$2,080,000
Agent Info

Listed by: Pamela Throop

Phone: 907-456-6008

Fax: 907-456-6474

Info: Pamela Throop is the Owner/Broker of Alaska Commercial Properties since 2000. She has 40+ years as a Realtor.

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Address: 3023 Airport Way
City: Fairbanks
State: AK
Zip: 99709
Price: $2,080,000
Beds: 0
Baths: 2
Floors: 1
Year Built: 1992
Square Feet: 20,934
Lot Size: 79588
Annual Property Tax: 38,186
mls: 136946
Status: Active
Full 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.

Directions:
The property is located just off Airport Way. Turn south on Market Street and West on Airport Frontage road and enter South to parking lot. Building is behind Batteries Plus Bulbs and next to Sears.

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