Multi-Tenant Mixed-Use
For Sale
$1,045,000
500 Adams St, Seward, AK 99664
The property includes five businesses, two residential tenants, and a vacant small office suite.
Property Size6,509 SF
Price / SF$160.55
Days on Market14
Property Features for 500 Adams St
General Information
Standard status
Active
Size
6,509 SF
Zoning
Central Business District
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Seward Properties
(907) 312-7660
Listed By:
Annie H Johnson · License #191843
Source:
Kachemakgrouprealestate
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 29 at 11:47AM
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 Seward Properties
Investment Insights
Based on property information with market context.
Built in 1915, this 6,509-square-foot mixed-use commercial building occupies a Central Business District location at 500 Adams St. The property currently contains five business tenants and two residential tenants, with one small office space available for occupancy. Tenants pay their own electric service, and the building has received updates over time.
The property is situated in downtown Seward, two blocks from the waterfront and near shops and restaurants. Existing unit sizes allow for varied commercial configurations, while several spaces could be reworked for residential use with kitchens or live/work arrangements, subject to applicable requirements.
The property is situated in downtown Seward, two blocks from the waterfront and near shops and restaurants. Existing unit sizes allow for varied commercial configurations, while several spaces could be reworked for residential use with kitchens or live/work arrangements, subject to applicable requirements.
Key Highlights
- 6,509‑square‑foot mixed‑use commercial building
- Built in 1915
- Central Business District zoning
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
$93,027
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
8.90%
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%
$1,860,540
$1.9M
Cap Rate 7%
$1,328,957
$1.3M
Cap Rate 9%
$1,033,633
$1.0M
Market Conditions
NOI Build-Up for 6,509 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
$156.2K $24.00/SF
− Vacancy
−$32.2K −$4.94/SF
EGI
$124.0K $19.06/SF
− OpEx
−$31.0K −$4.76/SF
NOI
$93.0K $14.29/SF
Area
Kenai Peninsula County, AK
Vacancy
20.60%
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%
$1,860,540
Cap Rate 7%
$1,328,957
Cap Rate 9%
$1,033,633
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,027 @ 7.0% cap · market cap 8.90%
Second Best
Mixed Use
$641.6K
$561.4K – $748.5K
NOI $44,912 @ 7.0% cap · market cap 4.30%
Theoretical Best
Multifamily LT 5
$45.14M
$39.50M – $52.67M
NOI $3,160,042 @ 7.0% cap · market cap 302.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 99664, AK
5,155
Population
2,171
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
94%
High-School Grad
2,688.3 sq mi
ZIP Area
2
Density / Sq Mi
$83,101
Median Household Income
$51,685
Median Earnings
$1,158
Median Rent
$335,500
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?
Mixed-use property - The property includes five businesses, two residential tenants, and a vacant small office suite.
Where is this mixed-use property located?
The property is located at 500 Adams St Seward, AK.
What is the asking price?
The asking price for this property is $1,045,000.
What are key features of this property?
This property features: 6,509‑square‑foot mixed‑use commercial building; Built in 1915; Central Business District zoning
