Retail Building with Warehouse
For Sale
$4,700,000
35618 Kenai Spur Highway, Soldotna, AK 99669
High-traffic retail building with warehouse and loading capabilities.
Property Size37,415 SF
Price / SF$125.62
Days on Market211
Property Features for 35618 Kenai Spur Highway
General Information
Standard status
Active
Size
37,415 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1973
Listing Agency:
Colliers International
(907) 223-3332
Listed By:
Colliers International
(907) 223-3332
Source:
Xome
Added: Jan 24
Changed: Aug 23
Last Checked: Aug 23 at 3:37AM
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 Colliers International
Investment Insights
Based on property information with market context.
This commercial property features a retail building with warehouse and loading capabilities. The building is equipped with dock and roll-up doors and a sprinkler system. The property benefits from high traffic, making it suitable for retail purposes.
Key Highlights
- High traffic retail location
- Excellent warehouse/loading capabilities
- Dock door access for efficient deliveries
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
$280,989
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
5.98%
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%
$5,619,780
$5.6M
Cap Rate 7%
$4,014,129
$4.0M
Cap Rate 9%
$3,122,100
$3.1M
Market Conditions
NOI Build-Up for 37,415 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
$354.7K $9.48/SF
− Vacancy
−$24.1K −$0.64/SF
EGI
$330.6K $8.84/SF
− OpEx
−$49.6K −$1.33/SF
NOI
$281.0K $7.51/SF
Area
Kenai Peninsula County, AK
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$5,619,780
Cap Rate 7%
$4,014,129
Cap Rate 9%
$3,122,100
Alternative Uses
Best Use
Retail
$8.60M
$7.53M – $10.04M
NOI $602,172 @ 7.0% cap · market cap 12.81%
Second Best
Warehouse
$4.01M
$3.51M – $4.68M
NOI $280,989 @ 7.0% cap · market cap 5.98%
Theoretical Best
Multifamily LT 5
$259.49M
$227.06M – $302.74M
NOI $18,164,537 @ 7.0% cap · market cap 386.48%
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?
Retail space - High-traffic retail building with warehouse and loading capabilities.
Where is this retail space located?
The property is located at 35618 Kenai Spur Highway Soldotna, AK.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: High traffic retail location; Excellent warehouse/loading capabilities; Dock door access for efficient deliveries
