609 Cobb St Palmer, AK 99645
- Commercial real estate
- 6,096 SF
- 0.22 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 609 Cobb St
- Year built
- 1976
- Lot size
- 0.22 lot acres
- Property size
- 6,096 SF
- Property type
- Commercial real estate
Description
This fully occupied, six-unit apartment building at 609 S. Cobb St, Palmer, AK 99645, presents a compelling value-add investment opportunity. The 6,096 square foot building, constructed in 1976, sits on a 0.22-acre lot and boasts a Class B designation. Currently operating at 100% occupancy, the property offers six parking spaces and features two stories. The asking price is $725,000, translating to $118.93 per square foot and $120,833.33 per unit. Located in the heart of Palmer's commercial district, near the Palmer Post Office, this property offers significant upside potential. Current rents are below market rates, with month-to-month tenants, providing immediate opportunities for rental increases. The property's central location also makes it suitable for repositioning into an office building for an owner-user. Seller financing is available with a substantial down payment. This is an exceptional chance to acquire a well-located multifamily property with strong potential for increased profitability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palmer
- County
- Matanuska-Susitna
- State
- Alaska
- Longitude
- -149.11823088588
- Latitude
- 61.601182426475
