Three-Property Mixed-Use
123 E Fireweed Lane, Anchorage, AK 99503
For Sale
$2,050,000
Commercial Sale, Anchorage, AK
Property Size12,200 SF
Lot Size0.70 Acres
Price / SF$168.03
Days on Market428
Property Features for 123 E Fireweed Lane
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Building materials
Buildings
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 646-3600
Listed By:
J. Michael James · License AK #15758
(907) 646-3652
Added: Sep 9, 2025
Changed: Oct 28
Last Checked: Nov 10 at 9:06AM
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.
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Investment Insights
Based on property information with market context.
This three-property assemblage brings together office, restaurant, and warehouse uses on adjoining sites. The 12,200-square-foot office building at 123 E Fireweed Lane has two stories. At 149 Fireweed, a 4,000-square-foot restaurant includes a walkout basement used for storage. The property at 2404 Barrow Street contains 5,201 square feet of office and warehouse space.
The properties are zoned B3 - General Business and occupy a combined 0.7 acres. Public water and sewer serve the sites. The office building is constructed of block and has baseboard heating.
The properties are zoned B3 - General Business and occupy a combined 0.7 acres. Public water and sewer serve the sites. The office building is constructed of block and has baseboard heating.
Key Highlights
- Three adjacent properties with office, restaurant, and warehouse uses
- 12,200‑square‑foot, two‑story office building at 123 E Fireweed Lane
- 4,000‑square‑foot restaurant with walkout basement storage at 149 Fireweed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,988
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The assemblage combines office, restaurant, and warehouse space across three neighboring properties.
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 properties with office, restaurant, and warehouse uses; 12,200‑square‑foot, two‑story office building at 123 E Fireweed Lane; 4,000‑square‑foot restaurant with walkout basement storage at 149 Fireweed
