819 1St Ave Fairbanks, AK 99701
- Medical offices
- 7,200 SF
- 0.27 lot acres
Current Use by Public Records
- KCBF / Radio Station / Telecommunications Service
- New Northwest Broadcasters / Radio Station / Telecommunications Service
- Mojo Music Studios / Recording Studio
- Fairbanks Grizzlies / Sports School / Gym & Fitness Center
Property Details for 819 1St Ave
- Year built
- 1976
- Lot size
- 0.27 lot acres
- Property size
- 7,200 SF
- Property type
- Medical offices
Description
This exceptional investment opportunity presents a 7,200 square foot Class B medical office building located at 819 First Ave, Fairbanks, AK 99701. The property, built in 1976 and renovated in 2020, sits on a 0.27-acre lot and is currently 100% occupied under a single, Net Lease (NNN) agreement with Fairbanks Urology. The lease commenced May 31, 2020, and expires June 29, 2030, offering a remaining term of 5.7 years. The tenant, a leading urology/oncology provider in Northern Alaska, is part of a larger national healthcare network, ensuring strong financial stability. The lease includes annual rent increases of 3%, contributing to a current NOI of $229,608 and a 9% cap rate. The property benefits from a strong tenant with no urology competition in the area, serving a large and affluent demographic. The asking price is $2,550,000, representing a compelling investment with minimal landlord responsibilities and significant long-term growth potential. The lease includes a negotiable option, providing flexibility for future negotiations. This fee-simple ownership offers a rare opportunity in the Fairbanks market.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Fairbanks
- County
- Fairbanks North Star Borough
- State
- Alaska
- Longitude
- -147.72706086
- Latitude
- 64.84451829
