5885 W Van Giesen Street, West Richland, WA 99353
- $949,900
Listing courtesy of HomeSmart Elite Brokers.
- List Price
- $949,900
- Status
- ACTIVE
- MLS#
- 2580312
- Days on Market
- 1
- Annual Tax Ammount
- 3628
Property Description
This Self Storage Facility presents an outstanding opportunity to acquire a well-established income-producing asset in the rapidly growing West Richland market. The 90-unit self-storage facility offers strong in-place cash flow with significant upside potential through continued occupancy growth, operational modernization, and strategic improvements. Currently operating atapproximately 85% physical occupancy, the property features a highly functional unit mix designed to serve a broad range of residentialand commercial storage users. A standout feature is that every unit is equipped with individual power access, an amenity frequentlynot found in many competing facilities. The facility offers easy customer access with wide drive aisles, strong street visibility, and aconvenient location near expanding residential neighborhoods and major commuter corridors.The facilityoffers easy customer access with wide drive aisles, strong street visibility, and a convenient location near expanding neighborhoods and major commuter corridors. Thelist price reflects a cap rate of just over 7%, presenting investors with anattractive yield opportunity in an increasingly competitive self-storage sector. Additional value-add potential exists through security andtechnology enhancements, including online payment system and a website. The property also includes an easement area for theadjoining property's well head. Contact Listing Broker for financial information, rent roll, and showing instructions
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Additional Information
- Community
- Richland
- Building Condition
- Good
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1978
- Roof
- Composition
- Tax Year
- 2025
- Flooring
- Concrete
- Driving Directions
- HWY 240 Bypass, West of Van Giesen aka 224 through town. Located on the south side of the road.
- Electric Expenses
- 546
- Other Expenses
- 12193
- Energy Source
- Electric
- Net Operating Income
- $78,648
- Gross Scheduled Income
- $94,835
- Vacancy Rate
- 17
- Total Expenses
- $16,367
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.