Flex Space with Tall Overhead
For Sale
$319,000
34227 Industrial Street, Soldotna, AK 99669
COMMERCIAL - Soldotna, AK
Property Size980 SF
Lot Size3.00 Acres
Price / SF$325.51
Days on Market44
Property Features for 34227 Industrial Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UNK - Unknown
Directions
At the start of Funny River Road before buss barn on right, turn on industrial, 1st drive on right, see sign
Subdivision
1B - Kenai Peninsula Borough
Standard status
Active
APN
13519015
Size
980 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #7 (CONDO-shared land)
Legal Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #7 (CONDO-shared land)
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Radiant Floor, Natural Gas
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding, Wood Frame - 2x6
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Katie Uei · License #18597
(907) 398-3864
Added: Jul 24
Changed: Aug 4
Last Checked: Sep 5 at 1:06AM
MLS# 26-9306
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Flex space at the “Kenai River Man Caves,” featuring a shop measuring 49 feet deep by 20 feet wide with a 14-foot-tall overhead door. The property includes a private gated area with room to turn a boat or RV around. Inside, the main level offers a full bath with a walk-in shower, and radiant natural gas floor heat with concrete flooring. Each unit has its own independent heating system and separate gas and electric meter. Built in 2025, the improvements include metal roof with metal siding and wood frame (2x6) construction.
Set on a 3-acre lot, the property is served by public water and public sewer. Zoning is listed as unknown.
Additional common-expense coverage is provided through HOA management, including maintenance, repair, and replacement of common elements, insurance, governance/operation expenses, and utility charges not billed to individual units.
Set on a 3-acre lot, the property is served by public water and public sewer. Zoning is listed as unknown.
Additional common-expense coverage is provided through HOA management, including maintenance, repair, and replacement of common elements, insurance, governance/operation expenses, and utility charges not billed to individual units.
Key Highlights
- Shop size of 49 ft deep by 20 ft wide with a 14 ft tall overhead door
- Private gated area with room to turn a boat or RV
- Radiant natural gas floor heat plus concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,921
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,420
$338.4K
Cap Rate 7%
$241,729
$241.7K
Cap Rate 9%
$188,011
$188.0K
Market Conditions
NOI Build-Up for 980 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.5K $28.08/SF
− Vacancy
−$1.5K −$1.52/SF
EGI
$26.0K $26.56/SF
− OpEx
−$9.1K −$9.30/SF
NOI
$16.9K $17.27/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,420
Cap Rate 7%
$241,729
Cap Rate 9%
$188,011
Alternative Uses
Best Use
Flex RnD
$241.7K
$211.5K – $282.0K
NOI $16,921 @ 7.0% cap · market cap 5.30%
Second Best
Industrial
$86.6K
$75.8K – $101.0K
NOI $6,061 @ 7.0% cap · market cap 1.90%
Theoretical Best
Multifamily LT 5
$6.80M
$5.95M – $7.93M
NOI $475,778 @ 7.0% cap · market cap 149.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Demographics for 99669, AK
15,531
Population
8,221
Households
1.9
Avg Household Size
41
Median Age
28%
College-Educated
94%
High-School Grad
244.7 sq mi
ZIP Area
63
Density / Sq Mi
$84,133
Median Household Income
$44,918
Median Earnings
$1,205
Median Rent
$304,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex-space shop with radiant natural-gas floor heat, concrete floors, and a private gated area for turning an RV or boat.
Where is this flex space located?
The property is located at 34227 Industrial Street Soldotna, AK.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Shop size of 49 ft deep by 20 ft wide with a 14 ft tall overhead door; Private gated area with room to turn a boat or RV; Radiant natural gas floor heat plus concrete flooring
