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328 SW Alder St - 328 Alder St. SW Ephrata, WA 98823 3,440 SF Specialty Building Offered at $295,000 at a 6.36% Cap Rate in Ephrata, WA 98823
Executive Summary
Launch your real estate investment career in self storage with this affordable, centrally located facility in the heart of Ephrata’s commercial core. This 100% occupied, high-demand property pulls consistent renters from surrounding residential neighborhoods and the regional workforce, providing immediate in-place income and proven market strength. The site offers excellent visibility and access near main arterials, service businesses, and a substantial nearby housing base, making it a strategic location for long-term ownership. Facility features drive-up units for easy tenant access and quick turnarounds, creating an efficient, low-intensity asset. Site is ideal for value-add investors, with meaningful upside by adding rentable square footage and improved site amenities. Ideas may include adding modular self-storage buildings to capture overflow demand and increase income per square foot, introducing covered canopy spaces for boat, RV, or contractor parking to attract higher-value users, or adding parameter fencing. Net Rentable SQFT 3,360, 32 units (2 units 10'x18', 30 units 10x10), Current gross potential income from existing rents ~$22,920/annually, with clear opportunities to enhance performance. Let's get into Self Storage in 2026!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$22,920
|
$6.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$22,920
|
$6.66
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$4,149
|
$1.21
|
| Net Operating Income |
$18,771
|
$5.46
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $22,920 |
| Annual Per SF | $6.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $22,920 |
| Annual Per SF | $6.66 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $4,149 |
| Annual Per SF | $1.21 |
| Net Operating Income | |
|---|---|
| Annual | $18,771 |
| Annual Per SF | $5.46 |
Property Facts
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 130457000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $173,222 |
Property Taxes
Parcel Number
130457000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$173,222
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328 SW Alder St - 328 Alder St. SW Ephrata, WA 98823
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