The former Walmart Inc. store that has been vacant since 2016 is for sale at a significantly reduced price.<\/p>\n
The asking price for the building in Juneau is $6 million, about $2.3 million below the value placed on the property by the city assessor’s office, KTOO-FM reported Monday.<\/p>\n
The assessor’s office values the building in the Lemon Creek area at $8,262,800.<\/p>\n
City and state records identify the owner through a limited liability corporation as Alex Kim of Anchorage. Angie Nolan, the property’s broker with Alaska Unlimited Realty, said the owner is private and will not comment.<\/p>\n
Walmart remodeled the building before its opening as part of the retail chain in 2008.<\/p>\n
“The property is still in excellent condition,” Nolan said. “I think one of the myths is with the property being vacant, I’ve heard rumors of it being moldy and having a lot of disrepair, and that’s not the case at all.”<\/p>\n
The asking price was set so the property would be “obtainable,” Nolan said.<\/p>\n
There have been inquiries from businesses in the cannabis industry, but marijuana is forbidden under a noxious-use restriction, Nolan said.<\/p>\n
The condition was part of Walmart’s sale of the property to her client and remains in place until June 2025, Nolan said.<\/p>\n
Juneau City Manager Rorie Watt last year pitched a $27 million concept for a new city hall on top of the Downtown Transit Center parking garage.<\/p>\n
The old Walmart would be nearly three times bigger and much cheaper, at about 8% of the cost per square foot.<\/p>\n
The city does not have a municipal use for a property the size of the former Walmart, Watt said.<\/p>\n
“It seems like this property should stay in private ownership,” Watt said in an email Monday.<\/p>\n
Juneau Mayor Beth Weldon agreed with Watt.<\/p>\n
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