10735 Kenai Spur Hwy - Office FOR SALE


Kenai, AK 99611
$1,850,000 USD
503-781-8786
10735 Kenai Spur Hwy, Kenai, AK for Sale
$1,850,000 USD
Office - FOR SALE
1/8
null | 8% Cap Rate

10735 Kenai Spur Hwy
Kenai, AK 99611


HIGHLIGHTS

  • 100% leased, two-building retail center with balanced rollover schedule
  • Limited retail supply in the area and a lack of competing options enhance the stability of the center’s service-based tenants
  • High-visibility location on hard corner of Bridge Access Rd. and Kenai Spur Hwy, a daily-needs retail corridor
  • Located adjacent to a high-performing Arby’s drive-thru (operating in the top 15% nationally according to Placer.ai), enhancing the daily draw
  • Positioned along the Kenai Spur Highway, the primary commercial corridor serving the Kenai Peninsula
  • Diverse tenant mix supports frequent visitation and cross-shopping opportunities with mostly service-oriented businesses

OVERVIEW

The Offering provides the opportunity to acquire a fully occupied two-building retail investment positioned on a high-visibility corner along the trade area’s main retail corridor, Kenai Spur Highway. Spanning 1.28 acres across two parcels, the Property includes a 5,244 SF retail building fully occupied by three tenants, and a 5,000 SF retail building fully occupied by four tenants, with rent growth provided by annual scheduled rent increases for over half of the tenants. The property sits on the hard corner of Bridge Access Road and Kenai Spur Highway, the primary retail arterial pulling from a wide radius, and adjacent to an Arby’s drive-thru. The immediate trade area serves as the commercial hub of the central peninsula with additional draw provided by nearby retailers, including Home Depot, Safeway, Walmart and Three Bears Alaska, a regional grocery chain. The property is located half a mile south of the Kenai Municipal Airport, the primary air hub and the busiest airport in the Kenai Peninsula Borough, roughly twice the size of New Jersey. The airport offers daily service to Anchorage and is slated for major FAA-funded upgrades in 2026.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$330 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kenai Spur Shops

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,756 SF

ZONING

Central Mixed Use (CMU)

APN/PARCEL ID

047-051-06,047-051-07,047-051-08

ASK ABOUT THIS PROPERTY

Scott FrankNorthmarqMore Info
503-781-8786

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Scott FrankNorthmarqMore Info
503-781-8786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.