15501 N Newport Hwy - Self-Storage Facilities FOR SALE


Mead, WA 99021
$5,100,000 USD
509-435-2424
15501 N Newport Hwy, Mead, WA for Sale
$5,100,000 USD
Self-Storage Facilities - FOR SALE
1/5
null | Request Cap Rate

15501 N Newport Hwy
Mead, WA 99021


HIGHLIGHTS

  • 45,200 NRSF | 268 Units | Avg $0.20/SF BELOW Market Rents
  • Serves N Spokane, Mead, Colbert, Lake Communities | Highway Frontage (AADT 24,000)
  • Updated Security System, Key Pad Automated Gated Access, Perimeter Fencing
  • Manager Residence on a separate parcel
  • On-Site Cell Tower Lease in Place

OVERVIEW

Discount Mini Storage is a great place to store your things. The facility is located in Mead, Washington, just north of Spokane, and it serves the North Spokane, Mead, Colbert, and Lake areas. The facility has 45,200 square feet of storage space with an 81% current physical occupancy rate. At that occupancy rate, there is certainly room to increase rents. In fact, the current rental rate of $0.75 per square foot is quite low in comparison to the average market rent of $1.00 per square foot. The facility includes four single-story buildings, a manager residence, and an on-site cell tower. The asking price for this property is $5,100,000. Seller financing is also available.

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$102 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Discount Mini Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

2.58 AC

LAND SF

112,385 SF

ZONING

Regional Commercial

APN/PARCEL ID

37341.1201,37341.1202

ASK ABOUT THIS PROPERTY

Ryan LaytonAmerican Real Estate Associates, IncMore Info
509-435-2424

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ryan LaytonAmerican Real Estate Associates, IncMore Info
509-435-2424

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.