Office Building with Heated
New
For Sale
$349,000
1501 W 34th Ave, Anchorage, AK 99503
B3-zoned property with office accommodations and business or residential use potential.
Property Size1,152 SF
Lot Size0.19 Acres
Price / SF$302.95
Days on Market7
Property Features for 1501 W 34th Ave
General Information
Standard status
Active
Size
1,152 SF
Lot size
0.19 Acres
Zoning
B3
Building Details
Year Built
1956
Buildings
2
Listing Agency:
RE/MAX Dynamic Properties
(907) 227-6794
Listed By:
Elizabeth Hooper · License #14367
Source:
Kachemakgrouprealestate
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 8:07PM
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
Investment Insights
Based on property information with market context.
This 1,152-square-foot office property, built in 1956, is currently configured for an accounting practice. The interior includes a reception area, four private offices, a shared workspace, and one full bathroom. A detached 676-square-foot heated garage provides additional enclosed space.
The property includes a level 8,100-square-foot south-facing lot with landscaping and is located at 1501 W 34th Ave in Anchorage. Its B3 zoning supports business or residential use. The neighboring 8,100-square-foot lot at 1503 W 34th Ave is also available for purchase. The property is offered as-is.
The property includes a level 8,100-square-foot south-facing lot with landscaping and is located at 1501 W 34th Ave in Anchorage. Its B3 zoning supports business or residential use. The neighboring 8,100-square-foot lot at 1503 W 34th Ave is also available for purchase. The property is offered as-is.
Key Highlights
- 1,152 SF office building built in 1956
- B3 zoning supports business or residential use
- Interior includes reception, 4 private offices, collaborative workspace, and a full bathroom
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
$14,152
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
4.06%
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%
$283,040
$283.0K
Cap Rate 7%
$202,171
$202.2K
Cap Rate 9%
$157,244
$157.2K
Market Conditions
NOI Build-Up for 1,152 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
$24.2K $21.00/SF
− Vacancy
−$5.3K −$4.62/SF
EGI
$18.9K $16.38/SF
− OpEx
−$4.7K −$4.10/SF
NOI
$14.2K $12.29/SF
Area
Anchorage, AK
Vacancy
22.00%
Lease Rate
$21.00 /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%
$283,040
Cap Rate 7%
$202,171
Cap Rate 9%
$157,244
Alternative Uses
Best Use
Office B
$202.2K
$176.9K – $235.9K
NOI $14,152 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - B3-zoned property with office accommodations and business or residential use potential.
Where is this office building located?
The property is located at 1501 W 34th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,152 SF office building built in 1956; B3 zoning supports business or residential use; Interior includes reception, 4 private offices, collaborative workspace, and a full bathroom
