canyon road flex building

9424 Canyon Rd E., Puyallup, WA, Pierce 98371

Self Storage

RNC, Pierce County

Added: 2018-12-19 Updated: 2019-03-06

Active $2,050,000

This is a truly unique property that allows for an owner / user to own their space for free. The self storage and rental house income are more than adequate to cover mortgage on entire property. Owner user retail / industrial building available on Canyon Road in Puyallup. The property also includes a small self storage facility and rental house that generate over $135,000 per year in additional income, making this a true one of a kind opportunity. Use space features a 1,500 sqft retail showroom, with 2 offices, connected to a 6000 sqft warehouse. The property features a fully fence yard and extensive interior & exterior upgrades. The location of this building on 14,000 cars per day Canyon Road make this the ideal spot for any business. The location in South Tacoma is primed for growth and the area is experiencing very low vacancy sub 10% in industrial and office. This demand will continue as industry and population shift south and high barriers to entry restrict new supply. This property will continue to benefit from the highly visible location near a busy retail center.

Listing contacts

Andrew Hunter
SVN | Raven
(425) 375-5200

Documents

Sale Offering Memorandum

Median household income (5-mile radius) 82,042

Renters occupied (5-mile radius) 38%

Num of competitors (5-mile radius) 49

Sq.Ft. per capita (1-mile radius) 27.37

5x5 unit average price $57

5x10 unit average price $86

10x10 unit average price $143

Trailing 12 Month Cap Rate 7.75%

NOI $158,800

APN # 555551-5934

Lot Size (acres) 1.03

Zoning RNC, Pierce County

Physical Occupancy 95%

Year Built 1995

Analyze the location

Feasibility study

100% occupied 4,336 sqft self-storage facility generating $135,000 in income
Recently remodeled 6,800 sqft rented space
House on site can function as a rental for additional income or a live in manager or owner occupied unit
Property in located in a an area experiencing economic and population growth
Good balance of income streams from multiple tenants and property types provide a diversified property investment
Development potential with General Commercial zoning 45 ft height allowance and reduced setbacks
Property appraised in 2016 (available by request) for $1.8M

Located on busy Canyon Road in Puyallup

Drive Time:

▣ 0-5 minutes
▣ 6-10 minutes
▣ 11-15 minutes
▣ 16-20 minutes

canyon road flex building

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