Historic Log Office
For Sale
$425,000
213 W Fireweed Lane, Anchorage, AK 99503
Commercial Sale, Anchorage, AK
Property Size1,486 SF
Lot Size0.39 Acres
Price / SF$286
Days on Market233
Property Features for 213 W Fireweed Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3 - General Business
Directions
Travel west on Fireweed from the intersection with A Street, located on north side of street or south on C street, turn left on to 24th Place.
Subdivision
1A - Anchorage Municipality
Standard status
Active
APN
002-191-360001
Size
1,486 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Lot 6 W97', Coffey Subdivision
Legal Description
Lot 6 W97', Coffey Subdivision
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Baseboard
Water source
Public, Well
Building Details
Building materials
Log
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed By:
J. Michael James · License #15758
(907) 646-3652
Added: Jan 15
Changed: Sep 4
Last Checked: Sep 5 at 1:06AM
MLS# 26-446
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,486-square-foot office property includes two historical log cabins and a garage on a 0.39-acre site. The buildings are constructed with log materials and include natural-gas heating with baseboard and forced-air systems. One cabin is served by city water, while the other uses a well; both receive public sewer service.
Located on W Fireweed Lane in midtown Anchorage, the property carries B3 - General Business zoning. The configuration has supported office occupancy, including a long-term engineering firm tenant, and is available for continued office use. Asphalt roofing is installed across the improvements.
Located on W Fireweed Lane in midtown Anchorage, the property carries B3 - General Business zoning. The configuration has supported office occupancy, including a long-term engineering firm tenant, and is available for continued office use. Asphalt roofing is installed across the improvements.
Key Highlights
- Two historical log cabins and a garage
- 1486 square feet of property improvements on 0.39 acres
- B3 - General Business zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,256
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$365,120
$365.1K
Cap Rate 7%
$260,800
$260.8K
Cap Rate 9%
$202,844
$202.8K
Market Conditions
NOI Build-Up for 1,486 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.2K $21.00/SF
− Vacancy
−$6.9K −$4.62/SF
EGI
$24.3K $16.38/SF
− OpEx
−$6.1K −$4.10/SF
NOI
$18.3K $12.29/SF
Area
Anchorage, AK
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$365,120
Cap Rate 7%
$260,800
Cap Rate 9%
$202,844
Alternative Uses
Best Use
Office B
$260.8K
$228.2K – $304.3K
NOI $18,256 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$403.5K
$353.1K – $470.8K
NOI $28,246 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 99503, AK
13,550
Population
7,411
Households
1.8
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
20.7 sq mi
ZIP Area
655
Density / Sq Mi
$76,888
Median Household Income
$46,734
Median Earnings
$1,185
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Log office improvements include a garage, natural-gas heating, public sewer, and water service from public and well sources.
Where is this office units located?
The property is located at 213 W Fireweed Lane Anchorage, AK.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two historical log cabins and a garage; 1486 square feet of property improvements on 0.39 acres; B3 - General Business zoning
