Freestanding QSR with
For Sale
$1,700,000
401 W Evergreen Ave, Palmer, AK 99645
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 Market204
Property Features for 401 W Evergreen Ave
General Information
Standard status
Active
Size
3,740 SF
Lot size
0.87 Acres
Property subtype
Commercial
Lease Type
NNN
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Building Details
Year Built
2000
Listing Agency:
Jack White Commercial
Listed By:
Andrew Ingram · License #AK17954
(907) 563-5500
Source:
Seehomesinalaska
Added: Apr 2
Changed: Oct 1
Last Checked: Oct 20 at 9:29PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,371
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,107,420
$1.1M
Cap Rate 7%
$791,014
$791.0K
Cap Rate 9%
$615,233
$615.2K
Market Conditions
NOI Build-Up for 3,740 SF
Gross rent
$78.5K $21.00/SF
− Vacancy
−$4.7K −$1.26/SF
EGI
$73.8K $19.74/SF
− OpEx
−$18.5K −$4.94/SF
NOI
$55.4K $14.81/SF
Area
Matanuska-Susitna County, AK
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,107,420
Cap Rate 7%
$791,014
Cap Rate 9%
$615,233
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Demographics for 99645, AK
28,818
Population
12,021
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
95%
High-School Grad
586.2 sq mi
ZIP Area
49
Density / Sq Mi
$97,069
Median Household Income
$51,710
Median Earnings
$1,309
Median Rent
$338,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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
