3505 Spenard Rd Anchorage, AK 99503-3770

Property Details for 3505 Spenard Rd

Year built

1985

Lot size

0.25 lot acres

Property size

4,180 SF

Zone code

B3 GENERAL BUSINESS

Property type

Retail space

Property subtype

Storefront properties

APN

010-104-49-000

APU

1010449000

Description

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.

Location Insight

City

Anchorage

County

Anchorage

State

Alaska

Longitude

-149.908

Latitude

61.1883

CBSA code

11260

CBSA name

ANCHORAGE, AK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments