1211 Cushman StFairbanks, AK 99701

Property Details for 1211 Cushman St

Year built

1965

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

10,652 SF

Property type

Other commercial real estate

APN

87564

APU

87564

Description

This exceptional investment opportunity presents a fee-simple, 12,128 square foot Class B medical office building located at 1211 Cushman St, Fairbanks, AK 99701. The property boasts a 100% occupancy rate with a single, long-term net lease to Fairbanks Urology, a financially strong tenant backed by a national healthcare provider. The lease, structured as a NNN (triple net) lease, features a remaining term of 7.6 years, expiring June 29, 2032, with attractive 3% annual rent increases built in. The building, constructed in 1965 and extensively renovated in 2022 at a cost exceeding $3.85 million, comprises three stories on a 0.64-acre lot. The asking price is $5,490,000, representing a price per square foot of $452.67 and a compelling 9.00% cap rate based on a Net Operating Income (NOI) of $494,079. Lease options are negotiable. This property offers a stable, high-yield investment with minimal landlord responsibilities in a market with high barriers to entry and strong demographics, including average household incomes exceeding $101,000 within a 5-mile radius. The Fairbanks Urology practice is the only standalone urology practice outside of the Anchorage metropolitan area in Alaska, serving a large geographical region. This presents a unique opportunity to acquire a well-maintained, high-performing medical office building with a secure, long-term tenant and significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $3,288,726

  Hospitality

  $3,012,456

  Educational

  $2,506,328

  Medical

  $2,592,524

  Retail

  $3,898,732

Location Insight

City

Fairbanks

County

Fairbanks North Star

State

Alaska

Latitude

64.8375

Longitude

-147.718

CBSA code

21820

CBSA name

FAIRBANKS, AK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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