For Sale
$1,050,000

3505 Spenard RdAnchorage, AK 99503

Anchorage Restaurant & Retail Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional mixed-use property, located at 3505 Spenard Road in Anchorage, Alaska, presents a compelling value-add investment opportunity. The 4,180 square foot building sits on an 11,183 square foot lot and is currently 100% occupied, generating a net operating income (NOI) of $72,000, with a pro-forma NOI projected at $86,000. The asking price is $1,050,000, representing a current cap rate of 6.86% and a pro-forma cap rate of 8.19%. Built in 1985, this concrete structure features commercial kitchens and benefits from a highly visible hard corner location with a stoplight, ensuring significant foot and vehicle traffic. The property includes 18 parking spaces, with overflow parking available on 35th Avenue. Zoned B3, this versatile property allows for a variety of business uses. Its strategic location in the vibrant Spenard neighborhood, near the airport and major residential developments, makes it an ideal investment for those seeking to capitalize on a growing market. The property's current occupancy and strong potential for increased NOI through value-add strategies make this a truly unique and attractive investment opportunity in a sought-after area of Anchorage. The price per square foot is $251.20.

Highlights

  • Value-add opportunity.
  • 100% occupied.
  • High-growth submarket.
  • Signalized intersection.

Property Details for 3505 Spenard Rd

Property type
Retail properties, Restaurants
Square Feet
4,180 SF
Year Built
1985

Location Insight

City
Anchorage
County
Anchorage Municipality
State
Alaska
Latitude
61.188443822662
Longitude
-149.90876577962
3505 Spenard Rd, Anchorage, Alaska

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3505 Spenard Rd
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