Flex Warehouse with Office
For Sale
$1,400,000
6726 Greenwood St, Anchorage, AK 99518
I-1 zoned flex building offers warehouse/shop space, office area, and an upstairs one-bedroom apartment.
Property Size6,364 SF
Price / SF$219.99
Days on Market56
Property Features for 6726 Greenwood St
General Information
Standard status
Active
Size
6,364 SF
Zoning
I-1
Additional Details
Road Access
Yes
Building Details
Year Built
1984
Listing Agency:
RE/MAX Dynamic Properties - Eagle River Branch
Listed By:
Bryan J Trombley · License #129408
(907) 952-5861
Source:
Bktanchorage
Added: Jul 17
Changed: Sep 8
Last Checked: Sep 9 at 9:05PM
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 RE/MAX Dynamic Properties - Eagle River Branch
Investment Insights
Based on property information with market context.
This I-1 zoned flex warehouse is in strong condition and designed to combine work and office space in one building. The layout includes warehouse/shop space with high ceilings, an overhead door, and office space. An upstairs one-bedroom apartment adds a live/work component within the same structure.
Access is straightforward from Old Seward or from the frontage road between 66th Ave. and 68th Ave., supporting convenient arrival for operations and deliveries.
The property is well-suited for tenants seeking a warehouse-and-office configuration with an additional upstairs residential unit.
Access is straightforward from Old Seward or from the frontage road between 66th Ave. and 68th Ave., supporting convenient arrival for operations and deliveries.
The property is well-suited for tenants seeking a warehouse-and-office configuration with an additional upstairs residential unit.
Key Highlights
- I‑1 zoned flex building ready to lease
- Includes warehouse/shop space with high ceilings
- Features 1 overhead door
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
$75,867
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
5.42%
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%
$1,517,340
$1.5M
Cap Rate 7%
$1,083,814
$1.1M
Cap Rate 9%
$842,967
$843.0K
Market Conditions
NOI Build-Up for 6,364 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
$95.5K $15.00/SF
− Vacancy
−$6.2K −$0.98/SF
EGI
$89.3K $14.03/SF
− OpEx
−$13.4K −$2.10/SF
NOI
$75.9K $11.92/SF
Area
Anchorage, AK
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,517,340
Cap Rate 7%
$1,083,814
Cap Rate 9%
$842,967
Alternative Uses
Best Use
Warehouse
$1.08M
$948.3K – $1.26M
NOI $75,867 @ 7.0% cap · market cap 5.42%
Second Best
Flex RnD
$1.03M
$903.4K – $1.20M
NOI $72,275 @ 7.0% cap · market cap 5.16%
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.02M
NOI $120,967 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Demographics for 99518, AK
9,861
Population
4,568
Households
2.2
Avg Household Size
36
Median Age
32%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
2,595
Density / Sq Mi
$91,077
Median Household Income
$49,761
Median Earnings
$1,661
Median Rent
$297,900
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 Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - I-1 zoned flex building offers warehouse/shop space, office area, and an upstairs one-bedroom apartment.
Where is this flex space located?
The property is located at 6726 Greenwood St Anchorage, AK.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: I‑1 zoned flex building ready to lease; Includes warehouse/shop space with high ceilings; Features 1 overhead door
