Two-Story Fully Occupied Office
New
For Sale
$1,450,000
307 E Northern Lights Boulevard, Anchorage, AK 99503
Visible office asset with on-site parking and convenient access to restaurants, retail, banking, and professional services.
Property Size9,954 SF
Price / SF$145.67
Days on Market7
Property Features for 307 E Northern Lights Boulevard
General Information
Standard status
Active
Size
9,954 SF
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Year Built
1965
Buildings
1
Stories
2
Listing Agency:
Jack White Commercial
(907) 563-5500
Listed By:
Marc Dunne
Source:
Sellingalaskaco
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 12:18PM
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 two-story office building was constructed in 1965 and is fully occupied. On-site parking serves both occupants and visitors, while the property’s position along a heavily traveled thoroughfare provides strong exposure to passing traffic.
Located in Midtown Anchorage at 307 E Northern Lights Boulevard, the property records more than 25,575 vehicles daily. Restaurants, retail, banking, and professional services are all part of the surrounding commercial environment, supporting convenient access for office users and customers.
Located in Midtown Anchorage at 307 E Northern Lights Boulevard, the property records more than 25,575 vehicles daily. Restaurants, retail, banking, and professional services are all part of the surrounding commercial environment, supporting convenient access for office users and customers.
Key Highlights
- Fully occupied two‑story office building
- More than 25,575 vehicles pass daily
- On‑site parking for tenants and customers
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
$122,285
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
8.43%
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%
$2,445,700
$2.4M
Cap Rate 7%
$1,746,929
$1.7M
Cap Rate 9%
$1,358,722
$1.4M
Market Conditions
NOI Build-Up for 9,954 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
$209.0K $21.00/SF
− Vacancy
−$46.0K −$4.62/SF
EGI
$163.0K $16.38/SF
− OpEx
−$40.8K −$4.10/SF
NOI
$122.3K $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%
$2,445,700
Cap Rate 7%
$1,746,929
Cap Rate 9%
$1,358,722
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,285 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.70M
$2.37M – $3.15M
NOI $189,206 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
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
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 - Visible office asset with on-site parking and convenient access to restaurants, retail, banking, and professional services.
Where is this office building located?
The property is located at 307 E Northern Lights Boulevard Anchorage, AK.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Fully occupied two‑story office building; More than 25,575 vehicles pass daily; On‑site parking for tenants and customers
