End-Unit Flex Space with Garage
For Sale
$250,000
5401 Cordova Street, Anchorage, AK 99518
Commercial Sale, Anchorage, AK
Property Size1,000 SF
Price / SF$250
Days on Market102
Property Features for 5401 Cordova Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I1 - Light Industrial
Subdivision
1A - Anchorage Municipality
Standard status
Active
APN
0092423500201
Size
1,000 SF
Taxes and HOA fees
Tax Description
Spruce Heights #4 L3 B1 Airport Plaza
Legal Description
Spruce Heights #4 L3 B1 Airport Plaza
Building Details
Floors in Building
1
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Peter Carpenter · License #110384
(907) 854-8404
Added: Jun 29
Changed: Oct 2
Last Checked: Oct 8 at 1:06AM
MLS# 26-7892
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.
This 1,000-square-foot commercial condominium is classified for I1 - Light Industrial use and includes a garage door. The end-unit configuration places it at the entrance to the plaza, with the property currently occupied by a courier service under a month-to-month lease.
The unit is located near C Street and International Airport Road in Anchorage. Association coverage includes water, sewer, refuse, exterior maintenance, grounds, and reserves. The property may also be acquired together with three adjoining units identified as 101, 102, and 103.
The unit is located near C Street and International Airport Road in Anchorage. Association coverage includes water, sewer, refuse, exterior maintenance, grounds, and reserves. The property may also be acquired together with three adjoining units identified as 101, 102, and 103.
Key Highlights
- 1,000‑square‑foot commercial condominium
- I1 - Light Industrial zoning
- Garage door included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,357
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,140
$227.1K
Cap Rate 7%
$162,243
$162.2K
Cap Rate 9%
$126,189
$126.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$19.2K $19.20/SF
− Vacancy
−$1.7K −$1.73/SF
EGI
$17.5K $17.47/SF
− OpEx
−$6.1K −$6.12/SF
NOI
$11.4K $11.36/SF
Area
Anchorage, AK
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,140
Cap Rate 7%
$162,243
Cap Rate 9%
$126,189
Alternative Uses
Best Use
Flex RnD
$162.2K
$142.0K – $189.3K
NOI $11,357 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$150.7K
$131.8K – $175.8K
NOI $10,546 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 99518, AK
9,861
Population
4,568
Households
2.2
Avg Household Size
36
Median Age
32%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
2,595
Density / Sq Mi
$91,077
Median Household Income
$49,761
Median Earnings
$1,661
Median Rent
$297,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - I1 - Light Industrial zoning and an end-unit position define this commercial condo.
Where is this flex space located?
The property is located at 5401 Cordova Street Anchorage, AK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,000‑square‑foot commercial condominium; I1 - Light Industrial zoning; Garage door included
