Three-Story Office
3940 Arctic Boulevard Anchorage, AK 99503
3940 Arctic Boulevard, Anchorage, AK, 99503
$4,300,000
For Sale
$4,300,000
COMMERCIAL - Anchorage, AK
Property Size30,240 SF
Lot Size0.95 Acres
Price / SF$142.20
Days on Market339
Property Features for 3940 Arctic Boulevard
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B3 - General Business
- Parking
- 60
- Security features
- Security System
- Standard status
- Active
- APN
- 01011627000
- Size
- 30,240 SF
- Lot size
- 0.95 Acres
Taxes and HOA fees
- Tax Description
- Spenard Acres BLK E LT 6
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1984
- Floors in Building
- 3
- Flooring type
- Carpet
- Building materials
- Wood Frame
Listing agency
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed by
Lottie Michael · License #2519
(907) 646-3600
Added: Aug 18, 2025 Updated: Jul 10 at 11:32PM Checked: Jul 22 at 7:06AM
MLS# 25-10810
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 three-story midtown office building includes a full basement storage area. The property is ADA compliant with an elevator and features new UV solar film applied to the windows. Full-service operations are noted to include janitorial.
The property is located at 3940 Arctic Boulevard in Anchorage, Alaska, within B3 – General Business zoning.
The building totals approximately 30,240 square feet, offering a multi-level office layout supported by on-site storage in the basement.
The property is located at 3940 Arctic Boulevard in Anchorage, Alaska, within B3 – General Business zoning.
The building totals approximately 30,240 square feet, offering a multi-level office layout supported by on-site storage in the basement.
Key Highlights
- ADA compliant with elevator for accessibility.
- Full service including janitorial.
- New UV Solar film applied to windows.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $635.0k | $21.00 |
| − Vacancy | −$139.7k | −$4.62 |
| EGI | $495.3k | $16.38 |
| − OpEx | −$123.8k | −$4.10 |
| NOI | $371.5k | $12.29 |
30,240 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.31M
$4.64M – $6.19M
NOI $371,498 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.21M
$7.19M – $9.58M
NOI $574,802 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
CRW Engineering Group, ...
Structural Engineer
Campbell Airstrip Road ...
Park
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FAQs
What type of property is this?
Office building - Three-story office building with a full basement storage level and an ADA-compliant elevator.
Where is this office building located?
The property is located at 3940 Arctic Boulevard Anchorage, AK.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: ADA compliant with **elevator for accessibility**.; Full service including janitorial.; New UV Solar film applied to windows.
