Historical Nightclub/Bar/Restaurant
535 W 3rd Ave, Anchorage, AK 99501
For Sale
$1,200,000
Former nightclub/bar/restaurant with great reputation for food and entertainment.
Property Size6,994 SF
Price / SF$171.58
Days on Market292
Property Features for 535 W 3rd Ave
General Information
Standard status
Size
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Herrington and Company, LLC
Listed By:
Paul Lambert
(907) 263-9333
Source:
Kristancole
Added: Jan 26
Changed: Oct 25
Last Checked: Oct 7 at 2:12PM
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 Herrington and Company, LLC
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Investment Insights
Based on property information with market context.
This property previously operated as a historical nightclub, bar, and restaurant known as the ''Woodshed'', celebrated for its food, dancing, and overall entertainment. It features two full bars and an outdoor deck. The layout includes a cabaret downstairs, with the upstairs area previously utilized as office space. It was known as one of the best downtown restaurants & bars to hang out after work or evenings.
Key Highlights
- Former historical nightclub/bar/restaurant with a great reputation.
- Prime downtown location.
- Includes two full bars.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,921
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,718,420
$1.7M
Cap Rate 7%
$1,227,443
$1.2M
Cap Rate 9%
$954,678
$954.7K
Market Conditions
NOI Build-Up for 6,994 SF
Gross rent
$146.9K $21.00/SF
− Vacancy
−$32.3K −$4.62/SF
EGI
$114.6K $16.38/SF
− OpEx
−$28.6K −$4.10/SF
NOI
$85.9K $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%
$1,718,420
Cap Rate 7%
$1,227,443
Cap Rate 9%
$954,678
Alternative Uses
Best Use
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $132,942 @ 7.0% cap · market cap 11.08%
Second Best
Office B
$1.23M
$1.07M – $1.43M
NOI $85,921 @ 7.0% cap · market cap 7.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Demographics for 99501, AK
18,590
Population
8,906
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,775
Density / Sq Mi
$69,591
Median Household Income
$43,542
Median Earnings
$1,181
Median Rent
$378,700
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Bar & Pub - Former nightclub/bar/restaurant with great reputation for food and entertainment.
Where is this bar & pub located?
The property is located at 535 W 3rd Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Former historical nightclub/bar/restaurant with a great reputation.; Prime downtown location.; Includes two full bars.
