Anchorage Office Building For
For Sale
Contact for pricing
375 W 36th Ave, Anchorage, AK 99503
Three-story office building with income and owner-user potential.
Property Size19,333 SF
Price / SF$170.69
Days on Market964
Property Features for 375 W 36th Ave
General Information
Standard status
Active
Size
19,333 SF
Property subtype
Office
Zoning
B3
Building Details
Year Built
1974
Listing Agency:
Jack White Commercial
(907) 762-7590
Listed By:
Carl D. Kuhn · License #AK
Source:
Crexi
Added: Dec 21, 2023
Changed: Aug 8
Last Checked: May 13 at 8:17PM
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 three-story office building presents an opportunity for owner-users with existing income. The owner has the option to occupy 5,076 rentable square feet on the second floor. The first floor is occupied by Progressive Insurance, and Nordic Calista occupies the third floor. The property features convenient access, ample parking, and signage options on 36th Avenue. Its location provides walking distance access to restaurants, retail shops, banks, and hotels. The property has a total size of 19,333 square feet.
Key Highlights
- Owner/user opportunity to occupy 5,076 RSF on the second floor.
- Income potential from existing tenants (Progressive Insurance and Nordic Calista).
- Excellent access, ample parking, and great signage on 36th Avenue.**
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
$237,506
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
7.20%
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%
$4,750,120
$4.8M
Cap Rate 7%
$3,392,943
$3.4M
Cap Rate 9%
$2,638,956
$2.6M
Market Conditions
NOI Build-Up for 19,333 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
$406.0K $21.00/SF
− Vacancy
−$89.3K −$4.62/SF
EGI
$316.7K $16.38/SF
− OpEx
−$79.2K −$4.10/SF
NOI
$237.5K $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%
$4,750,120
Cap Rate 7%
$3,392,943
Cap Rate 9%
$2,638,956
Alternative Uses
Best Use
Office B
$3.39M
$2.97M – $3.96M
NOI $237,506 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.25M
$4.59M – $6.12M
NOI $367,482 @ 7.0% cap · market cap 11.14%
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 - Three-story office building with income and owner-user potential.
Where is this office building located?
The property is located at 375 W 36th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Owner/user opportunity to occupy 5,076 RSF on the second floor.; Income potential from existing tenants (Progressive Insurance and Nordic Calista).; Excellent access, ample parking, and great signage on 36th Avenue.**
