End-Unit Retail
For Sale
$250,000
5401 Cordova Street, Anchorage, AK 99518
Commercial Sale, Anchorage, AK
Property Size1,000 SF
Price / SF$250
Days on Market102
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
Active
APN
0092423500301
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
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Peter Carpenter · License #110384
(907) 854-8404
Added: Jun 29
Changed: Oct 2
Last Checked: Oct 8 at 1:06AM
MLS# 26-7893
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.
Investment Insights
Based on property information with market context.
This 1,000-square-foot commercial condominium is configured with a retail entrance and occupies an end position within the plaza. The space is currently used by a hair salon under a month-to-month lease. The property is zoned I1 - Light Industrial and may be acquired alongside two adjoining units as a three-unit package comprising Units 101, 102, and 103.
The condo is positioned near C Street and International Airport Road, at the plaza entrance and along the main road. The association covers water, sewer, refuse, exterior maintenance, grounds, and reserves. Recent roof replacement work is reflected in the association dues.
The condo is positioned near C Street and International Airport Road, at the plaza entrance and along the main road. The association covers water, sewer, refuse, exterior maintenance, grounds, and reserves. Recent roof replacement work is reflected in the association dues.
Key Highlights
- 1,000‑square‑foot commercial condominium
- End position at the plaza entrance along the main road
- Retail entrance with current hair salon use under a month‑to‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,846
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,920
$336.9K
Cap Rate 7%
$240,657
$240.7K
Cap Rate 9%
$187,178
$187.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$25.2K $25.20/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$24.1K $24.07/SF
− OpEx
−$7.2K −$7.22/SF
NOI
$16.8K $16.85/SF
Area
Anchorage, AK
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,920
Cap Rate 7%
$240,657
Cap Rate 9%
$187,178
Alternative Uses
Best Use
Retail
$240.7K
$210.6K – $280.8K
NOI $16,846 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
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
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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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - I1-zoned commercial condominium with a retail entry and an existing month-to-month salon lease.
Where is this storefront property 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‑square‑foot commercial condominium; End position at the plaza entrance along the main road; Retail entrance with current hair salon use under a month‑to‑month lease
