Commercial Real Estate Market in Kenai, AK
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
131 active listings and 865 off-market properties in Kenai, AK. Commercial property asks $412/SF to buy and $16.95/SF/Yr to lease.
Market Trends
Kenai, AK spans 5,431.7 square miles in Kenai Peninsula County, Alaska. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Kenai, AK runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Kenai, AK runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Kenai, AK runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Kenai, AK runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 74.1%
- Industrial 10.8%
- Open space 7.7%
- Commercial 5.4%
- Mixed use 1%
- Civic 0.8%
- Special 0.3%
Largest Zones share of zoned land by district
Rural Residential
Conservation
Suburban Residential
Airport Light Industrial
General Commercial
Kenai, AK zones 18,141 acres across 18 districts. Commercial zoning covers 5.4% of zoned land, residential 74.1%, open space 7.7% and industrial 10.8%. The largest single district is Rural Residential at 65.1%. For commercial buyers the practical constraint is that only 16.2% of land carries a commercial or industrial designation.
Rural Residential (RR)
Rural Residential Zones (RR, RR-1 Zones). Search Within This This section is included in your selections. (a) Intent. The RR Zone is intended to provide for low density residential development in outlying and rural areas in a form which creates a stable and attractive residential environment. The specific intent in establishing this zone is: (1) To separate…
Market overview
Demographics & Economy
Kenai, AK has 15,851 residents in 7,184 households. Density runs 3 people per square mile. Median household income here is $69,816 and median gross rent $1,108 a month.
15,851
Population
7,184
Households
2.2
Avg Household Size
38
Median Age
24%
College-Educated
94%
High-School Grad
5431.7 sq mi
ZIP Area
3
Density / Sq Mi
$69,816
Median Household Income
$47,259
Median Earnings
$1,108
Median Rent
$279,800
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Kenai?
Commercial property in Kenai, AK asks an average of $412 per square foot.
How much does it cost to lease commercial space in Kenai?
Asking lease rates in Kenai, AK average $16.95 per square foot per year.
What zoning applies to commercial property in Kenai?
Kenai, AK zones 18,141 acres across 18 districts, of which 5.4% is commercial and 10.8% industrial. The largest single district is Rural Residential at 65.1% of zoned land. Rural Residential Zones (RR, RR-1 Zones). Search Within This This section is included in your selections. (a) Intent. The RR Zone is intended to provide for low density residential development in outlying and rural areas in a form which creates a stable and attractive residential environment. The specific intent in establishing this zone is: (1) To separate… Residential zoning covers 74.1% and open space 7.7%.
Where does Realmo's Kenai market data come from?
Realmo compiles Kenai, AK figures from 107 active sale listings, 24 active lease listings, 865 tracked off-market properties, the current Kenai zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 107 active for-sale and 24 active for-lease listings in Kenai, AK. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 18,141 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
