301 1st St N - L & W Safe Storage
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301 1st St N - L & W Safe Storage
31,130 SF Specialty Building Offered at $4,400,000 at a 5.87% Cap Rate in Yelm, WA 98597
Investment Highlights
- Great Track Record of Occupancy Between 99-100 on average in 2021 and 2022, 2023 dropped slightly due to rental increase but is at 95%
- Current Rents are estimated to be under market by roughly 18%
- Space to add approximately 36-40 more units.
Executive Summary
Prime commercial real estate opportunity in Yelm, Washington! A 275-unit storage complex with roughly 18% under local market rents and potential to add approximately 36-40 more units. Located in a thriving area, it offers a strategic advantage for investors. Benefit from strong tenant demand, strong historical occupancy, potential rental rate increases, and solid cash flow. With a high occupancy proven track record, this turnkey investment promises long-term appreciation and high returns. Don't miss out on this exceptional opportunity in Yelm's growing market.
This Property has Strong Track Record of Occupancy:
2021 - 99%-100%
2022 - 99%-100%
2023 - Rents increased Current Vacancy at 95%
Last Month Total Cash in: $28,745.23 at 95% Occupancy
If extra units added, increases Potential rental income by $3,840 Monthly and $46,080 Annually.
More information in reference to financials is available upon request. Feel free to reach out to me via email or phone. Tylerkanda@greenecommercial.com (360)-789-9846
This Property has Strong Track Record of Occupancy:
2021 - 99%-100%
2022 - 99%-100%
2023 - Rents increased Current Vacancy at 95%
Last Month Total Cash in: $28,745.23 at 95% Occupancy
If extra units added, increases Potential rental income by $3,840 Monthly and $46,080 Annually.
More information in reference to financials is available upon request. Feel free to reach out to me via email or phone. Tylerkanda@greenecommercial.com (360)-789-9846
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,400,000 | Property Subtype | Self-Storage |
| Price Per SF | $141 | Lot Size | 2.34 AC |
| Sale Type | Investment or Owner User | Building Size | 31,130 SF |
| Cap Rate | 5.87% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1980 |
| Price | $4,400,000 |
| Price Per SF | $141 |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.87% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Lot Size | 2.34 AC |
| Building Size | 31,130 SF |
| No. Stories | 1 |
| Year Built | 1980 |
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PROPERTY TAXES
| Parcel Number | 64421800600 | Improvements Assessment | $1,543,300 (2024) |
| Land Assessment | $541,500 (2024) | Total Assessment | $2,084,800 (2024) |
PROPERTY TAXES
Parcel Number
64421800600
Land Assessment
$541,500 (2024)
Improvements Assessment
$1,543,300 (2024)
Total Assessment
$2,084,800 (2024)
zoning
| Zoning Code | C-2 Heavy Commercial (https://www.codepublishing.com/WA/Yelm/html/Yelm18/Yelm1837.html) |
| C-2 Heavy Commercial (https://www.codepublishing.com/WA/Yelm/html/Yelm18/Yelm1837.html) |
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301 1st St N - L & W Safe Storage
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