Retail Space with Front
For Sale
$649,000
6-7-1006 W Northern Lights Blvd, Anchorage, AK 99503
Vacant retail suites in an established neighborhood shopping center with shared surface parking immediately outside.
Property Size3,393 SF
Price / SF$191.28
Days on Market14
Property Features for 6-7-1006 W Northern Lights Blvd
General Information
Standard status
Active
Size
3,393 SF
Building Details
Tenancy
Single
Listing Agency:
Jack White Commercial
(907) 229-5525
Listed By:
Marc Dunne
(907) 229-5525
Source:
Exprealty
Added: Aug 19
Changed: Aug 31
Last Checked: Aug 31 at 6:04PM
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.
Suites 6 and 7 comprise approximately 3,393 SF of retail space within an established neighborhood shopping center. The property is currently vacant and offers a flexible layout for a retail occupant or owner-user. Shared surface parking is positioned directly in front of the space.
The property fronts W Northern Lights Boulevard in Midtown Anchorage, providing access to an established commercial corridor. Its location within the shopping center and direct connection to shared parking support convenient customer access.
The property fronts W Northern Lights Boulevard in Midtown Anchorage, providing access to an established commercial corridor. Its location within the shopping center and direct connection to shared parking support convenient customer access.
Key Highlights
- ±3,393 SF of retail space
- Suites 6 & 7 included in the sale
- Flexible retail layout within an established neighborhood shopping center
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
$57,159
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
8.81%
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%
$1,143,180
$1.1M
Cap Rate 7%
$816,557
$816.6K
Cap Rate 9%
$635,100
$635.1K
Market Conditions
NOI Build-Up for 3,393 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
$85.5K $25.20/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$81.7K $24.07/SF
− OpEx
−$24.5K −$7.22/SF
NOI
$57.2K $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%
$1,143,180
Cap Rate 7%
$816,557
Cap Rate 9%
$635,100
Alternative Uses
Best Use
Retail
$816.6K
$714.5K – $952.7K
NOI $57,159 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$921.3K
$806.2K – $1.07M
NOI $64,494 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
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?
Retail space - Vacant retail suites in an established neighborhood shopping center with shared surface parking immediately outside.
Where is this retail space located?
The property is located at 6-7-1006 W Northern Lights Blvd Anchorage, AK.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: ±3,393 SF of retail space; Suites 6 & 7 included in the sale; Flexible retail layout within an established neighborhood shopping center
