Single-Tenant Drive-Through
For Sale
$2,273,000
10733 Kenai Spur Hwy, Kenai, AK 99611
The property is leased under an absolute NNN structure with a new 20-year term.
Property Size3,376 SF
Price / SF$673.28
Days on Market51
Property Features for 10733 Kenai Spur Hwy
General Information
Standard status
Active
Size
3,376 SF
Net Operating Income
$150,000
Additional Details
Cap Rate
6.4%
Building Details
Year Built
1983
Tenancy
Single
Listing Agency:
Colliers International
Listed By:
Cason Martin, Elisha Martin
(907) 561-5155
Source:
Kachemakgrouprealestate
Added: Aug 19
Changed: Oct 3
Last Checked: Oct 7 at 2:45PM
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 Colliers International
Investment Insights
Based on property information with market context.
This single-tenant Arby’s restaurant comprises 3,376 SF and is operated under an absolute NNN lease. The current lease has a new 20-year term, with contractual 8% rent increases scheduled every five years. Diversified Restaurant Group, an operator with 365 locations, is identified as the tenant.
The property is positioned along Kenai Spur Hwy in Kenai’s busiest retail corridor. Walmart, Safeway, Home Depot, and other national retailers are located nearby, placing the restaurant within an established commercial retail setting. The asset’s drive-through restaurant format and long-term lease structure define its primary commercial characteristics.
The property is positioned along Kenai Spur Hwy in Kenai’s busiest retail corridor. Walmart, Safeway, Home Depot, and other national retailers are located nearby, placing the restaurant within an established commercial retail setting. The asset’s drive-through restaurant format and long-term lease structure define its primary commercial characteristics.
Key Highlights
- 3,376 SF single‑tenant Arby’s restaurant
- Absolute NNN lease structure with a new 20‑year term
- 8% rent increases every five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,259
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,345,180
$1.3M
Cap Rate 7%
$960,843
$960.8K
Cap Rate 9%
$747,322
$747.3K
Market Conditions
NOI Build-Up for 3,376 SF
Gross rent
$94.8K $28.08/SF
− Vacancy
−$5.1K −$1.52/SF
EGI
$89.7K $26.56/SF
− OpEx
−$22.4K −$6.64/SF
NOI
$67.3K $19.92/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,345,180
Cap Rate 7%
$960,843
Cap Rate 9%
$747,322
Alternative Uses
Best Use
Specialty Retail
$960.8K
$840.7K – $1.12M
NOI $67,259 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$23.41M
$20.49M – $27.32M
NOI $1,639,008 @ 7.0% cap · market cap 72.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Demographics for 99611, AK
15,827
Population
7,130
Households
2.2
Avg Household Size
38
Median Age
24%
College-Educated
94%
High-School Grad
526.8 sq mi
ZIP Area
30
Density / Sq Mi
$69,816
Median Household Income
$47,259
Median Earnings
$1,108
Median Rent
$279,800
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 Retail in West region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - The property is leased under an absolute NNN structure with a new 20-year term.
Where is this drive through restaurant located?
The property is located at 10733 Kenai Spur Hwy Kenai, AK.
What is the asking price?
The asking price for this property is $2,273,000.
What are key features of this property?
This property features: 3,376 SF single‑tenant Arby’s restaurant; Absolute NNN lease structure with a new 20‑year term; 8% rent increases every five years
