Medical Office Building
For Sale
$2,299,000
1700 E Parks Hwy, 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$299.93
Days on Market112
Property Features for 1700 E Parks Hwy
General Information
Standard status
Active
Size
7,665 SF
Building Details
Tenancy
Multi
Listing Agency:
Jack White Commercial
Listed By:
Brandon L Walker
(907) 563-7733
Source:
Kristancole
Added: Jun 30
Changed: Oct 9
Last Checked: Oct 7 at 3:04PM
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 Jack White Commercial
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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 / Yr
$111,756
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
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
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 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 4.86%
Second Best
Office B
$1.53M
$1.33M – $1.78M
NOI $106,789 @ 7.0% cap · market cap 4.65%
Theoretical Best
Multifamily LT 5
$56.67M
$49.58M – $66.11M
NOI $3,966,631 @ 7.0% cap · market cap 172.54%
Zoning and permitted uses should be independently verified with authorities.
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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 Hwy Wasilla, AK.
What is the asking price?
The asking price for this property is $2,299,000.
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
