Freestanding QSR with
401 W Evergreen Ave Palmer, AK 99645
401 W Evergreen Ave, Palmer, AK, 99645
$1,700,000
For Sale
$1,700,000
Built-out freestanding restaurant with drive-through, walk-ins, grease interceptor, and kitchen hood systems.
Property Size3,740 SF
Lot Size0.87 Acres
Price / SF$454.55
Days on Market22
Property Features for 401 W Evergreen Ave
General Information
- Standard status
- Active
- Size
- 3,740 SF
- Lot size
- 0.87 Acres
Listing agency
Jack White Commercial
(907) 563-5500
Listed by
Andrew Ingram · License #AK17954
(907) 563-5500
Source
Exprealty
Added: Jul 1 Updated: Jul 22 at 12:04AM Checked: Jul 22 at 12:04AM
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 Jack White Commercial
Investment Insights
Based on property information with market context.
Built-out freestanding QSR restaurant featuring a drive-through and existing interior improvements for operational use. The property includes kitchen hood systems, a grease interceptor, walk-in coolers/freezers, and installed plumbing, helping reduce buildout work versus starting from new construction. Indoor play is also in place. The building was constructed in 2000 and totals 3,740 square feet on 0.87 acres.
The site is located in Palmer, next to Fred Meyer, providing convenient access for retail traffic in the immediate area.
For sale as a turn-key, second-generation restaurant option with drive-through service already configured and key back-of-house components installed. Buyer to verify all details.
The site is located in Palmer, next to Fred Meyer, providing convenient access for retail traffic in the immediate area.
For sale as a turn-key, second-generation restaurant option with drive-through service already configured and key back-of-house components installed. Buyer to verify all details.
Key Highlights
- Freestanding QSR with drive‑through next to Fred Meyer in Palmer
- 3,740 SF restaurant built in 2000 on 0.87 acres
- Built‑out second‑generation restaurant features kitchen hood systems and existing walk‑ins
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.5k | $21.00 |
| − Vacancy | −$4.7k | −$1.26 |
| EGI | $73.8k | $19.74 |
| − OpEx | −$18.5k | −$4.94 |
| NOI | $55.4k | $14.81 |
3,740 SF · lease $21.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$791.0K
$692.1K – $922.9K
NOI $55,371 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$27.65M
$24.19M – $32.26M
NOI $1,935,447 @ 7.0% cap · market cap 113.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dairy Queen Grill ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Built-out freestanding restaurant with drive-through, walk-ins, grease interceptor, and kitchen hood systems.
Where is this drive through restaurant located?
The property is located at 401 W Evergreen Ave Palmer, AK.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Freestanding QSR with drive‑through next to Fred Meyer in Palmer; 3,740 SF restaurant built in 2000 on 0.87 acres; Built‑out second‑generation restaurant features kitchen hood systems and existing walk‑ins
