Anchorage Office Building with
For Sale
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201 E 56th Ave, Anchorage, AK 99518
Three-story office building with attached warehouse near the airport.
Property Size38,371 SF
Lot Size1.72 Acres
Price / SF$129
Days on Market156
Property Features for 201 E 56th Ave
General Information
Standard status
Active
Size
38,371 SF
Lot size
1.72 Acres
Property subtype
Office
Zoning
I1
Building Details
Year Built
1983
Buildings
1
Stories
3
Listing Agency:
Jack White Commercial
Listed By:
Marc Dunne CCIM SIOR · License #AK RECA13791
Source:
Crexi
Added: Mar 9
Changed: Aug 11
Last Checked: Aug 10 at 12:34PM
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.
This three-story commercial office building with an attached warehouse is located near International Airport Road in Midtown Anchorage. The property encompasses approximately 38,371 square feet, including 34,040 square feet of office space and 4,331 square feet of adjacent warehouse space. The building is fully sprinklered, with each floor spanning over 11,000 square feet. It is situated on a 74,800 square foot parcel with flexible I-1 zoning. The site features a fenced perimeter with an electronically operated gate and convenient access from E 56th Avenue. Four warehouse bays with overhead doors provide loading and storage capabilities. The property is currently leased on a triple net (NNN) basis but may be available to an owner-user.
Key Highlights
- Large commercial property totaling 38,371 SF with both office and warehouse space.
- Prime Midtown Anchorage location near International Airport Road.
- Flexible I‑1 zoning on a 74,800 SF parcel.
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
$404,668
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
8.18%
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%
$8,093,360
$8.1M
Cap Rate 7%
$5,780,971
$5.8M
Cap Rate 9%
$4,496,311
$4.5M
Market Conditions
NOI Build-Up for 38,371 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
$621.6K $16.20/SF
− Vacancy
−$43.5K −$1.13/SF
EGI
$578.1K $15.07/SF
− OpEx
−$173.4K −$4.52/SF
NOI
$404.7K $10.55/SF
Area
Anchorage, AK
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$8,093,360
Cap Rate 7%
$5,780,971
Cap Rate 9%
$4,496,311
Alternative Uses
Best Use
Office B
$6.73M
$5.89M – $7.86M
NOI $471,388 @ 7.0% cap · market cap 9.52%
Second Best
Warehouse
$6.53M
$5.72M – $7.62M
NOI $457,430 @ 7.0% cap · market cap 9.24%
Theoretical Best
Specialty Retail
$10.42M
$9.12M – $12.16M
NOI $729,356 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99518, AK
9,861
Population
4,568
Households
2.2
Avg Household Size
36
Median Age
32%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
2,595
Density / Sq Mi
$91,077
Median Household Income
$49,761
Median Earnings
$1,661
Median Rent
$297,900
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 - Three-story office building with attached warehouse near the airport.
Where is this office building located?
The property is located at 201 E 56th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Large commercial property totaling 38,371 SF with both office and warehouse space.; Prime Midtown Anchorage location near International Airport Road.; Flexible I‑1 zoning on a 74,800 SF parcel.
