Versatile Commercial Property For
For Sale
$665,000
3304 Spenard Rd, Anchorage, AK 99503
Former gas station with retail, office, and warehouse potential.
Property Size1,710 SF
Lot Size0.46 Acres
Price / SF$388.89
Days on Market275
Property Features for 3304 Spenard Rd
General Information
Standard status
Active
Size
1,710 SF
Lot size
0.46 Acres
Building Details
Year Built
1965
Listing Agency:
Spire Commercial
Listed By:
Ryan Schwalbe · License #194501
(907) 230-1523
Source:
Griggrealty
Added: Jan 13
Changed: Oct 7
Last Checked: Oct 7 at 4:17PM
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 Spire Commercial
Investment Insights
Based on property information with market context.
This property, formerly a gas station, is zoned B3: General Business. It features two bays with overhead doors, a retail area, an office area, and a storage room. The property also includes two canopies and a monument sign. Situated on a large corner lot of 20,140 square feet, the site offers easy access. The property is suitable for shop, warehouse, retail, office, or land use.
Key Highlights
- Large 20,140sf corner lot with easy access
- Zoned B3: General Business, allowing for Shop/Warehouse/Retail/Office use
- Two bays with overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,504
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,080
$650.1K
Cap Rate 7%
$464,343
$464.3K
Cap Rate 9%
$361,156
$361.2K
Market Conditions
NOI Build-Up for 1,710 SF
Gross rent
$45.1K $26.40/SF
− Vacancy
−$1.8K −$1.06/SF
EGI
$43.3K $25.34/SF
− OpEx
−$10.8K −$6.34/SF
NOI
$32.5K $19.01/SF
Area
Anchorage, AK
Vacancy
4.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,080
Cap Rate 7%
$464,343
Cap Rate 9%
$361,156
Alternative Uses
Best Use
Specialty Retail
$464.3K
$406.3K – $541.7K
NOI $32,504 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$411.5K
$360.1K – $480.1K
NOI $28,807 @ 7.0% cap · market cap 4.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
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 Office in West region
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Frequently Asked Questions
What type of property is this?
Gas station - Former gas station with retail, office, and warehouse potential.
Where is this gas station located?
The property is located at 3304 Spenard Rd Anchorage, AK.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Large 20,140sf corner lot with easy access; Zoned B3: General Business, allowing for Shop/Warehouse/Retail/Office use; Two bays with overhead doors
