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 Market60
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
Listed By:
Annie H Johnson · License #191843
(907) 312-7660
Source:
Kachemakgrouprealestate
Added: Aug 17
Changed: Sep 13
Last Checked: Oct 7 at 3:52PM
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 / Yr
$93,027
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
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
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 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.
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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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
