Medical Office Property with
For Sale
$750,000
12900 Old Seward Hwy, Anchorage, AK 99515
Two-level medical office property with an apartment, detached garage, carport, paved parking, and some dental equipment.
Property Size3,749 SF
Price / SF$200.05
Days on Market14
Property Features for 12900 Old Seward Hwy
General Information
Standard status
Active
Size
3,749 SF
Building Details
Year Built
1967
Listing Agency:
Herrington and Company, LLC
(907) 229-6822
Listed By:
Lisa Herrington
Source:
Griggrealty
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 25 at 4:47AM
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 Herrington and Company, LLC
Investment Insights
Based on property information with market context.
This medical office property at 12900 Old Seward Hwy includes 3,749 SF of total property area and was built in 1967. The building configuration includes a 1,184 SF first-floor basement area and 1,665 SF of medical center or office space on the second floor. A 900 SF residential apartment is also included.
The property features a 1,200 SF detached garage, a 400 SF carport, 15,000 feet of paved parking, and a 2,500-foot fence. Some dental equipment is included. The combination of office, residential, garage, and parking improvements provides a varied physical layout for medical office use.
The property features a 1,200 SF detached garage, a 400 SF carport, 15,000 feet of paved parking, and a 2,500-foot fence. Some dental equipment is included. The combination of office, residential, garage, and parking improvements provides a varied physical layout for medical office use.
Key Highlights
- 3,749 SF property built in 1967
- 1,665 SF medical center or office area on the second floor
- 900 SF residential apartment included
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
$48,587
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
6.48%
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%
$971,740
$971.7K
Cap Rate 7%
$694,100
$694.1K
Cap Rate 9%
$539,856
$539.9K
Market Conditions
NOI Build-Up for 3,749 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
$90.0K $24.00/SF
− Vacancy
−$9.0K −$2.40/SF
EGI
$81.0K $21.60/SF
− OpEx
−$32.4K −$8.64/SF
NOI
$48.6K $12.96/SF
Area
Anchorage, AK
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$971,740
Cap Rate 7%
$694,100
Cap Rate 9%
$539,856
Alternative Uses
Best Use
Healthcare Medical
$694.1K
$607.3K – $809.8K
NOI $48,587 @ 7.0% cap · market cap 6.48%
Second Best
Mixed Use
$671.6K
$587.7K – $783.5K
NOI $47,012 @ 7.0% cap · market cap 6.27%
Theoretical Best
Specialty Retail
$1.02M
$890.8K – $1.19M
NOI $71,261 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-level medical office property with an apartment, detached garage, carport, paved parking, and some dental equipment.
Where is this medical office space located?
The property is located at 12900 Old Seward Hwy Anchorage, AK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,749 SF property built in 1967; 1,665 SF medical center or office area on the second floor; 900 SF residential apartment included
