Building Details

Year Built 2026

Stories 1

Units 1

Listing Agency: Latham Realty Unlimited

Listed By: Jeff Latham · License #25265 Show Phone

Source: Crexi

Added: Jul 27 Changed: Oct 7 Last Checked: Oct 12 at 9:07PM

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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.

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 / Yr

$5,179

Cap Rate

4.35%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $5,179 @ 7.0% cap · market cap 4.35%

Second Best

Self Storage

$62.2K

$54.5K – $72.6K (±1% cap)

NOI $4,357 @ 7.0% cap · market cap 3.66%

Theoretical Best

Office A

$133.0K

$116.4K – $155.2K (±1% cap)

NOI $9,309 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick HVAC Service Locksmith Bakery Grocery & Convenience Store Garden Center Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

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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 East Shop Avenue Chelan, WA.

What is the asking price?

The asking price for this property is $119,000.

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