Luxury Storage Locker
For Sale
$149,900
B-69-903 W Curie, Richland, WA 99354
Luxe storage locker with controlled heating and cooling, 24/7 gated access, security cameras, and power-ready interior improvements.
Property Size960 SF
Price / SF$156.15
Days on Market678
Property Features for B-69-903 W Curie
General Information
Standard status
Active
Size
960 SF
Taxes and HOA fees
Annual Taxes
$1,130
Listing Agency:
Windermere Group One/Tri-Cities
(509) 946-1188
Listed By:
Darla Cravens · License #109798
(509) 727-4786
Source:
Exprealty
Added: Nov 2, 2024
Changed: Sep 5
Last Checked: Sep 9 at 9:02PM
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 Windermere Group One/Tri-Cities
Investment Insights
Based on property information with market context.
This self-storage locker is offered as a Luxe unit within Luxe Lockers, featuring controlled heating and cooling and interior LED lighting. The unit includes 20 AMP power with additional electrical infrastructure roughed in for future tie-in and a planned 100 AMP panel, along with fully insulated construction. The locker also includes keyless access control through an electric key code gate system and is secured with security cameras.
Facility amenities include common water and hose bibs, a garbage dumpster, and an RV sewer dump site. The property is described as fully landscaped and managed under quality-controlled CCRs, with 24/7 access available for secured use.
In addition to the interior utilities and lighting, the facility offers a full public rest room with a sink and shower.
Facility amenities include common water and hose bibs, a garbage dumpster, and an RV sewer dump site. The property is described as fully landscaped and managed under quality-controlled CCRs, with 24/7 access available for secured use.
In addition to the interior utilities and lighting, the facility offers a full public rest room with a sink and shower.
Key Highlights
- Luxe storage locker with controlled heating and cooling (mini split).
- 24/7 gated access with electric key code and openers, plus security cameras.
- Interior has LED lighting and 20‑amp power.
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
$8,056
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
5.37%
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%
$161,120
$161.1K
Cap Rate 7%
$115,086
$115.1K
Cap Rate 9%
$89,511
$89.5K
Market Conditions
NOI Build-Up for 960 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
$12.4K $12.96/SF
− Vacancy
−$933 −$0.97/SF
EGI
$11.5K $11.99/SF
− OpEx
−$3.5K −$3.60/SF
NOI
$8.1K $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%
$161,120
Cap Rate 7%
$115,086
Cap Rate 9%
$89,511
Alternative Uses
Best Use
Self Storage
$115.1K
$100.7K – $134.3K
NOI $8,056 @ 7.0% cap · market cap 5.37%
Second Best
Warehouse
$85.8K
$75.0K – $100.1K
NOI $6,003 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$266.3K
$233.0K – $310.7K
NOI $18,639 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
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 - Luxe storage locker with controlled heating and cooling, 24/7 gated access, security cameras, and power-ready interior improvements.
Where is this self storage facility located?
The property is located at B-69-903 W Curie Richland, WA.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Luxe storage locker with controlled heating and cooling (mini split).; 24/7 gated access with electric key code and openers, plus security cameras.; Interior has LED lighting and 20‑amp power.
