Three-Property Mixed-Use
For Sale
$2,050,000
123 E Fireweed Lane, Anchorage, AK 99503
COMMERCIAL - Anchorage, AK
Property Size12,200 SF
Lot Size0.70 Acres
Price / SF$168.03
Days on Market337
Property Features for 123 E Fireweed Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3 - General Business
Directions
northeast corner of A Street & Fireweed Lane
Subdivision
1A - Anchorage Municipality
Standard status
Active
APN
0022056100001
Size
12,200 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Description
Lot 3A, Remnant & 12 Remnant, Lot 1A and Lot 4, Block 6 Pearl V Smith S/D,
Legal Description
Lot 3A, Remnant & 12 Remnant, Lot 1A and Lot 4, Block 6 Pearl V Smith S/D,
Utilities
Sewer type
Public Sewer
Building Details
Building materials
Block
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed By:
J. Michael James · License #15758
(907) 646-3652
Added: Sep 9, 2025
Changed: Aug 4
Last Checked: Aug 11 at 5:06PM
MLS# 25-12584
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 mixed-use assemblage consists of three adjacent commercial properties with office, restaurant, storage, and warehouse components. The primary building contains a 12,200-square-foot, two-story office structure. A separate property provides a 4,000-square-foot restaurant with walkout basement storage, while the third includes 5,201 square feet of office and warehouse space.
The properties are located in Anchorage and are zoned B3 - General Business. The assemblage encompasses 0.7 acres and has public sewer service, providing a range of existing commercial building types within one offering.
The properties are located in Anchorage and are zoned B3 - General Business. The assemblage encompasses 0.7 acres and has public sewer service, providing a range of existing commercial building types within one offering.
Key Highlights
- Three adjacent commercial properties offered as one mixed‑use assemblage
- 12,200 SF two‑story office building
- 4,000 SF restaurant with walkout basement storage
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
$152,988
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
7.46%
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%
$3,059,760
$3.1M
Cap Rate 7%
$2,185,543
$2.2M
Cap Rate 9%
$1,699,867
$1.7M
Market Conditions
NOI Build-Up for 12,200 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
$278.2K $22.80/SF
− Vacancy
−$33.4K −$2.74/SF
EGI
$244.8K $20.06/SF
− OpEx
−$91.8K −$7.52/SF
NOI
$153.0K $12.54/SF
Area
Anchorage, AK
Vacancy
12.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
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%
$3,059,760
Cap Rate 7%
$2,185,543
Cap Rate 9%
$1,699,867
Alternative Uses
Best Use
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,898 @ 7.0% cap · market cap 11.31%
Second Best
Mixed Use
$2.19M
$1.91M – $2.55M
NOI $152,988 @ 7.0% cap · market cap 7.46%
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 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?
Mixed-use property - The assemblage carries B3 - General Business zoning and access to public sewer.
Where is this mixed-use property located?
The property is located at 123 E Fireweed Lane Anchorage, AK.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Three adjacent commercial properties offered as one mixed‑use assemblage; 12,200 SF two‑story office building; 4,000 SF restaurant with walkout basement storage
