371 Old Steese HwyFairbanks, AK 99712

Property Details for 371 Old Steese Hwy

Year built

1982

Construction

WOOD

Lot size

4.27 AC

Property size (Sq ft)

2,494 SF

Property type

Commercial real estate

APN

200034

APU

200034

Description

This exceptional commercial property, located at 371 N Old Steese Highway in Fairbanks, Alaska, presents a unique investment opportunity. The 2,566 square foot building sits on a generous 4.27-acre lot, offering significant storage yard space alongside the main structure. The building itself comprises multiple areas, including an office, an apartment (suitable for additional office space or residential use), and a sizable warehouse/shop. This versatile layout allows for a variety of commercial uses, catering to businesses requiring both office and storage capabilities. While the property requires some attention and deferred maintenance, this presents a chance for a savvy investor to add value through renovations and improvements. The asking price reflects the need for some work, making this a potentially lucrative opportunity for someone willing to invest time and effort. The substantial land area provides ample room for expansion or future development, adding to the property's long-term potential. This is an excellent chance to acquire a sizable commercial property in Fairbanks at a competitive price. The combination of building space, expansive land, and strategic location makes this a compelling investment prospect. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $762,414

  6.5%

  $703,767

  7%

  $653,498

• Comparable approach

  Method

  Valuation

  Relative Method

  $758,109

  Geo Method

  $480,295

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,428,810

  Retail / Commercial

  $724,219

  Mixed-Use / Specialty

  $714,964

  Hospitality / Lodging

  $515,859

  Office

  $703,767

  Institutional / Educational

  $740,890

  Residential Income

  $866,842

  Multifamily

  $1,076,630

  Automotive / Energy

  $635,049

  Parking / Income-Based Land

  $225,740

  Restaurant / Food Service

  $357,618

  Healthcare / Senior Housing

  $740,025

Location Insight

City

Fairbanks

County

Fairbanks North Star

State

Alaska

Latitude

64.8749

Longitude

-147.666

CBSA code

21820

CBSA name

FAIRBANKS, AK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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