Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Glacier West Chelan, a compelling value-add boat storage or light industrial opportunity located in Chelan, Washington. The Property is currently operated primarily as boat storage, with a portion leased to an industrial tenant (Empire Controls), offering multiple avenues for a new owner to enhance value through increased storage occupancy and/or conversion of portions of the Property to light industrial uses. Offered at an attractive $84.44/SF ($29.90/SF Land), the Property is priced well below the approximately $106/SF market pricing in the Chelan Valley and significantly below replacement cost, providing a compelling basis with meaningful downside protection for investors and owner-users. The Property is located within Chelan’s Industrial District, in a market where industrial vacancy across the Chelan Valley is currently 0%, creating favorable operating conditions driven by limited available space and minimal new development. Zoned W-I (Warehousing & Industrial), the Property allows for a broad range of warehouse, storage, and light industrial uses, offering flexible repositioning optionality. The site benefits from immediate proximity to the Apple Blossom Center, a major mixed-use development planned to include more than 425 residential units and future commercial space, reinforcing long-term growth and demand drivers throughout the East Chelan corridor. Additionally, the Chelan Valley attracts over 2 million visitors annually, generating more than $458 million in annual tourism revenue (2023) for Chelan County and supporting year-round demand from both visitors and residents. The Property is also located in Washington State, which imposes no state personal income tax, providing a favorable tax environment for investors and owner-users alike.