Buyers-Brokerage.com | Chris Calhoon Real Estate | 907-456-3401 & 907-460-7905

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Courtesy: ALASKA COMMERCIAL PROPERTIES | Pamela Throop
  •   Price:

    • $2,080,000

  • Listing #:
    • 136946
  • Class:
    • Commercial
  • Status:
    • Active
  • Type:
    • Retail
  • Bathrooms:
    • 4.00
  • # of Acres:
    • 1.83
  • Lot Size:
    • 79,588
  • Garage Sz:
    • 94
  • Sale/Rent:
    • For Sale
  • Year Built:
    • 1992
  • Subdivision:
    • Value Village
  • Address:
    • 3023 AIRPORT WAY
  • City:
  • Area:
    • West Fairbanks
  • State:
    • AK
  • Zip:
    • 99701

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Description

This is an excellent investment opportunity! Leased since 1998 to Value Village, a global thrift retailer, with the only responsibilities to the owner: the roof & structure maintenance. The current lease term ends in July 2023 with 2 remaining 5-year options at fair market value. During the economic recession the lease was re-negotiated down from $1.125/SF/Month ($13.50/SF/Year) to the current $0.626/SF ($7.52/SF/Year). At lease renewal, the new owner will have the opportunity to substantially raise the rent to fair market rents and increase the return.
  • Building Details
    • Building Sq. Ft.:
      • - 20934
    • Details:
      • - Block
    • Type Of Property:
      • - Building
      • - Retail
    • Details:
      • - General Commercial District
    • Zoning Overlay:
      • - N / A
    • Approx. Sq. Ft. Unit:
      • - Over 20
      • - 000
  • Business Details
    • Type Of Business:
      • - Package Store
  • Income
    • Annual Gross Income:
      • - 156040
  • Expenses
    • Hoa Dues/mo.:
      • - N / A
    • Taxes:
      • - 38186.02
  • Utilities
    • Details:
      • - Public Water
      • - Public Sewer
      • - Electric
      • - Phone
      • - Internet
    • Fuel Source:
      • - Natural Gas
  • Misc
    • Information:
      • - Sprinkler System
      • - Inside Storage
    • Documents:
      • - Rent Rolls
      • - Leases
    • Terms:
      • - Cash / Refinance