Flex Space with Overhead
For Sale
$382,800
34227 Industrial Street, Soldotna, AK 99669
COMMERCIAL - Soldotna, AK
Property Size1,127 SF
Lot Size3.00 Acres
Price / SF$339.66
Days on Market15
Property Features for 34227 Industrial Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UNK - Unknown
Parking
2
Directions
At the start of Funny River Road before buss barn on right, turn on industrial, 1st drive on right, see sign
Subdivision
1B - Kenai Peninsula Borough
Standard status
Active
APN
13519015
Size
1,127 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #4 (CONDO-shared land)
Legal Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #4 (CONDO-shared land)
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Radiant Floor, Natural Gas
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Flooring type
Concrete
Building materials
Wood Frame - 2x6
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Katie Uei · License #18597
(907) 398-3864
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 7 at 12:06AM
MLS# 26-9305
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.
Flex space at Kenai River Man Caves, featuring a 49-foot deep by 23-foot-wide shop with a 14-foot-tall overhead door. The property includes a private gated area with room to turn a boat or RV around, along with a main level full bath with a walk-in shower. Interior flooring is concrete, and heating is provided by natural gas radiant floor heat through an independent heating system for the unit.
The building is constructed with wood frame (2x6) and has a metal roof. Utilities include public water and public sewer, with separate gas and electric meters noted for each unit.
Built in 2025, this unit sits on a 3-acre lot and is connected to a larger Kenai River Man Caves community. HOA is mentioned for common expenses including management, administration, insurance, utilities charges not billed to individual units, and maintenance, repair, and replacement of common elements.
The building is constructed with wood frame (2x6) and has a metal roof. Utilities include public water and public sewer, with separate gas and electric meters noted for each unit.
Built in 2025, this unit sits on a 3-acre lot and is connected to a larger Kenai River Man Caves community. HOA is mentioned for common expenses including management, administration, insurance, utilities charges not billed to individual units, and maintenance, repair, and replacement of common elements.
Key Highlights
- 49‑foot deep by 23‑foot‑wide shop with a 14‑foot‑tall overhead door
- Private gated area with room to turn a boat or RV
- Radiant natural gas in‑floor heat with an independent heating system
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
$19,459
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
5.08%
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%
$389,180
$389.2K
Cap Rate 7%
$277,986
$278.0K
Cap Rate 9%
$216,211
$216.2K
Market Conditions
NOI Build-Up for 1,127 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
$31.6K $28.08/SF
− Vacancy
−$1.7K −$1.52/SF
EGI
$29.9K $26.56/SF
− OpEx
−$10.5K −$9.30/SF
NOI
$19.5K $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%
$389,180
Cap Rate 7%
$277,986
Cap Rate 9%
$216,211
Alternative Uses
Best Use
Flex RnD
$278.0K
$243.2K – $324.3K
NOI $19,459 @ 7.0% cap · market cap 5.08%
Second Best
Warehouse
$120.9K
$105.8K – $141.1K
NOI $8,464 @ 7.0% cap · market cap 2.21%
Theoretical Best
Multifamily LT 5
$7.82M
$6.84M – $9.12M
NOI $547,145 @ 7.0% cap · market cap 142.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with a gated private shop area, concrete floors, and radiant natural gas in-floor heating.
Where is this flex space located?
The property is located at 34227 Industrial Street Soldotna, AK.
What is the asking price?
The asking price for this property is $382,800.
What are key features of this property?
This property features: 49‑foot deep by 23‑foot‑wide shop with a 14‑foot‑tall overhead door; Private gated area with room to turn a boat or RV; Radiant natural gas in‑floor heat with an independent heating system
