Side-by-Side Flex
5401 Cordova Street #102-103, Anchorage, AK 99518
For Sale
New
$499,900
Two adjoining commercial units are leased month to month, with tenants expressing interest in remaining.
Property Size2,000 SF
Price / SF$249.95
Days on Market4
Property Features for 5401 Cordova Street #102-103
General Information
Standard status
Size
Zoning
Site & Location
Neighborhood
Additional Details
Tenant in Place
Amenities
Other
2000
Building Details
Building Size
Stories
Listing Agency:
(907) 312-2438
Listed By:
Ryan Cardoza
Source:
Svrealtyak
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 3:02AM
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 Ryan Cardoza
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property comprises two adjoining commercial condominium units, identified as #102 and #103. Both are occupied under month-to-month leases, and the current tenants wish to stay. The property is zoned I1 - Light Industrial, and owner financing is available.
The end building is the first one encountered from the main road and plaza entrance. It is near C Street and International Airport Road. The association covers water, sewer, refuse service, exterior maintenance, grounds, and reserves; recent roof replacements are reflected in the association dues.
The end building is the first one encountered from the main road and plaza entrance. It is near C Street and International Airport Road. The association covers water, sewer, refuse service, exterior maintenance, grounds, and reserves; recent roof replacements are reflected in the association dues.
Key Highlights
- Two side‑by‑side flex condominium units, #102 and #103
- Both units have month‑to‑month tenants who want to stay
- End building is first seen from the main road and plaza entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,714
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,280
$454.3K
Cap Rate 7%
$324,486
$324.5K
Cap Rate 9%
$252,378
$252.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$38.4K $19.20/SF
− Vacancy
−$3.5K −$1.73/SF
EGI
$34.9K $17.47/SF
− OpEx
−$12.2K −$6.12/SF
NOI
$22.7K $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%
$454,280
Cap Rate 7%
$324,486
Cap Rate 9%
$252,378
Alternative Uses
Best Use
Flex RnD
$324.5K
$283.9K – $378.6K
NOI $22,714 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$301.3K
$263.7K – $351.5K
NOI $21,092 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
$297,900
Median Home Value
Market
Average Price Trend$/SF for Flex space in Anchorage, AK
Properties on Market for Flex space in Anchorage
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Two adjoining commercial units are leased month to month, with tenants expressing interest in remaining.
Where is this flex space located?
The property is located at 5401 Cordova Street #102-103 Anchorage, AK.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two side‑by‑side flex condominium units, #102 and #103; Both units have month‑to‑month tenants who want to stay; End building is first seen from the main road and plaza entrance
