Multifamily Property with State
For Sale
$3,000,000
567 Friends Way, Kotzebue, AK 99752
State-backed lease runs through 2038, with utilities and light maintenance paid by the State.
Property Size11,568 SF
Price / SF$259.34
Days on Market24
Property Features for 567 Friends Way
General Information
Standard status
Active
Size
11,568 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
8.8%
Building Details
Year Built
2003
Tenancy
Single
Listing Agency:
RE/MAX Dynamic Properties
Listed By:
Matthew Fink · License #11733
(907) 244-4194
Source:
Kachemakgrouprealestate
Added: Aug 12
Changed: Sep 3
Last Checked: Sep 4 at 11:01AM
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 RE/MAX Dynamic Properties
Investment Insights
Based on property information with market context.
Built in 2003, this 11,568-square-foot multifamily property in Kotzebue includes units configured with three bedrooms and 2.5 baths. The property serves as housing for State Troopers across western Alaska.
A State of Alaska-backed lease extends through 2038, with 2% increases beginning in March 2026. The State also covers utilities and light maintenance. The offering reflects an 8.8% capitalization rate, with additional package materials available upon request.
A State of Alaska-backed lease extends through 2038, with 2% increases beginning in March 2026. The State also covers utilities and light maintenance. The offering reflects an 8.8% capitalization rate, with additional package materials available upon request.
Key Highlights
- 11,568‑square‑foot multifamily property built in 2003
- Units feature 3 bedrooms and 2.5 baths
- State of Alaska‑backed lease expires in 2038
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Demographics for 99752, AK
3,276
Population
1,227
Households
2.7
Avg Household Size
32
Median Age
21%
College-Educated
93%
High-School Grad
3,968.4 sq mi
ZIP Area
1
Density / Sq Mi
$106,328
Median Household Income
$65,187
Median Earnings
$1,610
Median Rent
$264,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - State-backed lease runs through 2038, with utilities and light maintenance paid by the State.
Where is this multifamily property located?
The property is located at 567 Friends Way Kotzebue, AK.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 11,568‑square‑foot multifamily property built in 2003; Units feature 3 bedrooms and 2.5 baths; State of Alaska‑backed lease expires in 2038
