Warehouse with Cold
For Sale
Contact for pricing
635 North 13th Avenue, Walla Walla, WA 99362
Warehouse building includes 3,500 square feet of cold storage and 1,500 square feet of office/retail space.
Property Size5,000 SF
Price / SF$130
Days on Market45
Property Features for 635 North 13th Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial, Mixed Use
Zoning
IH - Heavy Industrial
Building Details
Year Built
1994
Buildings
1
Tenancy
Single
Listing Agency:
Associated Appraisers of Walla Walla, LLC
(509) 522-2272
Listed By:
Michael Fredrickson · License #WA - 21009558
Source:
Crexi
Added: Jul 17
Changed: Aug 14
Last Checked: Aug 28 at 12:04PM
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 Associated Appraisers of Walla Walla, LLC
Investment Insights
Based on property information with market context.
Commercial building in a heavy industrial zone, offering a total of 5,000 square feet. The space is arranged with 3,500 square feet dedicated to cold storage and an additional 1,500 square feet for office/retail use. The building is currently leased to a winery.
The property is located at 635 North 13th Avenue in Walla Walla, with access that supports a variety of uses in the heavy industrial area.
For buyers evaluating an industrial purchase, the key functional breakout is cold storage alongside office/retail space within one warehouse facility that can serve multiple operational needs.
The property is located at 635 North 13th Avenue in Walla Walla, with access that supports a variety of uses in the heavy industrial area.
For buyers evaluating an industrial purchase, the key functional breakout is cold storage alongside office/retail space within one warehouse facility that can serve multiple operational needs.
Key Highlights
- 5,000 SF commercial building in Walla Walla heavy industrial zone
- Includes 3,500 SF cold storage
- Includes 1,500 SF office/retail area
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
$35,649
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
5.48%
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%
$712,980
$713.0K
Cap Rate 7%
$509,271
$509.3K
Cap Rate 9%
$396,100
$396.1K
Market Conditions
NOI Build-Up for 5,000 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
$45.0K $9.00/SF
− Vacancy
−$3.1K −$0.61/SF
EGI
$41.9K $8.39/SF
− OpEx
−$6.3K −$1.26/SF
NOI
$35.6K $7.13/SF
Area
Walla Walla County, WA
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$712,980
Cap Rate 7%
$509,271
Cap Rate 9%
$396,100
Alternative Uses
Best Use
Warehouse
$509.3K
$445.6K – $594.2K
NOI $35,649 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,368 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
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?
Refrigerated & cold storage - Warehouse building includes 3,500 square feet of cold storage and 1,500 square feet of office/retail space.
Where is this refrigerated & cold storage located?
The property is located at 635 North 13th Avenue Walla Walla, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,000 SF commercial building in Walla Walla heavy industrial zone; Includes 3,500 SF cold storage; Includes 1,500 SF office/retail area
