Auto Shop with Long-Term
For Sale
$1,590,000
250 Airport Way, Kenai, AK 99611
Established automotive property under an active lease with a national tenant.
Property Size4,704 SF
Price / SF$338.01
Days on Market56
Property Features for 250 Airport Way
General Information
Standard status
Active
Size
4,704 SF
Building Details
Year Built
2012
Tenancy
Single
Listing Agency:
Jack White Real Estate Kenai
Listed By:
Fred Braun · License #LIC.#14729
(907) 252-8375
Source:
Kachemakgrouprealestate
Added: Aug 14
Changed: Oct 6
Last Checked: Oct 7 at 1:22PM
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 Jack White Real Estate Kenai
Investment Insights
Based on property information with market context.
This 4,704-square-foot auto shop was built in 2012 and is offered as a real property sale. The transaction excludes equipment and any business operations, while the existing active lease remains in place with Kendall Auto Group.
The property is positioned across from Home Depot in Kenai’s business district and less than one minute from Kenai Airport. Its location combines proximity to a major retail anchor with convenient airport access.
The property is positioned across from Home Depot in Kenai’s business district and less than one minute from Kenai Airport. Its location combines proximity to a major retail anchor with convenient airport access.
Key Highlights
- 4,704‑square‑foot auto shop
- Built in 2012
- Active long‑term lease with Kendall Auto Group
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,708
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,514,160
$1.5M
Cap Rate 7%
$1,081,543
$1.1M
Cap Rate 9%
$841,200
$841.2K
Market Conditions
NOI Build-Up for 4,704 SF
Gross rent
$112.9K $24.00/SF
− Vacancy
−$4.7K −$1.01/SF
EGI
$108.2K $22.99/SF
− OpEx
−$32.4K −$6.90/SF
NOI
$75.7K $16.09/SF
Area
Kenai Peninsula County, AK
Vacancy
4.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,514,160
Cap Rate 7%
$1,081,543
Cap Rate 9%
$841,200
Alternative Uses
Best Use
Retail
$1.08M
$946.4K – $1.26M
NOI $75,708 @ 7.0% cap · market cap 4.76%
Second Best
Industrial
$415.6K
$363.7K – $484.9K
NOI $29,093 @ 7.0% cap · market cap 1.83%
Theoretical Best
Multifamily LT 5
$32.62M
$28.55M – $38.06M
NOI $2,283,736 @ 7.0% cap · market cap 143.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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?
Auto shop - Established automotive property under an active lease with a national tenant.
Where is this auto shop located?
The property is located at 250 Airport Way Kenai, AK.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 4,704‑square‑foot auto shop; Built in 2012; Active long‑term lease with Kendall Auto Group
