3505 Spenard Rd Anchorage, AK 99503-3770

This exceptional mixed-use property, located at 3505 Spenard Road in Anchorage, Alaska, presents a compelling value-add investment opportunity. The 4,180 square foot building sits on an 11,183 square foot lot and is currently 100% occupied, generating a net operating income (NOI) of $72,000, with a pro-forma NOI projected at $86,000. The asking price is $1,050,000, representing a current cap rate of 6.86% and a pro-forma cap rate of 8.19%. Built in 1985, this concrete structure features commercial kitchens and benefits from a highly visible hard corner location with a stoplight, ensuring significant foot and vehicle traffic. The property includes 18 parking spaces, with overflow parking available on 35th Avenue. Zoned B3, this versatile property allows for a variety of business uses. Its strategic location in the vibrant Spenard neighborhood, near the airport and major residential developments, makes it an ideal investment for those seeking to capitalize on a growing market. The property's current occupancy and strong potential for increased NOI through value-add strategies make this a truly unique and attractive investment opportunity in a sought-after area of Anchorage. The price per square foot is $251.20.