Class B Downtown Office
For Sale
$6,700,000
1016 W 6th Ave, Anchorage, AK 99501
Fully leased 4-story office building with tenant reserved parking and readily available on-street metered parking.
Property Size40,724 SF
Price / SF$164.52
Days on Market98
Property Features for 1016 W 6th Ave
General Information
Standard status
Active
Size
40,724 SF
Class
B
Total Parking Spaces
101
Occupancy
100%
Site & Location
Neighborhood
Downtown
Building Details
Stories
4
Tenancy
Multi
Listing Agency:
RE/MAX Dynamic Properties
Listed By:
Ralph Matukonis · License #6720
(907) 261-7535
Source:
Sellingalaskaco
Added: Jul 20
Changed: Oct 6
Last Checked: Oct 24 at 8:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Dynamic Properties
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Investment Insights
Based on property information with market context.
This west Downtown Anchorage 4-story Class B office building, known as the Alaska Legal Center, contains 38,548 RSF and is fully leased. The tenant mix includes the Anchorage Chamber of Commerce, Alaska Legal Services, Axiom Data Science, and several law firms.
The building provides 101 on-site reserved tenant parking spaces. On-street metered parking is readily available for guests.
As a stabilized, income-producing office asset, the property’s existing lease occupancy supports continuity for an investor or buyer seeking a fully leased office building in Anchorage’s downtown area.
The building provides 101 on-site reserved tenant parking spaces. On-street metered parking is readily available for guests.
As a stabilized, income-producing office asset, the property’s existing lease occupancy supports continuity for an investor or buyer seeking a fully leased office building in Anchorage’s downtown area.
Key Highlights
- West Downtown Anchorage 4‑story class B office building known as the Alaska Legal Center
- 38,548 RSF office space is fully leased
- 101 on‑site reserved tenant parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$500,294
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,005,880
$10.0M
Cap Rate 7%
$7,147,057
$7.1M
Cap Rate 9%
$5,558,822
$5.6M
Market Conditions
NOI Build-Up for 40,724 SF
Gross rent
$855.2K $21.00/SF
− Vacancy
−$188.1K −$4.62/SF
EGI
$667.1K $16.38/SF
− OpEx
−$166.8K −$4.10/SF
NOI
$500.3K $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 Rate 5%
$10,005,880
Cap Rate 7%
$7,147,057
Cap Rate 9%
$5,558,822
Alternative Uses
Best Use
Office B
$7.15M
$6.25M – $8.34M
NOI $500,294 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.06M
$9.68M – $12.90M
NOI $774,082 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Fully leased 4-story office building with tenant reserved parking and readily available on-street metered parking.
Where is this office building located?
The property is located at 1016 W 6th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: West Downtown Anchorage 4‑story class B office building known as the Alaska Legal Center; 38,548 RSF office space is fully leased; 101 on‑site reserved tenant parking spaces
