1721 E Parks Hwy Wasilla, AK 99654
Property profile & analytics
1721 E Parks Hwy, Wasilla, AK 99654
- Retail properties & Spaces
- 14,746 SF
- 1.18 lot acres
Property ID
US02-0116248
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Labcorp at Walgreens / Medical Laboratory / Blood Testing Service
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
- Western Union / Bank / Credit Union
Property Details for 1721 E Parks Hwy
- Year built
- 2008
- Lot size
- 1.18 lot acres
- Zone code
- 35
- Property type
- Retail properties & Spaces
- APN
- 6799000T002
- APU
- 6799000T002
Description
This exceptional investment opportunity presents a 14,723-square-foot Walgreens located at 1721 E Parks Hwy, Wasilla, AK 99654. The property boasts a strong 5.70% cap rate and a substantial net operating income (NOI) of $580,000. Secured by a corporate guarantee from NASDAQ WBA, this absolute triple-net (NNN) lease ensures zero landlord responsibilities. The lease commenced on May 31, 2009, with a remaining term of 9.5 years and ten, five-year renewal options, extending to May 30, 2034. This top-performing Walgreens, the #1 store in Alaska (out of 11) according to Placer AI, benefits from a drive-thru, significantly boosting sales. Strategically positioned as an outparcel to a Target and Michaels-anchored shopping center, the property enjoys high visibility at a signalized intersection. The surrounding area features a robust mix of national and local retailers, including Fred Meyer, The Home Depot, Petco, Starbucks, and Raising Cane's. The 1.84-acre lot is the only Walgreens location within a 27-mile radius, further solidifying its market dominance. The asking price is $10,175,439, translating to $691.13 per square foot. This property offers a rare opportunity to acquire a high-performing, low-maintenance asset in a tax-free state with exceptional long-term growth potential.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,965,000
- 6.5%
- $2,740,000
- 7%
- $2,545,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $3,326,000
Market price range: $493k - $6.41M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wasilla
- County
- Matanuska-susitna
- State
- Alaska
- Longitude
- -149.407
- Latitude
- 61.5774
- CBSA code
- 11260
- CBSA name
- ANCHORAGE, AK METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$35,689
$875,700
$2,590,600
$3,466,300
-
$875,700
$2,590,600
$3,466,300
