Flex Space with 8 Overhead
For Sale
$2,400,000
Pending
7851 Spring Street, Anchorage, AK 99518
Commercial Sale, Anchorage, AK
Property Size17,568 SF
Lot Size1.00 Acre
Days on Market53
Property Features for 7851 Spring Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I1 - Light Industrial
Directions
Head East E 80th Ave from Old Seward. North on Spring Street property at end on right.
Subdivision
1A - Anchorage Municipality
Standard status
Pending
APN
0141910700001
Size
17,568 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Vans L3&4 B4
Legal Description
Vans L3&4 B4
Utilities
Heating system
Radiant, Baseboard
Water source
Private
Amenities
8 overhead doors
all new LED lights
huge fenced yard
high ceilings
Building Details
Year built
1984
Building materials
Wood Frame
Roof type
Membrane
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Fred Thoerner · License #16527
(907) 351-9434
Added: Aug 17
Changed: Sep 16
Last Checked: Oct 8 at 1:06AM
MLS# 26-10465
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1984, this 17,568-square-foot flex property occupies 1 acre and includes a residence, office areas, a shop, and yard space. The wood-frame building has 8 overhead doors, high ceilings, membrane roofing, and recently installed LED lighting. Radiant and baseboard heating serve the building, while water is provided privately.
The fenced yard adds secured outdoor area for the property’s industrial and storage functions. Zoned I1 - Light Industrial, the site supports a combination of work, office, residential, and equipment-storage uses as configured. The property is located at 7851 Spring Street in Anchorage, Alaska.
The fenced yard adds secured outdoor area for the property’s industrial and storage functions. Zoned I1 - Light Industrial, the site supports a combination of work, office, residential, and equipment-storage uses as configured. The property is located at 7851 Spring Street in Anchorage, Alaska.
Key Highlights
- 17,568‑square‑foot flex property on 1 acre
- I1 - Light Industrial zoning
- 8 overhead doors and high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,303
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,406,060
$4.4M
Cap Rate 7%
$3,147,186
$3.1M
Cap Rate 9%
$2,447,811
$2.4M
Market Conditions
NOI Build-Up for 17,568 SF
Gross rent
$400.6K $22.80/SF
− Vacancy
−$48.1K −$2.74/SF
EGI
$352.5K $20.06/SF
− OpEx
−$132.2K −$7.52/SF
NOI
$220.3K $12.54/SF
Area
Anchorage, AK
Vacancy
12.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,406,060
Cap Rate 7%
$3,147,186
Cap Rate 9%
$2,447,811
Alternative Uses
Best Use
Mixed Use
$3.15M
$2.75M – $3.67M
NOI $220,303 @ 7.0% cap · market cap 9.18%
Second Best
Office B
$3.08M
$2.70M – $3.60M
NOI $215,823 @ 7.0% cap · market cap 8.99%
Theoretical Best
Specialty Retail
$4.77M
$4.17M – $5.57M
NOI $333,933 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - I1-zoned property combines residential, office, shop, and yard components.
Where is this flex space located?
The property is located at 7851 Spring Street Anchorage, AK.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 17,568‑square‑foot flex property on 1 acre; I1 - Light Industrial zoning; 8 overhead doors and high ceilings
