Flex Office with Shop
For Sale
$1,500,000
35126 Kb Drive Soldotna, Soldotna, AK 99669
A 9,600 sf flex building with 5,100 sf of office space, 4,500 sf shop/warehouse area, and a fenced yard.
Property Size9,600 SF
Price / SF$156.25
Days on Market56
Property Features for 35126 Kb Drive Soldotna
General Information
Standard status
Active
Size
9,600 SF
Zoning
UNZ - Not Zoned
Additional Details
Fenced Yard
Yes
Amenities
conference room
break room
mezzanine
fenced yard
Building Details
Building Size
9,600 SF
Listing Agency:
(907) 263-9333
Listed By:
Jacob Masog · License #18192
(907) 263-9333
Source:
Herringtonlifestyleandliving
Added: Jun 30
Changed: Aug 22
Last Checked: Aug 24 at 3:14AM
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 Jacob Masog
Investment Insights
Based on property information with market context.
This flex-style building totals 9,600 sf and combines office and shop/warehouse space in one facility. The office portion includes six dedicated offices plus a conference room, along with two additional larger rooms. There is a separate break room and men’s and women’s bathrooms.
The shop/warehouse area totals 4,500 sf and is divided into two distinct sections. One shop/warehouse area has three large overhead doors, while the second area includes one overhead door and a mezzanine. A fenced yard is also included, providing secure outdoor space for operational needs.
Overall, the layout supports a mixed-use configuration for companies that need both office support and dedicated warehouse capability within the same building.
The shop/warehouse area totals 4,500 sf and is divided into two distinct sections. One shop/warehouse area has three large overhead doors, while the second area includes one overhead door and a mezzanine. A fenced yard is also included, providing secure outdoor space for operational needs.
Overall, the layout supports a mixed-use configuration for companies that need both office support and dedicated warehouse capability within the same building.
Key Highlights
- 9,600 SF flex building with 5,100 SF office space and 4,500 SF shop/warehouse space
- Office layout includes 6 dedicated offices, a conference room, and 2 additional larger rooms
- Separate break room plus men’s and women’s bathrooms
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
$137,203
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
9.15%
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%
$2,744,060
$2.7M
Cap Rate 7%
$1,960,043
$2.0M
Cap Rate 9%
$1,524,478
$1.5M
Market Conditions
NOI Build-Up for 9,600 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
$230.4K $24.00/SF
− Vacancy
−$47.5K −$4.94/SF
EGI
$182.9K $19.06/SF
− OpEx
−$45.7K −$4.76/SF
NOI
$137.2K $14.29/SF
Area
Kenai Peninsula County, AK
Vacancy
20.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,744,060
Cap Rate 7%
$1,960,043
Cap Rate 9%
$1,524,478
Alternative Uses
Best Use
Flex RnD
$2.37M
$2.07M – $2.76M
NOI $165,757 @ 7.0% cap · market cap 11.05%
Second Best
Office B
$1.96M
$1.72M – $2.29M
NOI $137,203 @ 7.0% cap · market cap 9.15%
Theoretical Best
Multifamily LT 5
$66.58M
$58.26M – $77.68M
NOI $4,660,686 @ 7.0% cap · market cap 310.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A 9,600 sf flex building with 5,100 sf of office space, 4,500 sf shop/warehouse area, and a fenced yard.
Where is this flex space located?
The property is located at 35126 Kb Drive Soldotna Soldotna, AK.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,600 SF flex building with 5,100 SF office space and 4,500 SF shop/warehouse space; Office layout includes 6 dedicated offices, a conference room, and 2 additional larger rooms; Separate break room plus men’s and women’s bathrooms
