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Nugget Mall 8745 Glacier Hwy 142,072 SF 100% Leased Retail Building Juneau, AK 99801 For Sale
Investment Highlights
- Offered at a low basis per square foot in a market where construction costs average 40% higher than the U.S. standard.
- Approximately 57,104 square feet of vacancy offers immediate value-add potential, featuring a former 22,176 square foot JoAnn Fabrics space.
- Seller committing $2 million toward roof improvements, mitigating near-term capital expenditures and enhancing future leasing appeal.
- Anchored by Sportsman’s Warehouse, occupying 19.6% of the gross leasable area with a lease extending through 2036.
- Flexible ownership structure with five parcels allowing for potential sell-offs and cap rate arbitrage strategies.
- Located in Mendenhall Valley, Juneau’s primary retail corridor, with proximity to the Juneau International Airport and Glacier Highway.
Executive Summary
CALL FOR OFFERS: JUNE 9TH
Extremely Low Basis Play with Optionality: Offered at an extremely low price per square foot for building and land in a market where construction costs run roughly 40% above the national average, establishing a meaningful barrier to new competing supply. Sportsman’s Warehouse anchors 19.6% of GLA through 2036, providing a decade of contractual income stability on the property’s largest tenant at 27,852 sq. ft.
Value-Add Opportunity with Strong Stabilized Return-on-Cost: Value-add upside through lease-up of 57,104 sq. ft. of vacancy, including the 22,176-sq.-ft. former JoAnn box, with market rents underwritten conservatively relative to in-place tenants.
Rare Large Scale Commercial Land Site in the Mendenhall Valley: Nugget Mall sits on 12.05 acres on five separate parcels, offering investors the flexibility to sell off individual components and capitalize on the cap rate spread between whole-property and parcel-level pricing.
Largest Commercial Land Site in the Valley: Juneau’s geography creates an significant barrier to new retail supply, insulating Nugget Mall as the dominant community shopping center in the Mendenhall Valley. Seller is investing $2 million in structural roof improvements, meaningfully reducing near-term capital risk for an incoming buyer.
Extremely Low Basis Play with Optionality: Offered at an extremely low price per square foot for building and land in a market where construction costs run roughly 40% above the national average, establishing a meaningful barrier to new competing supply. Sportsman’s Warehouse anchors 19.6% of GLA through 2036, providing a decade of contractual income stability on the property’s largest tenant at 27,852 sq. ft.
Value-Add Opportunity with Strong Stabilized Return-on-Cost: Value-add upside through lease-up of 57,104 sq. ft. of vacancy, including the 22,176-sq.-ft. former JoAnn box, with market rents underwritten conservatively relative to in-place tenants.
Rare Large Scale Commercial Land Site in the Mendenhall Valley: Nugget Mall sits on 12.05 acres on five separate parcels, offering investors the flexibility to sell off individual components and capitalize on the cap rate spread between whole-property and parcel-level pricing.
Largest Commercial Land Site in the Valley: Juneau’s geography creates an significant barrier to new retail supply, insulating Nugget Mall as the dominant community shopping center in the Mendenhall Valley. Seller is investing $2 million in structural roof improvements, meaningfully reducing near-term capital risk for an incoming buyer.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Freestanding
Building Size
142,072 SF
Building Class
B
Year Built/Renovated
1974/2002
NOI
$796,430
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
12.05 AC
Zoning
GC
Parking
370 Spaces (2.6 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5B1501100011 | Improvements Assessment | $869,000 |
| Land Assessment | $5,437,400 | Total Assessment | $6,306,400 |
Property Taxes
Parcel Number
5B1501100011
Land Assessment
$5,437,400
Improvements Assessment
$869,000
Total Assessment
$6,306,400
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