End-Unit Flex
For Sale
$250,000
5401 Cordova St # 102, Anchorage, AK 99518
Commercial condo with a garage door and month-to-month occupancy.
Property Size1,000 SF
Price / SF$250
Days on Market114
Property Features for 5401 Cordova St # 102
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Additional Details
Drive-In Doors
1
Amenities
garage door
Building Details
Tenancy
Single
Listing Agency:
EXP Realty, LLC
(907) 854-8404
Listed By:
Peter Carpenter · License #110384
Source:
Viewanchoragehouses
Added: May 11
Changed: Aug 31
Last Checked: Aug 31 at 5:40PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,000-square-foot commercial condominium is configured as an end unit with a garage door. The space is currently occupied by a courier service under a month-to-month lease.
The property is positioned near C Street and International Airport Road, at the main-road side and plaza entrance. Association services include water, sewer, refuse collection, exterior maintenance, grounds care, and reserves. Recent roof replacements are reflected in the association dues. Units 101, 102, and 103 are available for package sale.
The property is positioned near C Street and International Airport Road, at the main-road side and plaza entrance. Association services include water, sewer, refuse collection, exterior maintenance, grounds care, and reserves. Recent roof replacements are reflected in the association dues. Units 101, 102, and 103 are available for package sale.
Key Highlights
- 1,000‑square‑foot commercial condominium
- End unit at the main‑road side and plaza entrance
- Garage door included
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
$11,357
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
4.54%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Single-tenant
Tenancy
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
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo with a garage door and month-to-month occupancy.
Where is this flex space located?
The property is located at 5401 Cordova St # 102 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‑square‑foot commercial condominium; End unit at the main‑road side and plaza entrance; Garage door included
