Three-Building Mixed-Use
For Sale
$2,050,000
123 E Fireweed Lane, Anchorage, AK 99503
Commercial Sale, Anchorage, AK
Property Size12,200 SF
Lot Size0.70 Acres
Price / SF$168.03
Days on Market383
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
Heating system
Baseboard
Water source
Public
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: Sep 24
Last Checked: Sep 26 at 11:06AM
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.
Investment Insights
Based on property information with market context.
Three adjacent properties form a mixed-use assemblage with office, restaurant, and warehouse components. The office buildings measure 12,200 square feet and 5,201 square feet; the larger office building has two stories. A 4,000-square-foot restaurant property includes a walkout basement used for storage.
The properties are zoned B3 - General Business. Public water and sewer serve the site.
The properties are zoned B3 - General Business. Public water and sewer serve the site.
Key Highlights
- Three adjacent properties zoned B3 - General Business
- 12,200‑square‑foot, two‑story office building at 123 Fireweed
- 4,000‑square‑foot restaurant with walkout basement storage at 149 Fireweed
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The assemblage includes office space, a restaurant, and warehouse area across adjacent parcels.
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 zoned B3 - General Business; 12,200‑square‑foot, two‑story office building at 123 Fireweed; 4,000‑square‑foot restaurant with walkout basement storage at 149 Fireweed
