Soldotna Flex Space with
For Sale
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35126 Kb Drive, Soldotna, AK 99669
9,600 sq ft flex space with office and warehouse.
Property Size9,600 SF
Lot Size0.92 Acres
Price / SF$156.25
Days on Market182
Property Features for 35126 Kb Drive
General Information
Standard status
Active
Size
9,600 SF
Lot size
0.92 Acres
Property subtype
Special Purpose
Listing Agency:
Century 21 Realty Solutions
Listed By:
Jamey Wood · License #AK
Source:
Crexi
Added: Feb 23
Changed: Aug 23
Last Checked: Aug 22 at 12:53PM
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
Investment Insights
Based on property information with market context.
This property, located in Soldotna, Alaska, features a 9,600 sq. ft. building situated on a 0.92-acre lot, according to tax records. The building includes approximately 5,100 sq. ft. of office space, containing 9 offices, and approximately 4,500 sq. ft. of shop/warehouse space. The layout incorporates a break room and separate men’s and women’s bathrooms. The warehouse area is divided into two sections with a parts/tool room situated in between. One shop area is equipped with three large overhead doors, each approximately 14 feet tall, while the second shop area has one overhead door. High-end office furniture is included in the sale.
Key Highlights
- 9,600 sq. ft. building with a mix of office and shop/warehouse space.
- Located on a 0.92‑acre lot.
- Two warehouse areas, one featuring three 14’ tall overhead 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
$59,374
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
3.96%
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%
$1,187,480
$1.2M
Cap Rate 7%
$848,200
$848.2K
Cap Rate 9%
$659,711
$659.7K
Market Conditions
NOI Build-Up for 9,600 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
$91.0K $9.48/SF
− Vacancy
−$6.2K −$0.64/SF
EGI
$84.8K $8.84/SF
− OpEx
−$25.4K −$2.65/SF
NOI
$59.4K $6.18/SF
Area
Kenai Peninsula County, AK
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,187,480
Cap Rate 7%
$848,200
Cap Rate 9%
$659,711
Alternative Uses
Best Use
Flex RnD
$2.37M
$2.07M – $2.76M
NOI $165,757 @ 7.0% cap · market cap 11.05%
Second Best
Industrial
$848.2K
$742.2K – $989.6K
NOI $59,374 @ 7.0% cap · market cap 3.96%
Theoretical Best
Multifamily LT 5
$66.58M
$58.26M – $77.68M
NOI $4,660,686 @ 7.0% cap · market cap 310.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - 9,600 sq ft flex space with office and warehouse.
Where is this flex space located?
The property is located at 35126 Kb Drive Soldotna, AK.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,600 sq. ft. building with a mix of office and shop/warehouse space.; Located on a 0.92‑acre lot.; Two warehouse areas, one featuring three 14’ tall overhead doors.
