3-Bay Flex
For Sale
$1,299,000
3201 Little Fireweed Ln, Homer, AK 99603
Newly built mixed-use workspace with oversized doors and separate facilities for each bay.
Property Size4,800 SF
Price / SF$270.63
Days on Market393
Property Features for 3201 Little Fireweed Ln
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Additional Details
Drive-In Doors
3
Building Details
Year Built
2023
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 399-6815
Listed By:
Hionia Kalugin · License #153205
Source:
Viewanchoragehouses
Added: Aug 2, 2025
Changed: Aug 28
Last Checked: Aug 25 at 8:03AM
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 Berkshire Hathaway HomeServices Alaska Realty
Investment Insights
Based on property information with market context.
Built in 2023, this 4,800-square-foot flex property contains three shop bays designed for equipment, marine projects, and general workspace needs. Each bay has its own facilities, supporting separate operations and convenient day-to-day use. The building includes 20' x 20' bay doors and 20-foot front and rear walls for handling large equipment.
Located at 3201 Little Fireweed Ln in Kachemak City’s mixed-use area, the property is near Northern Enterprise Boatyard. Its setting combines access to nearby businesses and services with a degree of separation suited to shop, storage, and project-oriented users.
Located at 3201 Little Fireweed Ln in Kachemak City’s mixed-use area, the property is near Northern Enterprise Boatyard. Its setting combines access to nearby businesses and services with a degree of separation suited to shop, storage, and project-oriented users.
Key Highlights
- Three‑bay flex property totaling 4,800 SF
- Built in 2023
- 20' x 20' bay doors
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
$82,879
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
6.38%
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%
$1,657,580
$1.7M
Cap Rate 7%
$1,183,986
$1.2M
Cap Rate 9%
$920,878
$920.9K
Market Conditions
NOI Build-Up for 4,800 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
$134.8K $28.08/SF
− Vacancy
−$7.3K −$1.52/SF
EGI
$127.5K $26.56/SF
− OpEx
−$44.6K −$9.30/SF
NOI
$82.9K $17.27/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
35.00%
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%
$1,657,580
Cap Rate 7%
$1,183,986
Cap Rate 9%
$920,878
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.04M – $1.38M
NOI $82,879 @ 7.0% cap · market cap 6.38%
Second Best
Warehouse
$515.0K
$450.6K – $600.8K
NOI $36,048 @ 7.0% cap · market cap 2.78%
Theoretical Best
Multifamily LT 5
$33.29M
$29.13M – $38.84M
NOI $2,330,343 @ 7.0% cap · market cap 179.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Demographics for 99603, AK
10,766
Population
6,251
Households
1.7
Avg Household Size
43
Median Age
39%
College-Educated
94%
High-School Grad
1,068.8 sq mi
ZIP Area
10
Density / Sq Mi
$76,368
Median Household Income
$41,530
Median Earnings
$1,236
Median Rent
$345,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Newly built mixed-use workspace with oversized doors and separate facilities for each bay.
Where is this flex space located?
The property is located at 3201 Little Fireweed Ln Homer, AK.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑bay flex property totaling 4,800 SF; Built in 2023; 20' x 20' bay doors
