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3027 Airport Way - Value Village, Fairbanks, AK

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3027 Airport Way - Value Village

Fairbanks, AK 99709-4753

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1992
Building Size:20,750 SF Land Area:1.83 AC (79,588 SF)
For Sale Price:$2,738,000 Price/SF:$131.95
Cap Rate:5.70 %

Sale Notes:
"Value Village is a 20,750 square foot single tenant investment property located in Fairbanks, Alaska.

The property is located just off Airport Way which is a major east-west retail thoroughfare that leads from Fairbanks International Airport (PAFA) to Ladd Army Airfield (PAFB).

The subject property benefits from its proximity to other retailers including Safeway, Sears, Starbucks, and O'Reilly Auto Parts. Traffic counts on Airport Way are in excess of 23,000 vehicles per day.

This is an excellent opportunity for an investor seeking a hands-off investment leased to a national tenant. Value Village has occupied the property since 1998. The current lease term ends in July 2023. The tenant has 2 remaining 5-year options at fair market value. During the economic recession the lease was re-negotiated down from $13.50/SF to the current $7.52/SF. At lease renewal, the new owner will have the opportunity to substantially raise the rent to fair market rents and increase the return.

Kidder Mathews
Erik D Swanson
(206) 296-9628

Mike King
(206) 296-9600

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