For Sale
$4,300,000
3940 Arctic Blvd, Anchorage, AK 99503
Three-story office building with basement storage in midtown Anchorage.
Property Size30,240 SF
Lot Size0.95 Acres
Price / SF$142.20
Days on Market434
Property Features for 3940 Arctic Blvd
General Information
Standard status
Active
Property type
Office buildings, Office Spaces
Size
30,240 SF
Lot size
0.95 Acres
Building Details
Year Built
1984
Listed By:
yurii.kononov_555_17
Added: Aug 18, 2025
Changed: Jun 10
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$371,498
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,429,960
$7.4M
Cap Rate 7%
$5,307,114
$5.3M
Cap Rate 9%
$4,127,756
$4.1M
Market Conditions
NOI Build-Up for 30,240 SF
Gross rent
$635.0K $21.00/SF
− Vacancy
−$139.7K −$4.62/SF
EGI
$495.3K $16.38/SF
− OpEx
−$123.8K −$4.10/SF
NOI
$371.5K $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 Rate 5%
$7,429,960
Cap Rate 7%
$5,307,114
Cap Rate 9%
$4,127,756
Alternative Uses
Best Use
Office B
$5.31M
$4.64M – $6.19M
NOI $371,498 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.21M
$7.19M – $9.58M
NOI $574,802 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with basement storage in midtown Anchorage.
Where is this office building located?
The property is located at 3940 Arctic Blvd Anchorage, AK.
What is the asking price?
The asking price for this property is $4,300,000.
