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

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.

For more information on this listing, please contact...

Branding Photo
  • 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