Flex Office and Warehouse
For Sale
$750,000
805 Gambell Street, Anchorage, AK 99501
Combination office and warehouse with 12' ceilings, roll-up door, and on-site parking for contractor or service operations.
Property Size2,056 SF
Price / SF$364.79
Days on Market82
Property Features for 805 Gambell Street
General Information
Standard status
Active
Size
2,056 SF
Class
B
Total Parking Spaces
8
Property subtype
General Commercial
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
1
Building Details
Year Built
1973
Listing Agency:
Figure 9 Real Estate LLC
(907) 240-8210
Listed By:
David Velasquez
(907) 240-8210
Source:
Xome
Added: May 17
Changed: Jul 10
Last Checked: Jul 16 at 6:17AM
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 Figure 9 Real Estate LLC
Investment Insights
Based on property information with market context.
This versatile mixed-use commercial building is designed to combine work space and administration in one location. The property includes approximately 1,000 SF of office plus approximately 1,000 SF of warehouse/shop space, with 12' ceilings and a roll-up door for practical loading and access. There is a private restroom and on-site parking, supported by functional utilities and infrastructure including a floor drain and oil separator. A furnace was replaced within the last four years.
Set on a high-visibility corner lot in Downtown Anchorage, the building is positioned for straightforward customer and delivery access. The property includes 8 parking spaces and is described as offering easy access and strong traffic exposure. It also has high-speed fiberoptic internet, supporting modern business needs.
This configuration suits owner-users looking for both office workflow and on-site shop or storage capability, including contractor, supplier, service business, or trades company use. The building is described as a flexible Class B property with potential to add additional floor area above, giving a buyer room to grow. Overall, it presents a practical, utility-forward setup for businesses that need a dedicated office/warehouse combination with supporting site amenities.
Set on a high-visibility corner lot in Downtown Anchorage, the building is positioned for straightforward customer and delivery access. The property includes 8 parking spaces and is described as offering easy access and strong traffic exposure. It also has high-speed fiberoptic internet, supporting modern business needs.
This configuration suits owner-users looking for both office workflow and on-site shop or storage capability, including contractor, supplier, service business, or trades company use. The building is described as a flexible Class B property with potential to add additional floor area above, giving a buyer room to grow. Overall, it presents a practical, utility-forward setup for businesses that need a dedicated office/warehouse combination with supporting site amenities.
Key Highlights
- Mixed‑use building with approx. 1,000 SF office and approx. 1,000 SF warehouse/shop
- 12' ceilings plus roll‑up door for warehouse/shop access
- On‑site parking for 8 vehicles
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
$25,258
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
3.37%
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%
$505,160
$505.2K
Cap Rate 7%
$360,829
$360.8K
Cap Rate 9%
$280,644
$280.6K
Market Conditions
NOI Build-Up for 2,056 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
$43.2K $21.00/SF
− Vacancy
−$9.5K −$4.62/SF
EGI
$33.7K $16.38/SF
− OpEx
−$8.4K −$4.10/SF
NOI
$25.3K $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 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%
$505,160
Cap Rate 7%
$360,829
Cap Rate 9%
$280,644
Alternative Uses
Best Use
Office B
$360.8K
$315.7K – $421.0K
NOI $25,258 @ 7.0% cap · market cap 3.37%
Second Best
Warehouse
$350.1K
$306.4K – $408.5K
NOI $24,510 @ 7.0% cap · market cap 3.27%
Theoretical Best
Specialty Retail
$558.3K
$488.5K – $651.3K
NOI $39,080 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
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
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 - Combination office and warehouse with 12' ceilings, roll-up door, and on-site parking for contractor or service operations.
Where is this flex space located?
The property is located at 805 Gambell Street Anchorage, AK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use building with approx. 1,000 SF office and approx. 1,000 SF warehouse/shop; 12' ceilings plus roll‑up door for warehouse/shop access; On‑site parking for 8 vehicles
