2932 Isaacs Ave - Self-Storage Facilities FOR SALE


Walla Walla, WA 99362
$29,060,000 USD
208-938-4000
2932 Isaacs Ave, Walla Walla, WA for Sale
$29,060,000 USD
Self-Storage Facilities - FOR SALE
1/8
null | 6.42% Cap Rate

2932 Isaacs Ave
Walla Walla, WA 99362


HIGHLIGHTS

  • 6.42% current cap rate with compelling 17.82% IRR from substantial upside potential at the present 75% unit occupancy
  • Ideally located in world-class wine region, an area generating over $10 billion in annual economic impact
  • Whitman College, Walla Walla University, and Walla Walla Community College contribute to the long-term growth
  • Includes high demand climate control units with multiple potential opportunities to add units
  • Forward-looking local government with active initiatives to add 3,700 new homes and incentivize multi-family development

OVERVIEW

1. Exceptional Market Entry & Returns A rare opportunity to enter the booming Eastern Washington market with immediate scale at a 6.42% cap rate and substantial upside potential from the present 75% unit occupancy. This stabilized, income-producing portfolio delivers dependable cash flow today and projects a compelling 17.82% IRR based on 3% inflation and conservative unit occupancy growth. 2. Prime Location in an Expanding Economic Region Ideally situated in the heart of Washington’s world-class wine region, an area generating over $10 billion in annual economic impact, Walla Walla’s growing prominence continues to emerge as a nationally recognized tourism and relocation destination, fueling consistent and expanding self storage demand. Whitman College, Walla Walla University, and Walla Walla Community College and Center for Enology and Viticulture along with the DOC Washington State Penitentiary complex further contribute to the strong long-term growth and stability of the area. 3. Unmatched Visibility & Tenant Generation Boasting 3,040 feet of prominent frontage along multiple arterials with more than 14,000 vehicles passing daily, this portfolio enjoys billboard-level exposure that naturally converts drive-by traffic into long-term tenants, enhancing both occupancy and revenue growth. 4. Pro-Growth City & Rising Demand Walla Walla’s forward-looking local government is advancing major growth initiatives to add 3,700 new homes, accommodate multi-family development incentives, and create new commercial corridors. These new rooftops, additional renters, and new business, underscore a robust upward trend in local self storage demand. 5. Institutional-Grade Portfolio with Strategic Scale This opportunity consists of 6 separate locations in Walla Walla, delivering significant strategic advantages. Each site offers a diversity of unit types, sizes, and amenities supplying customers with a wide range of choices not available from other storage providers in the area. Walla Walla Self Storage is an institutional-grade platform with scale, diversification, and operational efficiency available in a single purchase. 6. Upside Through Expansion & Modernization Walla Walla Self Storage includes high-demand climate-controlled units with opportunities to expand at multiple locations, two of which feature unused office space with potential for rapid, cost-effective conversion. Recent capital upgrades include fiber internet installation supporting Bluetooth-enabled OpenTech key code and gate systems, as well as real-time monitoring of the high-definition security cameras.

FOR SALE DETAILS

PRICE

$29,060,000 USD

PRICE/SF

$151 USD /SF

CAP RATE

6.42%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mill Creek Self Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

ADD'L SUBTYPES

Parking Lot, Trailer/Camper Park

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.44 AC

LAND SF

541,886 SF

ZONING

-

APN/PARCEL ID

360715440056

ASK ABOUT THIS PROPERTY

Trevor CasterCaster Investment GroupMore Info
208-938-4000

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Trevor CasterCaster Investment GroupMore Info
208-938-4000

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