24-44 College Rd - Freestanding FOR SALE


Fairbanks, AK 99701
$28,000,000 USD
206-292-6152
24-44 College Rd, Fairbanks, AK for Sale
$28,000,000 USD
Freestanding - FOR SALE
1/12
null | 8.29% Cap Rate

24-44 College Rd
Fairbanks, AK 99701


OVERVIEW

Bentley Mall (the “Property”) is the dominant shopping center in Fairbanks with the highest traffic counts in the city. Safeway is the most productive in the market, and with the draw from the adjacent Costco shadow-anchor (NAP), more than 3.7 shoppers visit the property every year. The property is anchored by long-term tenants signed to below-market leases. The retail pad buildings operate at full occupancy with a combination of national tenants and local daily-needs operators. The interior mall component (35,257 SF) is located inline between the Safeway and Michaels boxes. As the only enclosed shopping area in Fairbanks, this area can continue as an interior mall, or alternative options can be considered, including repurposing, closing, or demolition. The front-facing portion of the interior mall could be converted to inline shoppe suites with direct exposure to the parking area.

FOR SALE DETAILS

PRICE

$28,000,000 USD

PRICE/SF

$180 USD /SF

CAP RATE

8.29%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bentley Mall

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

724

LAND DETAILS

CROSS STREETS

College Rd. near Old Steele Hwy.

LAND ACRES

16.04 AC

LAND SF

698,702 SF

ZONING

Commercial

APN/PARCEL ID

93181

ASK ABOUT THIS PROPERTY

206-292-6152

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206-292-6152

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