Restaurant with Living
For Sale
$345,000
15915 Sterling Highway, Ninilchik, AK 99639
Business Opportunity, Ninilchik, AK
Property Size3,162 SF
Lot Size0.87 Acres
Price / SF$109.11
Days on Market103
Property Features for 15915 Sterling Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM - Commercial (Unoffic
Parking
15
Directions
This is known as the Roscos Pizza building and is located at Mile Marker 134.5 of the Sterling Highway. Rosco's is next to Three Bears Grocery and the Shell gas station in Ninilchik.
Subdivision
1B - Kenai Peninsula Borough
Standard status
Active
APN
15715035
Size
3,162 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Ski Hill 1991 Addn L6 B1
Tax Annual Amount
1828
Legal Description
Ski Hill 1991 Addn L6 B1
Utilities
Sewer type
Septic Tank
Heating system
Radiant, Natural Gas
Water source
Private, Well
Building Details
Year built
1994
Flooring type
Laminate, Carpet, Concrete
Building materials
Wood Frame - 2x6
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Elizabeth Jozwiak · License #170319
(907) 252-9365
Added: May 14
Changed: Aug 20
Last Checked: Aug 24 at 10:06AM
MLS# 26-5453
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restaurant property combines a pizzeria operation with integrated living quarters in a 3,162-square-foot building. The interior includes dining, kitchen, laundry, and bathroom areas, while the sale includes commercial kitchen equipment, fixtures, and custom dining furnishings. Wood-frame construction, a metal roof, laminate, carpet, and concrete flooring, plus radiant natural-gas heat, define the existing improvements.
The property occupies 0.87 acres along Sterling Highway in Ninilchik, with a parking area designed for large trucks, boats, and RVs. Private well water and a septic tank serve the site. Built in 1994, the building supports a combined restaurant and residential configuration, with the additional rooms suitable for on-site occupancy or employee housing as described in the property information.
The property occupies 0.87 acres along Sterling Highway in Ninilchik, with a parking area designed for large trucks, boats, and RVs. Private well water and a septic tank serve the site. Built in 1994, the building supports a combined restaurant and residential configuration, with the additional rooms suitable for on-site occupancy or employee housing as described in the property information.
Key Highlights
- 3,162 SF restaurant building with integrated living quarters
- 0.87‑acre site with Sterling Highway frontage
- Commercial kitchen equipment, fixtures, and custom dining furnishings included
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
$21,818
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
6.32%
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%
$436,360
$436.4K
Cap Rate 7%
$311,686
$311.7K
Cap Rate 9%
$242,422
$242.4K
Market Conditions
NOI Build-Up for 3,162 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
$37.9K $12.00/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$34.9K $11.04/SF
− OpEx
−$13.1K −$4.14/SF
NOI
$21.8K $6.90/SF
Area
Kenai Peninsula County, AK
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$436,360
Cap Rate 7%
$311,686
Cap Rate 9%
$242,422
Alternative Uses
Best Use
Specialty Retail
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 18.26%
Second Best
Office B
$645.6K
$564.9K – $753.2K
NOI $45,191 @ 7.0% cap · market cap 13.10%
Theoretical Best
Multifamily LT 5
$21.93M
$19.19M – $25.59M
NOI $1,535,113 @ 7.0% cap · market cap 444.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 99639, AK
1,072
Population
1,181
Households
0.9
Avg Household Size
58
Median Age
28%
College-Educated
93%
High-School Grad
359.2 sq mi
ZIP Area
3
Density / Sq Mi
$46,354
Median Household Income
$25,278
Median Earnings
$961
Median Rent
$244,600
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?
Conventional restaurant - Established pizzeria property with commercial kitchen infrastructure, on-site housing, and natural gas service.
Where is this conventional restaurant located?
The property is located at 15915 Sterling Highway Ninilchik, AK.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 3,162 SF restaurant building with integrated living quarters; 0.87‑acre site with Sterling Highway frontage; Commercial kitchen equipment, fixtures, and custom dining furnishings included
