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417 Wellington Ave Walla Walla, WA 99362

Walla Walla, WA: 673 Units, High NOI

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional Class A self-storage portfolio in Walla Walla, Washington, presents a compelling investment opportunity. Comprising two locations – one at 417 Wellington Ave and another at 2548 E. Isaacs Ave – the portfolio encompasses a total of 673 units and 92,445 net rentable square feet. The Wellington Avenue location, built in 2018, currently boasts an 84% occupancy rate as of July 16, 2024, while the newer Isaacs Avenue location (built in 2023) has a 28% occupancy rate. Both properties feature a mix of drive-up and climate-controlled units, enhanced by secure access, surveillance systems, and convenient online payment options. The portfolio benefits from a strong local rental market, with an average rental rate near $1.09 per square foot and overall market occupancy near 90%. The current Net Operating Income (NOI) is $473,864, with a pro-forma NOI projected at $925,740. The properties sit on a combined 4.97 acres of commercially zoned land and are held in fee simple ownership. The portfolio utilizes Syrasoft storage software. The average household income in the area is $80,305. Seller financing is available. Offers are due August 13th, 2024. This is a stabilized facility with significant value-add potential.

Highlights

  • Two-property self-storage portfolio.
  • 673 total units, 92,445 net rentable square feet (NRSF).
  • Wellington Storage: 210 units, 26,370 NRSF, 84% occupancy.
  • Isaacs Storage: 463 units, 66,075 NRSF, 28% occupancy (opened August 2023).
  • $1.09/SF average market rent.
  • Market near 90% physical occupancy.

Property Details for 417 Wellington Ave

Property type
Self storage facilities
Square Feet
92,445 SF
Class
A
Buildings
15
Stories
1
Lot Size (sq. ft)
216,493 SF
Units
673

Location Insight

City
Walla Walla
County
Walla Walla
State
Washington
Latitude
46.0767071
Longitude
-118.310142

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FAQs

What type of property is this?
Self storage facility - Walla Walla, WA: 673 Units, High NOI
Where is the self storage facility located?
The property is located at 417 Wellington Ave Walla Walla, WA.
What are key features of this property?
This property features: Two-property self-storage portfolio.; 673 total units, 92,445 net rentable square feet (NRSF).; Wellington Storage: 210 units, 26,370 NRSF, 84% occupancy.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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(509) 435-2424

Contacts

Ryan Layton
Ryan Layton
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Wellington Ave
Walla Walla, WA 99362

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Wellington Ave
Walla Walla, WA 99362

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

417 Wellington Ave
  • Ryan Layton
    Ryan Layton
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