101 Gala Ave - Refrigeration Cold Storage FOR SALE


Chelan, WA 98816
$3,250,000 USD
206-826-5787
101 Gala Ave, Chelan, WA for Sale
$3,250,000 USD
Refrigeration Cold Storage - FOR SALE
1/1
null | Request Cap Rate

101 Gala Ave
Chelan, WA 98816


OVERVIEW

Marcus & Millichap's Brown Retail Group & Secreto Self-Storage Team have been selected to exclusively market for sale Glacier West Chelan, a compelling value-add boat storage or light industrial opportunity located in Chelan, Washington. The Property is currently operated primarily as boat storage, with a portion leased to an industrial tenant (Empire Controls), offering multiple avenues for a new owner to enhance value through increased storage occupancy and/or conversion of portions of the Property to light industrial uses. Offered at an attractive $83/SF ($20.67/SF Land), the Property is priced well below the approximately $106/SF market pricing in the Chelan Valley and significantly below replacement cost, providing a compelling basis with meaningful downside protection for investors and owner-users. The Property is located within Chelan’s Industrial District, in a market where industrial vacancy across the Chelan Valley is currently 0%, creating favorable operating conditions driven by limited available space and minimal new development. Zoned W-I (Warehousing & Industrial), the Property allows for a broad range of warehouse, storage, and light industrial uses, offering flexible repositioning optionality. The site benefits from immediate proximity to the Apple Blossom Center, a major mixed-use development planned to include more than 425 residential units and future commercial space, reinforcing long-term growth and demand drivers throughout the East Chelan corridor. Additionally, the Chelan Valley attracts over 2 million visitors annually, generating more than $458 million in annual tourism revenue (2023) for Chelan County and supporting year-round demand from both visitors and residents. The Property is also located in Washington State, which imposes no state personal income tax, providing a favorable tax environment for investors and owner-users alike.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Glacier West Self-Storage

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Refrigeration Cold Storage

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1927

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

3

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.11

LAND SF

48,352

ZONING

WI

APN/PARCEL ID

46607

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

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