Medical Office Building
For Sale
$2,450,000
1700 E Parks Highway Wasilla, Wasilla, AK 99654
Well-sized medical office building with two tenants, offering purchase options for investors or a partial owner-occupant.
Property Size7,665 SF
Price / SF$319.63
Days on Market43
Property Features for 1700 E Parks Highway Wasilla
General Information
Standard status
Active
Size
7,665 SF
Zoning
C
Building Details
Building Size
7,665 SF
Tenancy
Multi
Listing Agency:
Herrington and Company, LLC
(907) 263-9333
Listed By:
Matt Plunkett · License #16644
(907) 263-9333
Source:
Herringtonlifestyleandliving
Added: Jun 30
Changed: Aug 8
Last Checked: Jul 16 at 2:11AM
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 is a 7,665 SF medical office building currently occupied by two tenants. The property is structured to accommodate both an investor and an owner-occupant buyer, with one tenant on a long-term lease and the second tenant on a month-to-month arrangement. For a buyer seeking flexibility, the month-to-month tenant space may be available for owner use. For investors, the property includes a long-term lease component that can be retained through renewal.
The offering is for sale at 1700 E Parks Highway in Wasilla, Alaska. Because the building is already operating with two tenants, prospective buyers can evaluate current occupancy and lease timing as part of their decision-making.
The building suits investors looking to acquire a producing medical office asset with a mix of lease terms, and it also fits an owner-occupant strategy where a buyer can plan to occupy the month-to-month space while maintaining rental income from the longer-term tenant. The purchase is positioned for buyers who want control over near-term occupancy decisions and who are comfortable reviewing the existing lease structure.
The offering is for sale at 1700 E Parks Highway in Wasilla, Alaska. Because the building is already operating with two tenants, prospective buyers can evaluate current occupancy and lease timing as part of their decision-making.
The building suits investors looking to acquire a producing medical office asset with a mix of lease terms, and it also fits an owner-occupant strategy where a buyer can plan to occupy the month-to-month space while maintaining rental income from the longer-term tenant. The purchase is positioned for buyers who want control over near-term occupancy decisions and who are comfortable reviewing the existing lease structure.
Key Highlights
- 7,665 SF medical office building with two tenants
- Long‑term lease tenant plus a month‑to‑month lease tenant
- Investor option includes renewing the long‑term lease
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
$111,756
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
4.56%
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%
$2,235,120
$2.2M
Cap Rate 7%
$1,596,514
$1.6M
Cap Rate 9%
$1,241,733
$1.2M
Market Conditions
NOI Build-Up for 7,665 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
$207.0K $27.00/SF
− Vacancy
−$20.7K −$2.70/SF
EGI
$186.3K $24.30/SF
− OpEx
−$74.5K −$9.72/SF
NOI
$111.8K $14.58/SF
Area
Matanuska-Susitna County, AK
Vacancy
10.00%
Lease Rate
$27.00 /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%
$2,235,120
Cap Rate 7%
$1,596,514
Cap Rate 9%
$1,241,733
Alternative Uses
Best Use
Healthcare Medical
$1.60M
$1.40M – $1.86M
NOI $111,756 @ 7.0% cap · market cap 4.56%
Second Best
Office B
$1.53M
$1.33M – $1.78M
NOI $106,789 @ 7.0% cap · market cap 4.36%
Theoretical Best
Multifamily LT 5
$56.67M
$49.58M – $66.11M
NOI $3,966,631 @ 7.0% cap · market cap 161.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-sized medical office building with two tenants, offering purchase options for investors or a partial owner-occupant.
Where is this medical office space located?
The property is located at 1700 E Parks Highway Wasilla Wasilla, AK.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 7,665 SF medical office building with two tenants; Long‑term lease tenant plus a month‑to‑month lease tenant; Investor option includes renewing the long‑term lease
