Medical Office with Sauna
For Sale
$885,000
198 W Marydale Ave, Soldotna, AK 99669
Remodeled professional facility with private offices, kitchen, specialized wellness space, and a prominent medical-corridor setting.
Property Size2,754 SF
Lot Size0.39 Acres
Price / SF$321.35
Days on Market254
Property Features for 198 W Marydale Ave
General Information
Standard status
Active
Size
2,754 SF
Lot size
0.39 Acres
Property subtype
Commercial
Amenities
full kitchen
sauna
Building Details
Year Built
1967
Year Renovated
2008
Buildings
1
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Century 21 Realty Solutions Freedom Branch
(907) 262-1770
Listed By:
Natalia Aulenbacher
Source:
Seehomesinalaska
Added: Dec 19, 2025
Changed: Aug 28
Last Checked: Aug 29 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 Century 21 Realty Solutions Freedom Branch
Investment Insights
Based on property information with market context.
This 2,754 SF medical office property provides 10 private offices, a full kitchen, 2.5 bathrooms, and a specialized suite with an adjoining sauna. The offices include wiring for WiFi and phone service, along with integrated speakers. Originally built in 1967, the building was fully redesigned and remodeled in 2008.
The property occupies approximately 0.39 acres in Soldotna’s primary medical corridor, directly across from CPH. It has been owner-occupied by a wellness practice for approximately 20 years. The existing configuration supports continued medical, therapy, wellness, or professional office use, while alternative concepts remain subject to zoning and required approvals.
The property occupies approximately 0.39 acres in Soldotna’s primary medical corridor, directly across from CPH. It has been owner-occupied by a wellness practice for approximately 20 years. The existing configuration supports continued medical, therapy, wellness, or professional office use, while alternative concepts remain subject to zoning and required approvals.
Key Highlights
- 2,754 SF medical office property on approximately 0.39 acres
- 10 private offices wired for WiFi and phone service
- Specialized office suite with adjacent sauna
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
$43,894
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
4.96%
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%
$877,880
$877.9K
Cap Rate 7%
$627,057
$627.1K
Cap Rate 9%
$487,711
$487.7K
Market Conditions
NOI Build-Up for 2,754 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
$77.3K $28.08/SF
− Vacancy
−$4.2K −$1.52/SF
EGI
$73.2K $26.56/SF
− OpEx
−$29.3K −$10.63/SF
NOI
$43.9K $15.94/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
40.00%
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%
$877,880
Cap Rate 7%
$627,057
Cap Rate 9%
$487,711
Alternative Uses
Best Use
Healthcare Medical
$627.1K
$548.7K – $731.6K
NOI $43,894 @ 7.0% cap · market cap 4.96%
Second Best
Office B
$562.3K
$492.0K – $656.0K
NOI $39,360 @ 7.0% cap · market cap 4.45%
Theoretical Best
Multifamily LT 5
$19.10M
$16.71M – $22.28M
NOI $1,337,034 @ 7.0% cap · market cap 151.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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?
Medical Office Space - Remodeled professional facility with private offices, kitchen, specialized wellness space, and a prominent medical-corridor setting.
Where is this medical office space located?
The property is located at 198 W Marydale Ave Soldotna, AK.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 2,754 SF medical office property on approximately 0.39 acres; 10 private offices wired for WiFi and phone service; Specialized office suite with adjacent sauna
