Former Honeywell Manufacturing
1500 W 1st St Cheney, WA 99004
1500 W 1st St, Cheney, WA, 99004
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For Sale
Contact for pricing
112,500 SF manufacturing facility on 10.08 acres.
Property Size112,501 SF
Lot Size10.08 Acres
Price / SF$66.67
Days on Market861
Property Features for 1500 W 1st St
General Information
- Standard status
- Active
- Size
- 112,501 SF
- Lot size
- 10.08 Acres
- Property subtype
- Industrial
Listing Agency
Kiemle Hagood
(509) 838-6541
Listed by
CRAIG SOEHREN · License #22137
Source
Crexi
Added: Mar 8, 2024 Checked: Jul 16 at 3:59 am
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
The Former Honeywell Building, a manufacturing facility with ±112,500 square feet, is located in Cheney, WA. Constructed in 1982, it was originally built as a microchip manufacturing plant for Honeywell. The building includes heavy power, concrete walls, and concrete roof trusses, and is situated on a 10.08-acre site. The current lease, held by Allpack, is structured as an “absolute net” lease, making the tenant responsible for all repairs and operating costs. The interior of the building is in good condition. Recent exterior improvements include a new roof completed in 2017 and new interior paint completed in 2019.
Key Highlights
- ±112,500 square foot manufacturing facility.
- Absolute net lease in place with Allpack, tenant responsible for all repairs and operating costs.
- Heavy power infrastructure suitable for manufacturing.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.01M | $9.00 |
| − Vacancy | −$86.1k | −$0.77 |
| EGI | $926.4k | $8.24 |
| − OpEx | −$277.9k | −$2.47 |
| NOI | $648.5k | $5.76 |
112,501 SF · lease $9.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Industrial
$9.26M
$8.11M – $10.81M
NOI $648,512 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$26.00M
$22.75M – $30.33M
NOI $1,819,708 @ 7.0% cap · market cap 24.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Manufacturing property - 112,500 SF manufacturing facility on 10.08 acres.
Where is this manufacturing property located?
The property is located at 1500 W 1st St Cheney, WA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: ±112,500 square foot manufacturing facility.; Absolute net lease in place with Allpack, tenant responsible for all repairs and operating costs.; Heavy power infrastructure suitable for manufacturing.
