Downtown Office-Warehouse
For Sale
$8,000,000
229 E Whitney Rd, Anchorage, AK 99501
Versatile office-warehouse on an Alaska Railroad ground lease with 480V three-phase power and built-in office improvements.
Property Size67,348 SF
Price / SF$118.79
Days on Market340
Property Features for 229 E Whitney Rd
General Information
Standard status
Active
Size
67,348 SF
Property subtype
Commercial
Site & Location
Neighborhood
Downtown
Additional Details
Heavy Power
Yes
Listing Agency:
Infinity Commercial Real Estate Group
Listed By:
Albert Circosta · License #14721-RECB
(907) 230-3638
Source:
Seehomesinalaska
Added: Nov 19, 2025
Changed: Oct 1
Last Checked: Oct 24 at 5:38PM
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 Infinity Commercial Real Estate Group
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Investment Insights
Based on property information with market context.
This downtown office-warehouse facility is available for sale or lease and operates on a 55-year Alaska Railroad ground lease through December 31, 2069. The property supports storage and light manufacturing, with 480V three-phase power available. Level 2 includes approximately 8,710 square feet of customized office space, including conexes, a large conference room with a glass wall, and exterior offices.
The facility’s configuration is designed for mixed work and storage use, combining office space with warehouse/manufacturing functionality. The Alaska Railroad ground lease provides long-term tenure for an owner or tenant through the end of the lease term.
If you’re looking for a single building that can handle day-to-day office operations alongside storage and light manufacturing, this property’s office build-out and 480V power should be directly relevant to typical operating requirements.
The facility’s configuration is designed for mixed work and storage use, combining office space with warehouse/manufacturing functionality. The Alaska Railroad ground lease provides long-term tenure for an owner or tenant through the end of the lease term.
If you’re looking for a single building that can handle day-to-day office operations alongside storage and light manufacturing, this property’s office build-out and 480V power should be directly relevant to typical operating requirements.
Key Highlights
- Downtown office/warehouse on a 55‑year Alaska Railroad ground lease through December 31, 2069
- Includes 480V 3‑phase power
- 8,710 SF level 2 customized office area with conexes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$710,265
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,205,300
$14.2M
Cap Rate 7%
$10,146,643
$10.1M
Cap Rate 9%
$7,891,833
$7.9M
Market Conditions
NOI Build-Up for 67,348 SF
Gross rent
$1.09M $16.20/SF
− Vacancy
−$76.4K −$1.13/SF
EGI
$1.01M $15.07/SF
− OpEx
−$304.4K −$4.52/SF
NOI
$710.3K $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 Rate 5%
$14,205,300
Cap Rate 7%
$10,146,643
Cap Rate 9%
$7,891,833
Alternative Uses
Best Use
Office B
$11.82M
$10.34M – $13.79M
NOI $827,370 @ 7.0% cap · market cap 10.34%
Second Best
Warehouse
$11.47M
$10.04M – $13.38M
NOI $802,872 @ 7.0% cap · market cap 10.04%
Theoretical Best
Specialty Retail
$18.29M
$16.00M – $21.34M
NOI $1,280,151 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
Median Home Value
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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?
Flex space - Versatile office-warehouse on an Alaska Railroad ground lease with 480V three-phase power and built-in office improvements.
Where is this flex space located?
The property is located at 229 E Whitney Rd Anchorage, AK.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Downtown office/warehouse on a 55‑year Alaska Railroad ground lease through December 31, 2069; Includes 480V 3‑phase power; 8,710 SF level 2 customized office area with conexes
