Enumclaw Specialty for Sale - E King County
Enumclaw Plateau Heated Storage presents a prime opportunity to acquire a well-located, stabilized self-storage facility in the high-barrier-to-entry Enumclaw, WA market. Located at 2035 Commerce Street, the property spans approximately 218,940 NRSF across 1,124 units, offering a diverse mix of heated, covered, and uncovered spaces. The facility was developed in two phases: Phase 1, built in 2007, comprises approximately 75,205 NRSF, while Phase 2, completed in 2020, added roughly 145,175 NRSF, including RV parking. This recent expansion contributes to the current 85% physical occupancy and 74% economic occupancy, offering significant upside as the newer inventory continues to lease up toward full stabilization. As the only self-storage provider within a 5+ mile radius, the property benefits from a consistent and reliable customer base in a market with limited competition. The surrounding area boasts strong demographics, with a median household income exceeding $129,000 within five miles, supporting premium rental rates and steady demand. Strategically positioned just off State Highway 410, with daily traffic counts exceeding 11,100 vehicles, the property enjoys excellent visibility and accessibility, drawing customers from both Enumclaw and neighboring communities with limited storage options. With projected annual rental rate growth of 6.5% and minimal planned competition, Enumclaw Plateau Heated Storage is well-positioned for strong near-term income growth and long-term value creation.
