Ground-Level Self Storage
For Sale
$68,900
903 W Curie Street, Richland, WA
Commercial Sale, Richland, WA
Property Size560 SF
Price / SF$123.04
Days on Market178
Property Features for 903 W Curie Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUST /LIGHT
Directions
Heading north on Bypass Hwy 240, continue north on Stevens Drive to W. Curie St., turn right (east). Entrance to property is immediately on the right.
Standard status
Active
APN
123083020000006
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
515
Utilities
Utilities
Electricity Available
Building Details
Year built
2022
Flooring type
Concrete
Listing Agency:
Associated Appraisers of Wall
50952222
Listed By:
Jillice Beko · License #21035463
(509) 522-2272
Added: Apr 3
Changed: Sep 16
Last Checked: Sep 27 at 4:06PM
MLS# 291830
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage condominium was built in 2022 and provides a concrete-floored, ground-level storage unit with direct vehicle access. The unit includes an electric 14-foot roll-up door, electricity, and access to shared water. A month-to-month lease is in place, with management handled by LuxeLocker LLC.
The property is part of a fully fenced facility with electric gate entry. Additional site infrastructure includes an RV sewage depository, while utilities are covered through yearly CAM fees. Zoning is INDUST /LIGHT, and the property is located in Richland, Washington.
The property is part of a fully fenced facility with electric gate entry. Additional site infrastructure includes an RV sewage depository, while utilities are covered through yearly CAM fees. Zoning is INDUST /LIGHT, and the property is located in Richland, Washington.
Key Highlights
- 14'x40' storage unit with ground‑level vehicle access
- Electric 14 foot roll‑up access door
- Built in 2022 with concrete flooring
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
$4,699
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
6.82%
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%
$93,980
$94.0K
Cap Rate 7%
$67,129
$67.1K
Cap Rate 9%
$52,211
$52.2K
Market Conditions
NOI Build-Up for 560 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
$7.3K $12.96/SF
− Vacancy
−$544 −$0.97/SF
EGI
$6.7K $11.99/SF
− OpEx
−$2.0K −$3.60/SF
NOI
$4.7K $8.39/SF
Area
Benton County, WA
Vacancy
7.50%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$93,980
Cap Rate 7%
$67,129
Cap Rate 9%
$52,211
Alternative Uses
Best Use
Self Storage
$67.1K
$58.7K – $78.3K
NOI $4,699 @ 7.0% cap · market cap 6.82%
Second Best
Warehouse
$50.0K
$43.8K – $58.4K
NOI $3,502 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$155.3K
$135.9K – $181.2K
NOI $10,873 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Electric storage unit with vehicle-level access, a roll-up door, and utility service within a gated facility.
Where is this self storage facility located?
The property is located at 903 W Curie Street Richland, WA.
What is the asking price?
The asking price for this property is $68,900.
What are key features of this property?
This property features: 14'x40' storage unit with ground‑level vehicle access; Electric 14 foot roll‑up access door; Built in 2022 with concrete flooring
