Nikiski Warehouse and Shop on
For Sale
$710,000
51950 Old Nikishka Beach Rd, Kenai, AK 99611
Warehouse, shop, and Quonset on 5 acres in Nikiski, AK.
Property Size9,880 SF
Lot Size5.00 Acres
Price / SF$71.86
Days on Market197
Property Features for 51950 Old Nikishka Beach Rd
General Information
Standard status
Active
Size
9,880 SF
Lot size
5.00 Acres
Property subtype
Land
Listing Agency:
Bond Filipenko Commercial Properties, LLC
(907) 952-1884
Listed By:
Mark Filipenko · License #16113
(907) 952-1884
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Jul 29 at 9:19AM
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 Bond Filipenko Commercial Properties, LLC
Investment Insights
Based on property information with market context.
This property in Nikiski, Alaska, features a 9,880 square foot warehouse, a 1,080 square foot shop, a 6,825 square foot Quonset structure, and a 70 square foot storage shed, all situated on 5 acres of land. The location offers convenient access to the Kenai Spur Highway and nearby amenities.
Key Highlights
- 5 Acres of land
- 9,880 SF warehouse offers ample space.
- Convenient location off Kenai Spur Highway
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
$61,105
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
8.61%
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%
$1,222,100
$1.2M
Cap Rate 7%
$872,929
$872.9K
Cap Rate 9%
$678,944
$678.9K
Market Conditions
NOI Build-Up for 9,880 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
$93.7K $9.48/SF
− Vacancy
−$6.4K −$0.64/SF
EGI
$87.3K $8.84/SF
− OpEx
−$26.2K −$2.65/SF
NOI
$61.1K $6.18/SF
Area
Kenai Peninsula County, AK
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,222,100
Cap Rate 7%
$872,929
Cap Rate 9%
$678,944
Alternative Uses
Best Use
Warehouse
$1.06M
$927.5K – $1.24M
NOI $74,199 @ 7.0% cap · market cap 10.45%
Second Best
Industrial
$872.9K
$763.8K – $1.02M
NOI $61,105 @ 7.0% cap · market cap 8.61%
Theoretical Best
Multifamily LT 5
$68.52M
$59.96M – $79.94M
NOI $4,796,622 @ 7.0% cap · market cap 675.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99611, AK
15,827
Population
7,130
Households
2.2
Avg Household Size
38
Median Age
24%
College-Educated
94%
High-School Grad
526.8 sq mi
ZIP Area
30
Density / Sq Mi
$69,816
Median Household Income
$47,259
Median Earnings
$1,108
Median Rent
$279,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse, shop, and Quonset on 5 acres in Nikiski, AK.
Where is this warehouse located?
The property is located at 51950 Old Nikishka Beach Rd Kenai, AK.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 5 Acres of land; 9,880 SF warehouse offers ample space.; Convenient location off Kenai Spur Highway
