Anchorage Bar/Restaurant with Liquor
For Sale
$1,900,000
626 D Street, Anchorage, AK 99501
Downtown Anchorage bar/restaurant with liquor license for sale.
Property Size7,188 SF
Lot Size0.32 Acres
Price / SF$264.33
Days on Market699
Property Features for 626 D Street
General Information
Standard status
Active
Size
7,188 SF
Lot size
0.32 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$26,990
Amenities
3
Mountain
Listing Agency:
(907) 230-1523
Listed By:
Spire Commercial
(907) 231-0380
Source:
Xome
Added: Oct 1, 2024
Changed: Aug 12
Last Checked: Aug 30 at 1:39PM
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 Spire Commercial
Investment Insights
Based on property information with market context.
This property features a 7188 square foot building situated on a 14,010 square foot lot. Zoned B2B: Central Business Intermediate, the property was formerly Bernie's Bungalow, a bar and restaurant. The building includes a commercial kitchen, three bars, multiple bathrooms, and storage areas. Additional features include office space, patios, an outdoor performance stage, an outdoor bar, and an outdoor seating area. The property is located in downtown Anchorage.
Key Highlights
- Downtown Anchorage bar/restaurant with liquor license included
- Large 7,188sf building on a 14,010sf lot zoned B2B
- Features a commercial kitchen and three bars
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
$136,630
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
7.19%
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%
$2,732,600
$2.7M
Cap Rate 7%
$1,951,857
$2.0M
Cap Rate 9%
$1,518,111
$1.5M
Market Conditions
NOI Build-Up for 7,188 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
$189.8K $26.40/SF
− Vacancy
−$7.6K −$1.06/SF
EGI
$182.2K $25.34/SF
− OpEx
−$45.5K −$6.34/SF
NOI
$136.6K $19.01/SF
Area
Anchorage, AK
Vacancy
4.00%
Lease Rate
$26.40 /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%
$2,732,600
Cap Rate 7%
$1,951,857
Cap Rate 9%
$1,518,111
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,630 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Retail 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?
Bar & Pub - Downtown Anchorage bar/restaurant with liquor license for sale.
Where is this bar & pub located?
The property is located at 626 D Street Anchorage, AK.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Downtown Anchorage bar/restaurant with liquor license included; Large 7,188sf building on a 14,010sf lot zoned B2B; Features a commercial kitchen and three bars
