7031 Arctic Boulevard – Great Investment Opportunity with a 10.8% Caprate!

CannaMLS ID: 13443
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Price: $2,950,000


Listing Details


Listing Category
Cultivation
Manufacturing

License Status
Municipal / local license granted
State / annual license granted


Price: $2,950,000

Listing Status: For Sale

16,954 Sq. Ft office warehouse, situated on .61 acres of I1 (light industrial) zoned land, for sale in midtown Anchorage. Sale price of $2,950,000 ($174/Sq. Ft.). Perfect investment opportunity with a 10.8% caprate. The property is being leased by a well-established, long-term tenant that is currently operating multiple locations throughout Anchorage. The existing lease goes until 2030.


Listing Details

Listing Status
For Sale

Location
Anchorage, Alaska 99518

Date Listed For Sale:
7/8/2024

Date Last Updated:
7/8/2024

Generating Revenue:
YES

Property Details

Buiding Size (sq ft)
16954 sq ft

Lot Size (acres)
0 acres

Pricing Details

Listing Price
$2,950,000

Property Purchase Price
$2,950,000

Lease Terms:

Building is being leased by a long-term tenant with over $400,000 in tenant improvements to the building. Tenant is the largest, by revenue, in the state in their respective industry, operating multiple locations throughout Anchorage. Tenant improvements were paid for by the tenant and per lease, are owned by the landlord with no reimbursement provisions for building upgrades. The lease commenced in 2018 and currently goes through 2030 with 3.5% annual increases. Landlord also receives percentage rent equal to 2.5% of the tenant’s annual gross sales, paid monthly. Tenants state issued operating license is tied to the building and non-transferable to another location further solidifying landlords’ prospects of renewal in 2030.


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