Anchorage Flex Space For
For Sale
$915,000
212 E 51st Ave, Anchorage, AK 99503
Flex space with offices, warehouse, fenced yard, and parking.
Property Size4,400 SF
Price / SF$207.95
Days on Market255
Property Features for 212 E 51st Ave
General Information
Standard status
Active
Size
4,400 SF
Building Details
Year Built
1969
Listing Agency:
Colliers International
Listed By:
Elisha Martin, Cason Martin
(907) 561-5155
Source:
Bktanchorage
Added: Jan 26
Changed: Oct 3
Last Checked: Oct 7 at 1:39PM
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 Colliers International
Investment Insights
Based on property information with market context.
This property, offered for sale along with the property at 139 E. 51st, is currently leased to Convergint. An offering memorandum is available upon execution of a non-disclosure agreement. The property features a new roof installed in 2013 and a new boiler installed in 2023. Access controls, security features, and connection to city water and sewer were updated in 2022. The interior is divided into office spaces and a warehouse area, which includes one overhead door. Exterior lighting and a fenced yard are present. The property also provides approximately 27 parking spaces.
Key Highlights
- Leased to Convergint (Offering Memorandum available with executed NDA)
- Includes warehouse area with one overhead door
- Approximately 27 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,054
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,080
$1.1M
Cap Rate 7%
$772,200
$772.2K
Cap Rate 9%
$600,600
$600.6K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$92.4K $21.00/SF
− Vacancy
−$20.3K −$4.62/SF
EGI
$72.1K $16.38/SF
− OpEx
−$18.0K −$4.10/SF
NOI
$54.1K $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 Rate 5%
$1,081,080
Cap Rate 7%
$772,200
Cap Rate 9%
$600,600
Alternative Uses
Best Use
Office B
$772.2K
$675.7K – $900.9K
NOI $54,054 @ 7.0% cap · market cap 5.91%
Second Best
Warehouse
$749.3K
$655.7K – $874.2K
NOI $52,454 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with offices, warehouse, fenced yard, and parking.
Where is this flex space located?
The property is located at 212 E 51st Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: Leased to Convergint (Offering Memorandum available with executed NDA); Includes warehouse area with one overhead door; Approximately 27 parking spaces
