Downtown Office
For Sale
$1,230,000
131-133 Swanson Ave, Wasilla, AK 99654
Two downtown office buildings on nearly a half-acre, featuring paved parking, covered entries, and office space on both levels.
Property Size6,034 SF
Lot Size0.50 Acres
Price / SF$203.84
Days on Market313
Property Features for 131-133 Swanson Ave
General Information
Standard status
Active
Size
6,034 SF
Lot size
0.50 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,408
Amenities
3
24 Parking Spaces.
Building Details
Year Built
2005
Listing Agency:
RE/MAX Dynamic Properties Mat-Su Branch
(907) 232-4895
Listed By:
Russell Joyce · License #14891
(907) 232-4895
Source:
Xome
Added: Oct 3, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:33AM
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 RE/MAX Dynamic Properties Mat-Su Branch
Investment Insights
Based on property information with market context.
This offering includes two commercial office buildings on nearly a half-acre in downtown Wasilla. Building 1 is a log structure with a full daylighted basement and a total of 3,720 square feet, with covered entries and accessible space on the upper level. Building 2 is a two-story structure with a common entry, offices, lavatories, and kitchenettes on both levels.
The property provides adequate paved parking with barriers and includes business signage. Covered and accessible entry points support day-to-day tenant access across the buildings.
Overall, the configuration provides office space in both buildings with multiple restroom and kitchenette provisions in Building 2, along with a daylighted lower level in Building 1.
The property provides adequate paved parking with barriers and includes business signage. Covered and accessible entry points support day-to-day tenant access across the buildings.
Overall, the configuration provides office space in both buildings with multiple restroom and kitchenette provisions in Building 2, along with a daylighted lower level in Building 1.
Key Highlights
- Two commercial office buildings on nearly a half‑acre in downtown Wasilla
- Building 1 log structure with full daylighted basement and total 3,720 SF
- Covered entries on Building 1, with upper‑level accessibility
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
$84,066
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
6.83%
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%
$1,681,320
$1.7M
Cap Rate 7%
$1,200,943
$1.2M
Cap Rate 9%
$934,067
$934.1K
Market Conditions
NOI Build-Up for 6,034 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
$144.8K $24.00/SF
− Vacancy
−$32.7K −$5.42/SF
EGI
$112.1K $18.58/SF
− OpEx
−$28.0K −$4.64/SF
NOI
$84.1K $13.93/SF
Area
Matanuska-Susitna County, AK
Vacancy
22.60%
Lease Rate
$24.00 /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%
$1,681,320
Cap Rate 7%
$1,200,943
Cap Rate 9%
$934,067
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,066 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$44.61M
$39.03M – $52.04M
NOI $3,122,590 @ 7.0% cap · market cap 253.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 99654, AK
40,726
Population
17,006
Households
2.4
Avg Household Size
35
Median Age
24%
College-Educated
95%
High-School Grad
113.6 sq mi
ZIP Area
359
Density / Sq Mi
$93,739
Median Household Income
$53,748
Median Earnings
$1,233
Median Rent
$342,200
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?
Office building - Two downtown office buildings on nearly a half-acre, featuring paved parking, covered entries, and office space on both levels.
Where is this office building located?
The property is located at 131-133 Swanson Ave Wasilla, AK.
What is the asking price?
The asking price for this property is $1,230,000.
What are key features of this property?
This property features: Two commercial office buildings on nearly a half‑acre in downtown Wasilla; Building 1 log structure with full daylighted basement and total 3,720 SF; Covered entries on Building 1, with upper‑level accessibility
