Details
Year built
1978
Building materials
Block
Listing Agency:
HomeSmart Elite Brokers
(509) 371-9085
Listed By:
David Shinabarger · License #26866
(509) 947-8076
Added: May 28
Changed: Aug 18
Last Checked: Aug 20 at 4:06PM
MLS# 293326
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage property contains 90 units within a 10,512-square-foot facility on 0.6 acres. Each unit has individual power access, while wide drive aisles support on-site circulation. The improvements were built in 1978 and feature block construction, security lighting, and electricity available. The property is zoned COMMCL GENERAL.
Located at 5885 Van Giesen in West Richland, the facility has direct street presence and is currently operating at approximately 85% physical occupancy. The site also includes an easement area serving the adjoining property's well head. A reported cap rate of just over 7% is associated with the offering.
Located at 5885 Van Giesen in West Richland, the facility has direct street presence and is currently operating at approximately 85% physical occupancy. The site also includes an easement area serving the adjoining property's well head. A reported cap rate of just over 7% is associated with the offering.
Key Highlights
- 90‑unit self‑storage facility
- 10,512 square feet on 0.6 acres
- Approximately 85% physical occupancy
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
$88,212
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
9.05%
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%
$1,764,240
$1.8M
Cap Rate 7%
$1,260,171
$1.3M
Cap Rate 9%
$980,133
$980.1K
Market Conditions
NOI Build-Up for 10,512 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
$136.2K $12.96/SF
− Vacancy
−$10.2K −$0.97/SF
EGI
$126.0K $11.99/SF
− OpEx
−$37.8K −$3.60/SF
NOI
$88.2K $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 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%
$1,764,240
Cap Rate 7%
$1,260,171
Cap Rate 9%
$980,133
Alternative Uses
Best Use
Self Storage
$1.26M
$1.10M – $1.47M
NOI $88,212 @ 7.0% cap · market cap 9.05%
Second Best
Warehouse
$939.0K
$821.7K – $1.10M
NOI $65,733 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
NOI $204,095 @ 7.0% cap · market cap 20.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
85%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 99353, WA
17,934
Population
6,592
Households
2.7
Avg Household Size
37
Median Age
40%
College-Educated
93%
High-School Grad
25.8 sq mi
ZIP Area
695
Density / Sq Mi
$120,396
Median Household Income
$59,812
Median Earnings
$1,534
Median Rent
$407,600
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 - Established storage property with powered units, wide drive aisles, and customer access from Van Giesen Street.
Where is this self storage facility located?
The property is located at 5885 Van Giesen West Richland, WA.
What is the asking price?
The asking price for this property is $974,990.
What are key features of this property?
This property features: 90‑unit self‑storage facility; 10,512 square feet on 0.6 acres; Approximately 85% physical occupancy
