Deer Park Mini-Storage & Light Industrial PropertyFor Sale: $2,950,000

KDEW – 1109 N. Cedar Road, Deer Park, WA 99006
(Spokane County | APN: 26364.0024)Prime Investment Opportunity: Versatile Light Industrial Site with Self-Storage Income and Live-Work Appeal. Discover this exceptional 8.88-acre light industrial property, strategically located directly across from the Deer Park Airport in the growing Inland Northwest. Zoned LI (Light Industrial), the site combines operational flexibility, steady income from an existing 80-unit self-storage business, and premium live-work amenities following a major 2023 remodel. Ideal for investors, owner-operators, or developers, the property includes 5.05 acres of surplus/developable land suitable for additional storage units, yard storage, or expanded industrial operations. Key Property Features: Site & Land

  • Total: 8.88 acres (386,813 SF)

  • Primary improved area: 3.83 acres

  • Surplus/developable land: 5.05 acres

  • Level topography with excellent access via Cedar Road (approximately 1,700 ft north of Airport Road)

  • Ample room for outdoor storage, future expansion, or aviation-related uses

Warehouse/Office Building

  • 15,400 SF total (built 1990, significantly expanded and remodeled in 2023)

  • Includes a modern 3,400 SF high-end office/living space with radiant floor heating, 9-ft walls, gourmet kitchen, and contemporary finishes—ideal for caretaker residence or on-site management

  • Remaining ~12,000 SF warehouse space supports light industrial activities

  • Recent upgrades include new landscaping, parking lot, and entrance for enhanced curb appeal

Self-Storage Facilities

  • Two buildings (built 1995) totaling 10,296 SF with 80 units (two 5,148 SF buildings, 40 units each)

  • Low-maintenance asset in a market with strong demand from local residents and airport users

Condition & Utilities

  • Overall superior condition following the 2023 remodel

  • Well-maintained with upgraded components for long-term usability

  • Utilities: City water, sewer, and 3-phase electricity

  • No known soil contamination (per 2020 appraisal, extraordinary assumption)

Highest & Best Use
Continued light industrial and mini-storage operations, with significant expansion potential on the surplus land for additional storage buildings or industrial development. Location Highlights: Directly opposite the Deer Park Airport entrance, the property offers excellent visibility and convenience for aviation, aerospace, drone, or aircraft-related businesses. Located in a low-density area with abundant vacant land, it remains just 20–30 minutes from Spokane’s urban amenities, major highways (including US-395), and regional industrial hubs. The site benefits from Spokane’s resilient commercial trends, including e-commerce-driven demand for flexible industrial and storage space. Proximity to the growing airport supports specialty occupancy opportunities such as aircraft parts storage, restoration, or manufacturing. Income & Investment Potential: Current Revenue
The mini-storage business currently generates approximately $65,000–$85,000 annually, with upside potential through rate adjustments or new units on the surplus land. Additional Leasing Opportunities
The warehouse/office space offers leasing potential at $8–$12/SF NNN, consistent with local industrial market rents. Versatile Income Streams

  • Operate as-is for stable self-storage cash flow

  • Lease the warehouse for light industrial tenants

  • Utilize the high-end live-work area for owner-occupied efficiency

Expansion on the 5.05-acre surplus parcel could drive substantial additional value in a market with ongoing demand for storage and flexible industrial space. Value Justification Based on a comprehensive market analysis as of September 2025, the property’s estimated market value is $2,950,000 (real estate only), reflecting strong appreciation since the 2020 appraisal of $1,750,000. Key value drivers include:

  • Market Appreciation: Spokane-area industrial and self-storage values have increased 30–50% since 2020, supported by e-commerce growth and demand for flexible space.

  • Remodel Value-Add: The 2023 self-performed remodel (estimated $600,000 cost, equivalent to ~$900,000 at bid pricing or ~$1.2M replacement cost today) replaced a dated 1,200 SF office with a net addition of 2,200 SF, creating a premium 3,400 SF live-work suite. This upgrade adds meaningful appeal and value.

  • Component Breakdown (real estate only):

    • Land: $1,250,000 (~$3.10/SF)

    • Warehouse/office: $1,850,000 (~$120/SF)

    • Self-storage: $850,000 (~$10,625/unit)

  • The operating mini-storage business (as a going concern) adds further value, typically capitalized on stabilized NOI.

The property benefits from market resilience, with Spokane industrial vacancy around 6.4% and self-storage vacancy in the local area remaining relatively low (8–10%). National self-storage transaction volume has been robust, and the site’s airport proximity plus surplus land help differentiate it amid moderate supply growth. This turnkey asset delivers immediate cash flow and significant long-term upside through expansion and operational synergies. Contact for Details or Showing:
Kevin Eldredge
Phone: 509-688-3498
Email: kevin@discountaircraftsalvage.com

Kevin Eldredge