Flex Warehouse Condo with Garage
102-5401 Cordova St Anchorage, AK 99501
102-5401 Cordova St, Anchorage, AK, 99501
$250,000
For Sale
$250,000
Commercial condo offers a garage door and is leased on a month-to-month basis to a courier service.
Property Size1,000 SF
Price / SF$250
Days on Market23
Property Features for 102-5401 Cordova St
General Information
- Standard status
- Active
- Size
- 1,000 SF
Listing agency
EXP Realty, LLC
(907) 854-8404
Listed by
Peter Carpenter · License #110384
(907) 854-8404
Source
Exprealty
Added: Jun 30 Updated: Jul 21 at 10:29AM Checked: Jul 21 at 10:29AM
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-square-foot commercial condo is in an end building and includes a garage door for direct access. The unit is currently utilized by a courier service under a month-to-month lease.
The property is located near C Street and International Airport Road, positioned first to be seen from the main road and as the entrance to the plaza.
Association dues cover water, sewer, refuse, exterior, grounds, and reserves, with dues reflecting recent roof replacements. The seller notes the property can be sold as a package with three side-by-side units (101, 102, and 103), and owner financing is available.
The property is located near C Street and International Airport Road, positioned first to be seen from the main road and as the entrance to the plaza.
Association dues cover water, sewer, refuse, exterior, grounds, and reserves, with dues reflecting recent roof replacements. The seller notes the property can be sold as a package with three side-by-side units (101, 102, and 103), and owner financing is available.
Key Highlights
- 1,000 SF commercial condo near C St and International Airport Rd.
- Unit has a garage door and is currently used by a courier service on an MTM (month‑to‑month) lease.
- End building first to be seen from the main road and the entrance to the plaza.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.0k | $15.00 |
| − Vacancy | −$975 | −$0.98 |
| EGI | $14.0k | $14.03 |
| − OpEx | −$2.1k | −$2.10 |
| NOI | $11.9k | $11.92 |
1,000 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$170.3K
$149.0K – $198.7K
NOI $11,921 @ 7.0% cap · market cap 4.77%
Second Best
Flex RnD
$162.2K
$142.0K – $189.3K
NOI $11,357 @ 7.0% cap · market cap 4.54%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Commercial condo offers a garage door and is leased on a month-to-month basis to a courier service.
Where is this flex space located?
The property is located at 102-5401 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 SF commercial condo near C St and International Airport Rd.; Unit has a garage door and is currently used by a courier service on an MTM (month‑to‑month) lease.; End building first to be seen from the main road and the entrance to the plaza.
