Two-Story Office
For Sale
$699,000
235 F St, Anchorage, AK 99501
Fully occupied office property with dedicated parking and tenant transition flexibility.
Property Size2,808 SF
Price / SF$248.93
Days on Market27
Property Features for 235 F St
General Information
Standard status
Active
Size
2,808 SF
Total Parking Spaces
13
Occupancy
100%
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Herrington and Company, LLC
(907) 263-9333
Listed By:
Paul Lambert
Source:
Kachemakgrouprealestate
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 30 at 8:57PM
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 Herrington and Company, LLC
Investment Insights
Based on property information with market context.
This two-story office property is fully leased and includes an off-street parking lot accommodating 13 vehicles. The building is offered with its existing tenancy in place, while the occupants are expected to relocate with 90 days’ notice.
The property is located at 235 F St in Anchorage, Alaska. Its office configuration, current occupancy, and dedicated parking support continued commercial use without adding unsupported assumptions about layout or improvements.
The property is located at 235 F St in Anchorage, Alaska. Its office configuration, current occupancy, and dedicated parking support continued commercial use without adding unsupported assumptions about layout or improvements.
Key Highlights
- Two‑story office building
- Off‑street parking lot for 13 cars
- 100% of the building is rented
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
$34,496
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
4.94%
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%
$689,920
$689.9K
Cap Rate 7%
$492,800
$492.8K
Cap Rate 9%
$383,289
$383.3K
Market Conditions
NOI Build-Up for 2,808 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
$59.0K $21.00/SF
− Vacancy
−$13.0K −$4.62/SF
EGI
$46.0K $16.38/SF
− OpEx
−$11.5K −$4.10/SF
NOI
$34.5K $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 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%
$689,920
Cap Rate 7%
$492,800
Cap Rate 9%
$383,289
Alternative Uses
Best Use
Office B
$492.8K
$431.2K – $574.9K
NOI $34,496 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$762.5K
$667.2K – $889.6K
NOI $53,374 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied office property with dedicated parking and tenant transition flexibility.
Where is this office building located?
The property is located at 235 F St Anchorage, AK.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑story office building; Off‑street parking lot for 13 cars; 100% of the building is rented
