1060 W Airway Circle, Wasilla, Alaska 99654

Property Description

Extremely unique opportunity combining Parks Highway frontage, commercial potential, existing residential income, shop space, and future development possibilities all on one property. Located within an established neighborhood, this parcel has been specifically amended through the CCRs to allow commercial use along the lower Parks Highway frontage, as well as subdivision potential contingent upon required utility hookups. City water and sewer are currently located at the adjacent property, creating an exciting opportunity for a buyer looking to further develop the site. The lower portion of the property offers excellent Parks Highway exposure and visibility with a variety of potential commercial applications. Utilize the existing improvements while exploring development of the highway frontage, subdivision, or a combination of residential and commercial uses. The upper portion of the property is already improved and provides immediate income-producing potential. Improvements include a top/bottom duplex, a separate 1-bedroom/1-bath apartment above a two-car garage, and a detached high-bay garage/shop. The upper duplex unit offers 2 bedrooms and 1.5 bathrooms and received new flooring, appliances, and paint touch-ups in 2026. The lower unit offers 1 bedroom, 1 bathroom, an additional office, walkout patio, and gas fireplace. This unit underwent an extensive remodel in 2026, including new plumbing, electrical, sheetrock, flooring, appliances, and paint. The separate 1-bedroom/1-bath apartment is located above a two-car garage and is currently rented month-to-month. The detached high-bay shop provides additional space for storage, equipment, business use, or potential rental income, subject to applicable requirements. This is a well-cared-for property that offers something difficult to replicate: existing residential improvements and income potential today, substantial garage/shop space, Parks Highway exposure, CCR allowances for commercial use of the lower portion, and the potential for future subdivision and development. An exceptional opportunity for an investor, developer, business owner, or buyer looking for a property with multiple potential revenue streams and long-term upside.