Two-Tenant Medical Office
For Sale
$2,299,000
1700 E Parks Hwy, Wasilla, AK 99654
Occupied by two tenants with varied lease terms.
Property Size7,665 SF
Price / SF$299.93
Days on Market42
Property Features for 1700 E Parks Hwy
General Information
Standard status
Active
Size
7,665 SF
Building Details
Buildings
1
Building Size
7,665 SF
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Jack White Commercial
(907) 563-7733
Listed By:
Brandon L Walker
Source:
Kristancole
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 28 at 1:08PM
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
Investment Insights
Based on property information with market context.
The property is a 7,665-square-foot medical office building with two existing tenants. Its current occupancy combines one long-term lease with a separate month-to-month arrangement, creating a defined leasing profile for a purchaser.
The month-to-month space may accommodate a partial owner occupant, while the separately leased area remains occupied under its existing term. The property is located at 1700 E Parks Hwy in Wasilla, Alaska.
The month-to-month space may accommodate a partial owner occupant, while the separately leased area remains occupied under its existing term. The property is located at 1700 E Parks Hwy in Wasilla, Alaska.
Key Highlights
- 7,665 SF medical office building
- Two existing tenants occupy the property
- One tenant is on a 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
4.86%
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 4.86%
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.
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 - Occupied by two tenants with varied lease terms.
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; Two existing tenants occupy the property; One tenant is on a long‑term lease
