Garage Condo Flex
New
For Sale
Contact for pricing
6155 E Mountain Heather Wy, Wasilla, AK 99654
Secure gated access supports storage, business operations, and personal use.
Property Size1,000 SF
Price / SF$299
Days on Market3
Property Features for 6155 E Mountain Heather Wy
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Amenities
24/7 secure gated access
on-site dump station
Listing Agency:
Signature Real Estate Alaska
Listed By:
Jeremiah Benson · License #AK 140259
(907) 631-3033
Source:
Crexi
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 3:19PM
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 Signature Real Estate Alaska
Investment Insights
Based on property information with market context.
This flex space garage condo provides a versatile setting for storing business supplies, equipment, classic cars, boats, RVs, and seasonal items. The unit measures 20' x 50' and includes a 12' x 14' door, plus a bathroom and sink for on-site convenience. The space can also accommodate business activity or personal recreation.
Located on the Palmer-Wasilla Hwy near Hyer Road, the property offers 24/7 access through a secure gated entry. The development includes a paved parking lot and an on-site dump station, adding practical support for a range of storage and workspace needs.
Located on the Palmer-Wasilla Hwy near Hyer Road, the property offers 24/7 access through a secure gated entry. The development includes a paved parking lot and an on-site dump station, adding practical support for a range of storage and workspace needs.
Key Highlights
- 20' x 50' unit with 12' x 14' door
- 24/7 secure gated access
- Bathroom and sink included in each unit
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
$11,115
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
3.72%
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%
$222,300
$222.3K
Cap Rate 7%
$158,786
$158.8K
Cap Rate 9%
$123,500
$123.5K
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
$18.0K $18.00/SF
− Vacancy
−$900 −$0.90/SF
EGI
$17.1K $17.10/SF
− OpEx
−$6.0K −$5.98/SF
NOI
$11.1K $11.11/SF
Area
Matanuska-Susitna County, AK
Vacancy
5.00%
Lease Rate
$18.00 /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%
$222,300
Cap Rate 7%
$158,786
Cap Rate 9%
$123,500
Alternative Uses
Best Use
Flex RnD
$158.8K
$138.9K – $185.3K
NOI $11,115 @ 7.0% cap · market cap 3.72%
Second Best
Warehouse
$116.1K
$101.6K – $135.5K
NOI $8,127 @ 7.0% cap · market cap 2.72%
Theoretical Best
Multifamily LT 5
$7.39M
$6.47M – $8.62M
NOI $517,499 @ 7.0% cap · market cap 173.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Demographics for 99654, AK
40,726
Population
17,006
Households
2.4
Avg Household Size
35
Median Age
24%
College-Educated
95%
High-School Grad
113.6 sq mi
ZIP Area
359
Density / Sq Mi
$93,739
Median Household Income
$53,748
Median Earnings
$1,233
Median Rent
$342,200
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 - Secure gated access supports storage, business operations, and personal use.
Where is this flex space located?
The property is located at 6155 E Mountain Heather Wy Wasilla, AK.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 20' x 50' unit with 12' x 14' door; 24/7 secure gated access; Bathroom and sink included in each unit
