1529 S Craig Rd
Airway Heights, WA 99001

Fairchild Mini Storage is a "diamond-in-the-rough” 46,440 net rentable square foot self-storage facility located in Airway Heights, Washington. The property sits on 4.67 acres and consists of seven single story buildings with 258 drive-up non climate units, and 42 outdoor parking spaces. There is also an 1,200 square foot one-bedroom apartment on-site, plus a profit producing U-Haul Franchise. The facility was built in1995 and is of metal skin wood-framed construction. The facility has numerous amenities including, but not limited to, security lighting, video surveillance, automatic keypad gates, perimeter chain link fencing and a full service on-site manager’s office. Fairchild Mini Storage has an entrance just off State Highway 2, a major thoroughfare in Eastern Washington that connects I-90 to Spokane and has traffic counts of approximately 20,000 per day. The facility sits in an area with an average household income of $67,000. Over 19,000 people live within a five-mile radius of the property. The local area is rapidly growing at an estimated rate of over 10 percent. A major contributing growth factor is the proximity to the Spokane/Coeur d’Alene area. Fairchild Mini Storage is also located near the entrance of the Fairchild Air Force Base, the host unit at Fairchild is the 92d Air Refueling Wing (92 ARW) assigned to the Air Mobility Command's Eighteenth Air Force. Additionally the Spokane Tribe of Indians has recently opened a new 38,000 sf full service casino just ½ a mile down Highway 2 from this facility. Amazon is set to open a 2.5 million square foot fulfillment center just 3.5 miles to the South. Airway Heights is a bedroom community with a backdrop to mountains, lakes and outdoor activities. Fairchild Mini Storage is family owned and operated. The owners have kept street rates significantly below market. While leaving additional land on-site for expansion of the unit mix. Simply raising rents to market standards, an investor should be able to achieve around a 7.31% pro forma CAP rate. As of the fall of 2018 the property is approximately 96 percent physically occupied.