Climate-Controlled Flex
For Sale
Contact for pricing
73 E Shop Ave, Chelan, WA 98816
Secure, gated ownership includes climate control, heating, air conditioning, and 125-amp electrical service.
Property Size507 SF
Price / SF$299.80
Days on Market62
Property Features for 73 E Shop Ave
General Information
Standard status
Active
Size
507 SF
Property subtype
Self Storage, Special Purpose
Additional Details
Power
125 amps
Amenities
clubhouse
24/7 security
gated entry
Building Details
Year Built
2025
Stories
1
Units
58
Listing Agency:
Latham Realty Unlimited
(360) 795-5277
Listed By:
Jeff Latham · License #25265
Source:
Crexi
Added: Jun 30
Changed: Aug 29
Last Checked: Jul 3 at 1:52PM
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 Latham Realty Unlimited
Investment Insights
Based on property information with market context.
This 507-square-foot flex space measures 14.5 by 35 feet and is scheduled for construction in 2026. The unit includes climate control, heating, air conditioning, 125-amp electrical service, and a separate man door for convenient access. The configuration supports vehicle, equipment, storage, hobby, or workspace applications as described for the property.
Located at 73 E Shop Ave in Chelan, the property is within a gated community with 24/7 security. Ownership also provides access to a private clubhouse with bathrooms and meeting space. Optional build-out features include a mezzanine, bathroom addition, and epoxy flooring, allowing the interior to be adapted to specific operational or storage requirements.
Located at 73 E Shop Ave in Chelan, the property is within a gated community with 24/7 security. Ownership also provides access to a private clubhouse with bathrooms and meeting space. Optional build-out features include a mezzanine, bathroom addition, and epoxy flooring, allowing the interior to be adapted to specific operational or storage requirements.
Key Highlights
- 507 SF unit measuring 14.5 x 35 feet
- Climate control with heating and air conditioning
- 125‑amp electrical service and separate man door
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
$5,821
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
3.83%
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%
$116,420
$116.4K
Cap Rate 7%
$83,157
$83.2K
Cap Rate 9%
$64,678
$64.7K
Market Conditions
NOI Build-Up for 507 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
$9.7K $19.20/SF
− Vacancy
−$779 −$1.54/SF
EGI
$9.0K $17.66/SF
− OpEx
−$3.1K −$6.18/SF
NOI
$5.8K $11.48/SF
Area
Chelan County, WA
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$116,420
Cap Rate 7%
$83,157
Cap Rate 9%
$64,678
Alternative Uses
Best Use
Flex RnD
$83.2K
$72.8K – $97.0K
NOI $5,821 @ 7.0% cap · market cap 3.83%
Second Best
Warehouse
$74.0K
$64.7K – $86.3K
NOI $5,179 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$133.0K
$116.4K – $155.2K
NOI $9,309 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98816, WA
7,067
Population
5,398
Households
1.3
Avg Household Size
47
Median Age
24%
College-Educated
81%
High-School Grad
494.2 sq mi
ZIP Area
14
Density / Sq Mi
$73,807
Median Household Income
$40,565
Median Earnings
$1,332
Median Rent
$450,500
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?
Flex space - Secure, gated ownership includes climate control, heating, air conditioning, and 125-amp electrical service.
Where is this flex space located?
The property is located at 73 E Shop Ave Chelan, WA.
What is the asking price?
The asking price for this property is $152,000.
What are key features of this property?
This property features: 507 SF unit measuring 14.5 x 35 feet; Climate control with heating and air conditioning; 125‑amp electrical service and separate man door
