End-Unit Flex
For Sale
$250,000
101-5401 Cordova St, Anchorage, AK 99501
Commercial condo with a garage door and current month-to-month occupancy.
Property Size1,000 SF
Price / SF$250
Days on Market54
Property Features for 101-5401 Cordova St
General Information
Standard status
Active
Size
1,000 SF
Additional Details
Utilities to Site
Yes
Drive-In Doors
1
Listing Agency:
EXP Realty, LLC
(907) 854-8404
Listed By:
Peter Carpenter · License #110384
(907) 854-8404
Source:
Exprealty
Added: Jun 30
Changed: Aug 20
Last Checked: Aug 21 at 9:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1, 000 SQFT commercial condominium is configured as an end unit within a plaza and includes a garage door. The space is currently occupied by a construction company under a month-to-month lease. Its position provides first visibility from the main road and plaza entrance.
The property is near C Street and International Airport Rd in Anchorage. Association services cover water, sewer, refuse, exterior maintenance, grounds, and reserves. Recent roof replacements are reflected in the association dues. Units 101, 102, and 103 are available for purchase together as a side-by-side package.
The property is near C Street and International Airport Rd in Anchorage. Association services cover water, sewer, refuse, exterior maintenance, grounds, and reserves. Recent roof replacements are reflected in the association dues. Units 101, 102, and 103 are available for purchase together as a side-by-side package.
Key Highlights
- 1, 000 SQFT commercial condo with a garage door
- End unit at the plaza entrance and first to be seen from the main road
- Currently utilized by a construction company on a month‑to‑month lease
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
$11,357
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
4.54%
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%
$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
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
$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 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%
$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
Current Use
Lease Details
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
Median Home Value
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 - Commercial condo with a garage door and current month-to-month occupancy.
Where is this flex space located?
The property is located at 101-5401 Cordova St 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 SQFT commercial condo with a garage door; End unit at the plaza entrance and first to be seen from the main road; Currently utilized by a construction company on a month‑to‑month lease
