Industrial Property with Warehouse
For Sale
$2,225,000
345 Boniface Pkwy, Anchorage, AK 99504
Warehouse/shop space with office on 0.92 acres of industrial land.
Property Size12,776 SF
Lot Size0.92 Acres
Price / SF$174.15
Days on Market989
Property Features for 345 Boniface Pkwy
General Information
Standard status
Active
Size
12,776 SF
Lot size
0.92 Acres
Site & Location
Neighborhood
Northeast
Taxes and HOA fees
Annual Taxes
$15,539
Listing Agency:
Spire Commercial
(907) 230-1523
Listed By:
Ryan Schwalbe · License #194501
(907) 231-0380
Source:
Exprealty
Added: Feb 9, 2024
Changed: Oct 21
Last Checked: Oct 24 at 8:59PM
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
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Investment Insights
Based on property information with market context.
The property features approximately 12,776 square feet of warehouse and shop space, complemented by around 500 square feet of office area. It is situated on a 40,196 square foot (0.92 acres) lot zoned I1: Light Industrial, providing ample yard space. The location benefits from high traffic volume, with an Average Annual Daily Traffic (AADT) of over 22,000 on Boniface Parkway and over 67,000 on the Glenn Highway. The warehouse portion includes a tall clear height box shop, a mezzanine, a showroom, and Quonset space. The property is equipped with six overhead doors, 3-phase electric power, and floor drains.
Key Highlights
- High traffic location: AADT of 22,000+ on Boniface and 67,000+ on Glenn Hwy.
- Large lot size: 40,196sf (0.92 acres) of I1 Light Industrial land with ample yard space.
- Extensive warehouse/shop space: Approximately 12,776sf.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,953
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,139,060
$3.1M
Cap Rate 7%
$2,242,186
$2.2M
Cap Rate 9%
$1,743,922
$1.7M
Market Conditions
NOI Build-Up for 12,776 SF
Gross rent
$268.3K $21.00/SF
− Vacancy
−$59.0K −$4.62/SF
EGI
$209.3K $16.38/SF
− OpEx
−$52.3K −$4.10/SF
NOI
$157.0K $12.29/SF
Area
Anchorage, AK
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,139,060
Cap Rate 7%
$2,242,186
Cap Rate 9%
$1,743,922
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.62M
NOI $156,953 @ 7.0% cap · market cap 7.05%
Second Best
Warehouse
$2.18M
$1.90M – $2.54M
NOI $152,306 @ 7.0% cap · market cap 6.85%
Theoretical Best
Specialty Retail
$3.47M
$3.04M – $4.05M
NOI $242,846 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Demographics for 99504, AK
42,375
Population
17,720
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
1,151
Density / Sq Mi
$83,338
Median Household Income
$46,883
Median Earnings
$1,529
Median Rent
$309,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse/shop space with office on 0.92 acres of industrial land.
Where is this warehouse located?
The property is located at 345 Boniface Pkwy Anchorage, AK.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: High traffic location: AADT of 22,000+ on Boniface and 67,000+ on Glenn Hwy.; Large lot size: 40,196sf (0.92 acres) of I1 Light Industrial land with ample yard space.; Extensive warehouse/shop space: Approximately 12,776sf.
