Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space Near Medical Area Title is generated by Realmo AI

    2221 E Northern Lights Blvd Ste 119, Anchorage, AK 99508

    View on Map
    Claim this Listing
    For Lease
    $1.60 SF/Yr

    Office space for rent near hospitals and universities.

    Added:
    Jan 26, 2026
    Days on Market:
    125
    Last Refresh:
    Apr 5 at 8:22 pm

    Property Features for 2221 E Northern Lights Blvd Ste 119

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Wade M Bradison

    Listing agent Wade M Bradison

    Listing office Frampton & Opinsky, LLC

    Listing date Jan 26, 2026

    Source Exprealty

    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 Frampton & Opinsky, LLC

    HighLights

    • Convenient location near hospitals and universities.
    • Garage parking available.
    • Heated storage units available.
    • Full‑service building.
    • Located near the corner of Lake Otis and East Northern Lights Blvd.

    Overview

    This office space is situated in a convenient location near hospitals and universities, specifically near the corner of Lake Otis and East Northern Lights Blvd. Garage parking is available, and heated storage units are also an option. The building operates on a full-service basis, with the exception of janitorial services.
    Location Intelligence

    Current Use by Public Records

    Public Offices Commission State Government Office Credible Insurance Alaska Insurance Agency Charter College College Alaska Police & Fire ... Charitable Organization Alaska Police Chaplain ... Church

    Map

    City
    Anchorage
    County
    Anchorage
    State
    Alaska
    Longitude
    -149.8397017
    Latitude
    61.1962224

    Nearby Similar for Lease

    • $2.00 SF/Yr
      3,168 SF

      Anchorage Commercial Space For Rent

      Commercial space available in Anchorage, suitable for medical or office use.
      4007 Old Seward Highway, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      3,168 SF

      Anchorage Commercial Space Available Now

      Commercial space in Anchorage, previously occupied by a chiropractor.
      4007 Old Seward Highway, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      1,684 SF

      Anchorage Commercial Space For Rent

      Commercial space available in Anchorage, Alaska, formerly a dry cleaner.
      5915 Lake Otis Parkway, Anchorage, AK 99507
      View Details
    • $2.00 SF/Yr
      3,168 SF

      Anchorage Medical Space Available Now

      Medical space with reception, PT rooms, and treatment rooms available.
      4007 Old Seward Highway, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      1,604 SF

      Anchorage Office Suite For Rent

      Ground floor office suite near JBER main entrance.
      4600 DeBarr Road, Anchorage, AK 99508
      View Details
    • $1.00 SF/Yr
      5,201 SF

      Anchorage Warehouse with Office Space

      Warehouse with office and mezzanine space in midtown Anchorage.
      2404 Barrow Street, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      425 SF

      Retail Space in Piazza Plaza

      Retail space with three stations in Piazza Plaza Mall.
      601 E Northern Lights Boulevard, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      4,000 SF

      Anchorage Retail-Office Space Available

      Retail-office space for lease in Anchorage, fronting Fireweed Lane.
      123 E Fireweed Lane, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      4,000 SF

      Anchorage Retail-Office Space Available

      Retail-office space for lease in Anchorage, fronting Fireweed Lane.
      123 E Fireweed Lane, Anchorage, AK 99503
      View Details
    • $2.00 SF/Yr
      4,000 SF

      Anchorage Retail-Office Space Available

      Retail-office space for lease in Anchorage, fronting Fireweed Lane.
      123 E Fireweed Lane, Anchorage, AK 99503
      View Details
    • $1.00 SF/Yr
      1,810 SF

      Anchorage Office Space For Rent

      Value-priced office space with ample parking in Anchorage, Alaska.
      123 E Fireweed Lane, Anchorage, AK 99503
      View Details
    • $2 SF/Yr
      2,412 SF

      Retail Space on E. Tudor

      Ground floor retail space with high visibility and traffic.
      107-2421 E Tudor Rd, Anchorage, AK
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent near hospitals and universities.
    Where is this office units located?
    The property is located at 2221 E Northern Lights Blvd Ste 119 Anchorage, AK.
    What is the lease rate?
    The lease rate is $1.60 SF/Yr.
    What are key features of this property?
    This property features: Convenient location near hospitals and universities.; Garage parking available.; Heated storage units available.
    (907) 276-1007
    We can help!
    Listing Contact
    Wade M Bradison
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2221 E Northern Lights Blvd Ste 119, Anchorage, AK, 99508-4140
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!