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    LuxeLocker Storage Condominium Unit Title is generated by Realmo AI

    903 Curie Street, Richland, WA

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    14'x36' storage condominium with electric door and shared utilities.

    Type:INDUSTRIAL
    Property size:
    504 SF
    Lot size:
    5.32 Acres
    Price / SF:
    $115/SF
    Added:
    Apr 28, 2025
    Days on Market:
    390
    Last Refresh:
    Apr 5 at 8:12 pm

    Property Features for 903 Curie Street

    General Information

    Standard status
    Active
    Size
    504 SF
    Lot size
    5.32 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Michael Fredrickson
    Michael Fredrickson

    Listing agent Michael Fredrickson License #21009558

    Listing office Associated Appraisers of Walla Walla LLC

    Listing date Apr 28, 2025

    Source Moodyscre

    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

    HighLights

    • Ground‑level access with a 14‑foot electric door for easy entry and storage.
    • Suitable for personal, business/commercial storage, or rental income generation.
    • CAM fees cover all expenses except insurance, taxes, and management fees.
    • Includes electricity, on‑site shared water, and RV sewage depository.
    • Fully fenced facility with electric gate access for enhanced security.
    • Unit size: 14'x36'.

    Overview

    This LuxeLocker Storage Condominium unit, measuring 14'x36' (504 square feet), is suitable for personal use, business or commercial storage, or potential rental income. The unit features flat, ground-level access and a 14-foot electric access door. Electricity and on-site shared water are available, along with an RV sewage depository. The facility is fully fenced and features electric gate access. Owner's CAM fees include all expenses except for insurance, taxes, and any applicable management fees.

    Financial Insights

    Value Estimation Calculated for Self Storage

    Conservative
    $47.0K
    NOI $4,229 @ 9.00% cap · cautious / downside scenario
    Moderate
    $60.4K
    NOI $4,229 @ 7.00% cap · market / base-case scenario
    Aggressive
    $84.6K
    NOI $4,229 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Self Storage

    Component $ $/SF
    Gross rent $6.5k $12.96
    − Vacancy −$490 −$0.97
    EGI $6.0k $11.99
    − OpEx −$1.8k −$3.60
    NOI $4.2k $8.39
    504 SF · lease $12.96/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Self Storage
    $60.4K
    $52.9K – $70.5K (±1% cap)
    NOI $4,229 @ 7.0% cap · market cap 7.26%
    Second Best
    Industrial
    $42.3K
    $37.0K – $49.3K (±1% cap)
    NOI $2,959 @ 7.0% cap · market cap 5.08%
    Theoretical Best
    Office A
    $139.8K
    $122.3K – $163.1K (±1% cap)
    NOI $9,785 @ 7.0% cap · market cap 16.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Map

    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.375
    Latitude
    46.3568

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    FAQs

    What type of property is this?
    Self storage facility - 14'x36' storage condominium with electric door and shared utilities.
    Where is this self storage facility located?
    The property is located at 903 Curie Street Richland, WA.
    What is the asking price?
    The asking price for this property is $58,250.
    What are key features of this property?
    This property features: Ground‑level access with a **14‑foot electric door** for easy entry and storage.; Suitable for personal, business/commercial storage, or rental income generation.; CAM fees cover all expenses except insurance, taxes, and management fees.
    (509) 522-2272 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Fredrickson
    Michael Fredrickson
    Real Estate License ID: 21009558
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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