3023 Airport Way

    Fairbanks, AK 99701
    • $2,080,000
    • STATUS: Active
    • MLS #: 136946
    UPDATED: 39 min ago
    $2,080,000
    • 0
      BEDS
    • 1.83
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,934
      SQFT
    • $99
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1992

    School Ratings & Info

    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.

    Monthly Payment Calculator

    IDX information © 2018 Greater Fairbanks Board of Realtors Multiple Listing Service.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS or Madden Real Estate with Keller Williams Realty Alaska Group.
    www.fairbanksakhomesearch.com/homes/82678514

    3023 Airport Way Fairbanks, AK 99701

    • Price: $2,080,000
    • Status: Active
    • Updated: 39 min ago
    • MLS #: 136946
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.83
    Acres
    20,934
    SQFT
    $99
    $/SQFT
    1992
    Built
    Neighborhood:
    Value Village
    Area:
    West Fairbanks
    Property 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.
    Exterior Features

    Construction Block Lot Size 1.0-1.9 Ac Parking Spaces 94

    Interior Features

    Approx Sq Ft Unit Over 20000 Restrooms 4

    Property Features

    Business Type Package Store CCRs YN No Commercial Type Retail Documents On File Rent RollsLeases Fuel Source Natural Gas Land Status Fee Simple Miscellaneous Sprinkler SystemInside Storage Possession Recording Reo YN No Short Sale YN No Taxes 38186.02 Terms Cash/Refinance Type Of Property BuildingRetail Utilities Public WaterPublic SewerElectricPhoneInternet Zoning General Commercial District Zoning Overlay N/A

    Listing provided courtesy of Pamela Throop of Alaska Commercial Properties.
    IDX information © 2018 Greater Fairbanks Board of Realtors Multiple Listing Service.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS or Madden Real Estate with Keller Williams Realty Alaska Group.
     
    Madden Real Estate with Keller Williams Realty Alaska Group
    728 Gaffney Road, Suite 100
    Fairbanks AK, 99701