Two-Story Office
For Sale
$2,600,000
3335 Arctic Boulevard, Anchorage, AK 99503
Well-maintained office property with flexible layouts, natural light, and on-site parking in Anchorage’s business district.
Property Size14,654 SF
Price / SF$177.43
Days on Market28
Property Features for 3335 Arctic Boulevard
General Information
Standard status
Active
Size
14,654 SF
Building Details
Year Built
1983
Listing Agency:
Jack White Commercial
(907) 563-5500
Listed By:
Marc Dunne
Source:
Bktanchorage
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 30 at 7:08PM
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 contains 14,654 square feet on a 24,502-square-foot parcel and was constructed in 1983. The property offers flexible floorplans, abundant natural light, and on-site parking, supporting a range of professional office configurations. The building is identified as well-maintained in the property information.
Located at 3335 Arctic Boulevard in Anchorage, the property provides access from major thoroughfares and is positioned within the city’s business district. The surrounding area includes professional services, retail, and restaurants, while Ted Stevens Anchorage International Airport is minutes away. The property is designated as an Economic Opportunity Zone and HubZone.
Located at 3335 Arctic Boulevard in Anchorage, the property provides access from major thoroughfares and is positioned within the city’s business district. The surrounding area includes professional services, retail, and restaurants, while Ted Stevens Anchorage International Airport is minutes away. The property is designated as an Economic Opportunity Zone and HubZone.
Key Highlights
- 14,654 SF two‑story office building on a 24,502 SF parcel
- Flexible floorplans with abundant natural light
- On‑site parking included
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
$180,024
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
6.92%
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%
$3,600,480
$3.6M
Cap Rate 7%
$2,571,771
$2.6M
Cap Rate 9%
$2,000,267
$2.0M
Market Conditions
NOI Build-Up for 14,654 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
$307.7K $21.00/SF
− Vacancy
−$67.7K −$4.62/SF
EGI
$240.0K $16.38/SF
− OpEx
−$60.0K −$4.10/SF
NOI
$180.0K $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%
$3,600,480
Cap Rate 7%
$2,571,771
Cap Rate 9%
$2,000,267
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $180,024 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.98M
$3.48M – $4.64M
NOI $278,543 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Well-maintained office property with flexible layouts, natural light, and on-site parking in Anchorage’s business district.
Where is this office building located?
The property is located at 3335 Arctic Boulevard Anchorage, AK.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 14,654 SF two‑story office building on a 24,502 SF parcel; Flexible floorplans with abundant natural light; On‑site parking included
