Flex Warehouse with Drive-Up
For Sale
$1,850,000
3674 E Country Field Cir, Wasilla, AK 99654
Multi-use flex building with warehouse space, a drive-up window, and ample parking on 1.5 acres.
Property Size7,818 SF
Lot Size1.50 Acres
Price / SF$236.63
Days on Market396
Property Features for 3674 E Country Field Cir
General Information
Standard status
Active
Size
7,818 SF
Lot size
1.50 Acres
Listing Agency:
Elite Real Estate Group
(907) 376-7653
Listed By:
Jeff Goyette
(907) 746-7890
Source:
Exprealty
Added: Aug 6, 2025
Changed: Sep 4
Last Checked: Sep 5 at 10:25AM
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 Elite Real Estate Group
Investment Insights
Based on property information with market context.
This 7,818 SF flex building on 1.5 acres is set up to support multiple business uses, with space that can be used for office, medical, or retail. The property includes warehouse space and a drive-up window, designed for customers and deliveries, along with lots of parking to support day-to-day operations.
The building is located near the intersection of P-W Highway and Seward Meridian. AKDOT added a stoplight on Seward Meridian to support easier access for vehicles entering and exiting the area.
For sale, and the property is also available for lease (see MLS#25-10021).
The building is located near the intersection of P-W Highway and Seward Meridian. AKDOT added a stoplight on Seward Meridian to support easier access for vehicles entering and exiting the area.
For sale, and the property is also available for lease (see MLS#25-10021).
Key Highlights
- Multi‑use flex building on 1.5 acres with 7,818 SF available for office, medical, or retail use
- Includes warehouse space plus a drive‑up window
- Ample on‑site parking
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
$108,920
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
5.89%
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%
$2,178,400
$2.2M
Cap Rate 7%
$1,556,000
$1.6M
Cap Rate 9%
$1,210,222
$1.2M
Market Conditions
NOI Build-Up for 7,818 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
$187.6K $24.00/SF
− Vacancy
−$42.4K −$5.42/SF
EGI
$145.2K $18.58/SF
− OpEx
−$36.3K −$4.64/SF
NOI
$108.9K $13.93/SF
Area
Matanuska-Susitna County, AK
Vacancy
22.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,178,400
Cap Rate 7%
$1,556,000
Cap Rate 9%
$1,210,222
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.82M
NOI $108,920 @ 7.0% cap · market cap 5.89%
Second Best
Flex RnD
$1.24M
$1.09M – $1.45M
NOI $86,897 @ 7.0% cap · market cap 4.70%
Theoretical Best
Multifamily LT 5
$57.80M
$50.57M – $67.43M
NOI $4,045,808 @ 7.0% cap · market cap 218.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99654, AK
40,726
Population
17,006
Households
2.4
Avg Household Size
35
Median Age
24%
College-Educated
95%
High-School Grad
113.6 sq mi
ZIP Area
359
Density / Sq Mi
$93,739
Median Household Income
$53,748
Median Earnings
$1,233
Median Rent
$342,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-use flex building with warehouse space, a drive-up window, and ample parking on 1.5 acres.
Where is this flex space located?
The property is located at 3674 E Country Field Cir Wasilla, AK.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Multi‑use flex building on 1.5 acres with 7,818 SF available for office, medical, or retail use; Includes warehouse space plus a drive‑up window; Ample on‑site parking
