End-Unit Flex Space with Garage
For Sale
$250,000
Pending
5401 Cordova Street, Anchorage, AK 99518
Commercial Sale, Anchorage, AK
Property Size1,000 SF
Days on Market110
Property Features for 5401 Cordova Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I1 - Light Industrial
Subdivision
1A - Anchorage Municipality
Standard status
Pending
APN
0092423500101
Size
1,000 SF
Taxes and HOA fees
Tax Description
Spruce Heights #4 L3 B1 Airport Plaza
Legal Description
Spruce Heights #4 L3 B1 Airport Plaza
Building Details
Floors in Building
1
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Peter Carpenter · License #110384
(907) 854-8404
Added: Jun 29
Changed: Oct 6
Last Checked: Oct 16 at 10:06PM
MLS# 26-7891
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,000-square-foot flex space is a commercial condominium configured as an end unit with a garage door. The property is currently occupied by a construction company under a month-to-month lease. Its position at the plaza entrance provides direct orientation toward the main road.
The property is near C Street and International Airport Road in Anchorage. I1 - Light Industrial zoning supports its existing commercial setting. The association covers water, sewer, refuse, exterior maintenance, grounds, and reserves, while recent roof replacements are reflected in the association dues.
The unit may also be acquired as part of a side-by-side package comprising Units 101, 102, and 103.
The property is near C Street and International Airport Road in Anchorage. I1 - Light Industrial zoning supports its existing commercial setting. The association covers water, sewer, refuse, exterior maintenance, grounds, and reserves, while recent roof replacements are reflected in the association dues.
The unit may also be acquired as part of a side-by-side package comprising Units 101, 102, and 103.
Key Highlights
- 1,000 SQFT commercial condominium
- End‑unit position at the plaza entrance with main‑road orientation
- Garage door included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,357
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,140
$227.1K
Cap Rate 7%
$162,243
$162.2K
Cap Rate 9%
$126,189
$126.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$19.2K $19.20/SF
− Vacancy
−$1.7K −$1.73/SF
EGI
$17.5K $17.47/SF
− OpEx
−$6.1K −$6.12/SF
NOI
$11.4K $11.36/SF
Area
Anchorage, AK
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,140
Cap Rate 7%
$162,243
Cap Rate 9%
$126,189
Alternative Uses
Best Use
Flex RnD
$162.2K
$142.0K – $189.3K
NOI $11,357 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$150.7K
$131.8K – $175.8K
NOI $10,546 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Demographics for 99518, AK
9,861
Population
4,568
Households
2.2
Avg Household Size
36
Median Age
32%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
2,595
Density / Sq Mi
$91,077
Median Household Income
$49,761
Median Earnings
$1,661
Median Rent
$297,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo with I1 - Light Industrial zoning and convenient plaza access.
Where is this flex space located?
The property is located at 5401 Cordova Street Anchorage, AK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,000 SQFT commercial condominium; End‑unit position at the plaza entrance with main‑road orientation; Garage door included
