3952 Mountain View DrAnchorage, AK 99508

Property Details for 3952 Mountain View Dr

Year built

1958

Lot size

0.14 AC

Property size (Sq ft)

5,304 SF

Zone code

B3 GENERAL BUSINESS

Property type

Turn key restaurants

APN

005-035-07-000

APU

503507000

Description

This exceptional 5,304 square foot retail storefront investment property, located at 3952 Mountain View Dr, Anchorage, AK 99508, presents a compelling opportunity. The property boasts three fully occupied units, generating a strong income stream with 100% occupancy. Built in 1958 and extensively renovated in 2018, the building is in excellent condition. The property is zoned B3 - General Business, allowing for versatile commercial uses. The 6,250 square foot lot provides ample space. The current asking price is $499,000, representing a compelling $94.08 per square foot. The property's strong performance is reflected in its current cap rate of 10.41% and a pro-forma cap rate of 9.21%, with a pro-forma NOI of $45,948. The largest unit includes an upstairs apartment and has been occupied by a restaurant for an extended period. This multi-tenant property offers a diverse income stream and is situated in a prime Anchorage location, providing excellent accessibility and proximity to the commercial core. This is an ideal addition to any investment portfolio seeking stable returns and future appreciation potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,103,090

  6.5%

  $1,941,314

  7%

  $1,802,648

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,062,931

  Geo Method

  $2,574,040

• Alternative Use

  Use

  Valuation

  Residential

  $1,637,571

  Hospitality

  $1,500,006

  Educational

  $1,247,987

  Medical

  $1,290,908

  Retail

  $1,941,314

Location Insight

City

Anchorage

County

Anchorage

State

Alaska

Latitude

61.2239

Longitude

-149.807

CBSA code

11260

CBSA name

ANCHORAGE, AK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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