Flex Space with
For Sale
$499,900
12872 Old Seward Hwy # 2, Anchorage, AK 99515
I-1-zoned garage condo with dedicated plumbing fixtures, windows, and adaptable workspace.
Property Size1,244 SF
Price / SF$401.85
Days on Market148
Property Features for 12872 Old Seward Hwy # 2
General Information
Standard status
Active
Size
1,244 SF
Property subtype
Commercial
Zoning
I-1
Site & Location
Neighborhood
Bayshore/Klatt
Additional Details
Mezzanine
280 SF
Amenities
private toilet
sink
shower
Building Details
Year Built
2024
Listing Agency:
Real Broker Alaska
Listed By:
Yvan C Corbin
(907) 301-0875
Source:
Seehomesinalaska
Added: Jun 12
Changed: Nov 1
Last Checked: Nov 4 at 2:17PM
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 Real Broker Alaska
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2024, this 1,244-square-foot flex space is configured as a garage condominium at 12872 Old Seward Hwy # 2 in South Anchorage. The unit includes a private toilet, sink, and shower, along with windows throughout. Its 20-by-50-foot garage layout provides functional work and storage space, while the mezzanine adds another usable area with 8-foot ceilings.
The property is designated I-1 and features 9-inch-thick commercial-grade concrete floors designed to support heavy loads. The combination of garage access, dedicated plumbing, natural light, and mezzanine space accommodates a range of business, equipment-storage, and workspace needs.
The property is designated I-1 and features 9-inch-thick commercial-grade concrete floors designed to support heavy loads. The combination of garage access, dedicated plumbing, natural light, and mezzanine space accommodates a range of business, equipment-storage, and workspace needs.
Key Highlights
- 1,244‑square‑foot flex space built in 2024
- I‑1 zoning at 12872 Old Seward Hwy # 2 in South Anchorage
- 20' by 50' garage with a 14' by 20' mezzanine
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,830
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,600
$296.6K
Cap Rate 7%
$211,857
$211.9K
Cap Rate 9%
$164,778
$164.8K
Market Conditions
NOI Build-Up for 1,244 SF
Gross rent
$18.7K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$17.4K $14.03/SF
− OpEx
−$2.6K −$2.10/SF
NOI
$14.8K $11.92/SF
Area
Anchorage, AK
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,600
Cap Rate 7%
$211,857
Cap Rate 9%
$164,778
Alternative Uses
Best Use
Warehouse
$211.9K
$185.4K – $247.2K
NOI $14,830 @ 7.0% cap · market cap 2.97%
Second Best
Flex RnD
$201.8K
$176.6K – $235.5K
NOI $14,128 @ 7.0% cap · market cap 2.83%
Theoretical Best
Specialty Retail
$337.8K
$295.6K – $394.1K
NOI $23,646 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Demographics for 99515, AK
22,532
Population
8,137
Households
2.8
Avg Household Size
37
Median Age
41%
College-Educated
95%
High-School Grad
10.6 sq mi
ZIP Area
2,126
Density / Sq Mi
$112,445
Median Household Income
$55,657
Median Earnings
$1,716
Median Rent
$400,500
Median Home Value
Market
Average Price Trend$/SF for Flex space in Anchorage, AK
Properties on Market for Flex space in Anchorage
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned garage condo with dedicated plumbing fixtures, windows, and adaptable workspace.
Where is this flex space located?
The property is located at 12872 Old Seward Hwy # 2 Anchorage, AK.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,244‑square‑foot flex space built in 2024; I‑1 zoning at 12872 Old Seward Hwy # 2 in South Anchorage; 20' by 50' garage with a 14' by 20' mezzanine
