Class B Downtown Office
For Sale
$6,700,000
1016 W 6th Avenue, Anchorage, AK 99501
Fully leased 4-story office building with tenant reserved parking and readily available on-street metered parking.
Property Size38,548 SF
Price / SF$173.81
Days on Market36
Property Features for 1016 W 6th Avenue
General Information
Standard status
Active
Size
38,548 SF
Class
B
Total Parking Spaces
101
Zoning
B2C - Central Business Periphery
Occupancy
100%
Building Details
Stories
4
Tenancy
Multi
Listing Agency:
(907) 283-3883
Listed By:
Mossy Oak Properties of Alaska
(907) 283-3883
Source:
Alaskalandguide.idxbroker
Added: Jul 20
Changed: Aug 9
Last Checked: Aug 24 at 3:11AM
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 Mossy Oak Properties of Alaska
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 = 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
$473,562
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
7.07%
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%
$9,471,240
$9.5M
Cap Rate 7%
$6,765,171
$6.8M
Cap Rate 9%
$5,261,800
$5.3M
Market Conditions
NOI Build-Up for 38,548 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
$809.5K $21.00/SF
− Vacancy
−$178.1K −$4.62/SF
EGI
$631.4K $16.38/SF
− OpEx
−$157.9K −$4.10/SF
NOI
$473.6K $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%
$9,471,240
Cap Rate 7%
$6,765,171
Cap Rate 9%
$5,261,800
Alternative Uses
Best Use
Office B
$6.77M
$5.92M – $7.89M
NOI $473,562 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.47M
$9.16M – $12.21M
NOI $732,720 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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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 Avenue 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
