Self-Storage Unit with Climate
For Sale
Contact for pricing
73 E Shop Avenue #A12, Chelan, WA 98816
Condominium storage unit with heating, a man door, gated entry, and 125-amp electrical service.
Property Size507 SF
Price / SF$246.55
Days on Market35
Property Features for 73 E Shop Avenue #A12
General Information
Standard status
Active
Size
507 SF
Total Parking Spaces
4
Property subtype
Special Purpose
Zoning
Condominium
Additional Details
Power
125 amps
Amenities
climate control
125 amp electrical service
24/7 security
gated access
private clubhouse with bathrooms and meeting space
heating
Building Details
Year Built
2026
Stories
1
Units
58
Listing Agency:
Latham Realty Unlimited
(360) 795-5277
Listed By:
Jeff Latham · License #25265
Source:
Crexi
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 29 at 10:23PM
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 condominium storage unit measures 14.5 by 35 feet and was built in 2026. The space includes heating, climate control, a man door, and 125-amp electrical service, supporting storage of boats, RVs, cars, and recreational equipment as described for the community.
The property is part of Chelan Luxury Garages at 73 E Shop Avenue in Chelan, Washington. Community features include gated access, 24/7 security, and a private clubhouse with bathrooms and meeting space. The property is identified as condominium-zoned, with combination units also available.
The property is part of Chelan Luxury Garages at 73 E Shop Avenue in Chelan, Washington. Community features include gated access, 24/7 security, and a private clubhouse with bathrooms and meeting space. The property is identified as condominium-zoned, with combination units also available.
Key Highlights
- 507 sq ft unit measuring 14.5X35
- Heating, climate control, and a man door
- 125 amp electrical service
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
$5,179
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
4.14%
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%
$103,580
$103.6K
Cap Rate 7%
$73,986
$74.0K
Cap Rate 9%
$57,544
$57.5K
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
$6.5K $12.84/SF
− Vacancy
−$417 −$0.82/SF
EGI
$6.1K $12.02/SF
− OpEx
−$914 −$1.80/SF
NOI
$5.2K $10.22/SF
Area
Chelan County, WA
Vacancy
6.40%
Lease Rate
$12.84 /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%
$103,580
Cap Rate 7%
$73,986
Cap Rate 9%
$57,544
Alternative Uses
Best Use
Warehouse
$74.0K
$64.7K – $86.3K
NOI $5,179 @ 7.0% cap · market cap 4.14%
Second Best
Self Storage
$62.2K
$54.5K – $72.6K
NOI $4,357 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$133.0K
$116.4K – $155.2K
NOI $9,309 @ 7.0% cap · market cap 7.45%
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
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?
Self storage facility - Condominium storage unit with heating, a man door, gated entry, and 125-amp electrical service.
Where is this self storage facility located?
The property is located at 73 E Shop Avenue #A12 Chelan, WA.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 507 sq ft unit measuring 14.5X35; Heating, climate control, and a man door; 125 amp electrical service
