Anchorage Midtown Retail
For Sale
$650,000
500 E Benson Boulevard, Anchorage, AK 99503
Prime retail location in Midtown Anchorage with high traffic.
Property Size3,500 SF
Price / SF$185.71
Days on Market181
Property Features for 500 E Benson Boulevard
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Business Opportunity
Building Details
Year Built
2012
Listing Agency:
Jack White Commercial
Listed By:
Sam Steele · License #15685
(907) 563-5500
Source:
Bktanchorage
Added: Mar 26
Changed: Sep 20
Last Checked: Sep 21 at 8:56AM
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.
The Benson Center is situated in the Midtown Anchorage retail area, benefiting from a daily traffic count exceeding 21,000 vehicles. The property is located across from the Midtown Mall and adjacent to Metro Mall, with proximity to the Seward Highway. Current tenants include Little Caesars Pizza and Silk Restaurant and Sushi Bar. The property is suitable for an owner/user, with available space ranging from 9,590 RSF to 19,421 RSF. The property size is 26,233 square feet.
Key Highlights
- High traffic location with over 21,000 vehicles passing daily.
- Prime retail area in Midtown Anchorage.
- Large space available for owner/user: 9,590 RSF to 19,421 RSF.
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
$58,962
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
9.07%
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%
$1,179,240
$1.2M
Cap Rate 7%
$842,314
$842.3K
Cap Rate 9%
$655,133
$655.1K
Market Conditions
NOI Build-Up for 3,500 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
$88.2K $25.20/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$84.2K $24.07/SF
− OpEx
−$25.3K −$7.22/SF
NOI
$59.0K $16.85/SF
Area
Anchorage, AK
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,179,240
Cap Rate 7%
$842,314
Cap Rate 9%
$655,133
Alternative Uses
Best Use
Retail
$842.3K
$737.0K – $982.7K
NOI $58,962 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$950.4K
$831.6K – $1.11M
NOI $66,528 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Prime retail location in Midtown Anchorage with high traffic.
Where is this shopping center located?
The property is located at 500 E Benson Boulevard Anchorage, AK.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: High traffic location with over 21,000 vehicles passing daily.; Prime retail area in Midtown Anchorage.; Large space available for owner/user: **9,590 RSF to 19,421 RSF.**
