637 Fairbanks Street, Anchorage, AK

$650,000

Price

3,930 sqft

Building Size

1939

Year Built

Gallery
Street
Map
Overview
Building Size
3,930 sqft
Year Built
1939
Zoning
General Business
Floors
3
Parking Spots
3
Description

This unconventional property is a perfect office for a company looking to occupy the whole building, or looking to have rental income with room to grow. This three story building, situated on two lots in the Fairview opportunity zone, has the potential to be configured a number of ways. The main floor has a welcoming, light-filled entry way and kitchenette.It is an open space with its own entrance to the front and to the upstairs unit. The upstairs has 15' ceilings and could be used as an owner-occupying apartment, a rental, or more office or work space. The basement apartment has its own entrance from the back, four alley parking spaces, three bedrooms and is currently rented for $1500 a month, but has been rented for $1800 in the past. The garage out back could be rented out or used as additional storage.
The original remodel in 2010 was intended to house an architecture firm in the middle, a luxury apartment upstairs and a solid, income-producing rental apartment in the basement.
The adjacent lot, which is included in this sale, is zoned commercial in an Opportunity Zone. Opportunity Zones provide ample tax incentives for development done on the land or buildings. These two lots are being sold together, but are two separate parcels, therefore, a buyer interested in developing the commercial lot would benefit from significant tax breaks (these can be researched on the State of Alaska website).
This property has visibility, a convenient downtown location, ample street and alley parking, and the ability for a business to generate income with room to grow and expand in the future.

Showing Instructions:
Don't Disturb Tenant,Lockbox-Combo,ShowingTime

Highlights
  • Lot Features: City Lot
  • Building Features: Living Quarters
  • Lease Amount Frequency: Monthly
  • Heating: Baseboard
  • Flooring: Carpet
  • Construction Materials: Wood Frame - 2x6, See Remarks, Sheetrock
  • Parking Features: On Site
  • Buyer Agency Compensation: 2.50
  • Showing Instructions: Don't Disturb Tenant,Lockbox-Combo,ShowingTime
Location
Gallery