Turnkey Restaurant Opportunity in
For Sale
Contact for pricing
3400 C St, Anchorage, AK 99503
Fully equipped restaurant with liquor license in prime Midtown location.
Property Size6,812 SF
Lot Size1.33 Acres
Price / SF$366
Days on Market175
Property Features for 3400 C St
General Information
Standard status
Active
Size
6,812 SF
Class
B
Total Parking Spaces
77
Lot size
1.33 Acres
Property subtype
Retail, Mixed Use, Business for Sale
Zoning
B3
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
2000
Year Renovated
2009
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Jack White Commercial
(907) 563-5500
Listed By:
Eric J. Sobolik · License #AK RECS19008
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 10 at 2:11PM
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 is a rare opportunity to acquire a well-positioned 6,812 square foot property at 3400 C Street in Anchorage. Offered as a complete turnkey package ideal for an owner-user, the sale includes the real estate interest (subject to a long-term ground lease), a valuable liquor license, and all furniture, fixtures, and equipment (FF&E). The 57,905 square foot (1.33 acre) lot has 77 parking stalls. The property is strategically located in Anchorage's Midtown corridor with strong visibility and access. Zoned B3 - General Business, this asset is perfectly suited for a buyer looking to step into a fully equipped hospitality, dining, or event venue with minimal startup requirements. It is located adjacent to one of Anchorage's densest office building developments, hotels, and retail. The property is a built-out full-service restaurant and is sold as-is. It features an unutilized drive-thru, outdoor patio seating, and a Type 1 Hood System. The structure is fully sprinklered. It has easy access and highly visible signage.
Key Highlights
- Turnkey establishment: Includes real estate interest (subject to ground lease), liquor license, and all FF&E.
- Prime Midtown location: Highly visible with easy access, adjacent to offices, hotels, and retail.
- Full liquor license included: A valuable asset for hospitality or dining businesses.
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
$129,482
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
5.18%
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%
$2,589,640
$2.6M
Cap Rate 7%
$1,849,743
$1.8M
Cap Rate 9%
$1,438,689
$1.4M
Market Conditions
NOI Build-Up for 6,812 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
$179.8K $26.40/SF
− Vacancy
−$7.2K −$1.06/SF
EGI
$172.6K $25.34/SF
− OpEx
−$43.2K −$6.34/SF
NOI
$129.5K $19.01/SF
Area
Anchorage, AK
Vacancy
4.00%
Lease Rate
$26.40 /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%
$2,589,640
Cap Rate 7%
$1,849,743
Cap Rate 9%
$1,438,689
Alternative Uses
Best Use
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,482 @ 7.0% cap · market cap 5.18%
Second Best
Retail
$1.64M
$1.43M – $1.91M
NOI $114,756 @ 7.0% cap · market cap 4.59%
Theoretical Best
—
—
same as Best Use
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant with liquor license in prime Midtown location.
Where is this conventional restaurant located?
The property is located at 3400 C St Anchorage, AK.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Turnkey establishment: Includes real estate interest (subject to ground lease), liquor license, and all FF&E.; Prime Midtown location: Highly visible with easy access, adjacent to offices, hotels, and retail.; Full liquor license included: A valuable asset for hospitality or dining businesses.
