Triplex With Oversized
For Sale
$945,000
8921 Toloff St, Anchorage, AK 99507
Three rental units include a dedicated workshop, fenced yard, and deck.
Property Size2,949 SF
Price / SF$320.45
Days on Market37
Property Features for 8921 Toloff St
General Information
Standard status
Active
Size
2,949 SF
Property subtype
Residential Income
Listing Agency:
Globe Real Estate, LLC
(907) 244-1970
Listed By:
Eric Dye · License #17044
(907) 244-1970
Source:
Exprealty
Added: Jul 7
Changed: Aug 9
Last Checked: Aug 11 at 12:23PM
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 Globe Real Estate, LLC
Investment Insights
Based on property information with market context.
This South Anchorage triplex contains 2,949 square feet of living space across three units: a three-bedroom, two-bath residence, a two-bedroom, one-bath unit, and a one-bedroom, 1.5-bath apartment positioned above the garage. The property also includes an approximately 1,400-square-foot garage and shop with 16-foot ceilings, drive-through doors, and approximately 650 square feet of office or living space above. Interior finishes include concrete countertops, luxury laminate flooring, and Samsung stainless steel appliances. A fenced backyard and large deck add outdoor space. Located near Abbott Road and Fred Meyer, the property is at 8921 Toloff St in Anchorage, Alaska.
Key Highlights
- Three‑unit configuration with 3‑bed/2‑bath, 2‑bed/1‑bath, and 1‑bed/1.5‑bath layouts
- Approximately 1,400+ sq. ft. garage/shop with 16 ft. ceilings
- Garage/shop has drive‑through doors and approximately 650 sq. ft. of office/living space above
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
$43,307
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
4.58%
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%
$866,140
$866.1K
Cap Rate 7%
$618,671
$618.7K
Cap Rate 9%
$481,189
$481.2K
Market Conditions
NOI Build-Up for 2,949 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
$65.5K $22.20/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$61.9K $20.98/SF
− OpEx
−$18.6K −$6.29/SF
NOI
$43.3K $14.69/SF
Area
Anchorage, AK
Vacancy
5.50%
Lease Rate
$22.20 /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%
$866,140
Cap Rate 7%
$618,671
Cap Rate 9%
$481,189
Alternative Uses
Best Use
Multifamily LT 5
$618.7K
$541.3K – $721.8K
NOI $43,307 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$800.8K
$700.7K – $934.3K
NOI $56,055 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99507, AK
38,199
Population
14,552
Households
2.6
Avg Household Size
36
Median Age
38%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
808
Density / Sq Mi
$107,347
Median Household Income
$55,197
Median Earnings
$1,546
Median Rent
$371,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental units include a dedicated workshop, fenced yard, and deck.
Where is this triplex located?
The property is located at 8921 Toloff St Anchorage, AK.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Three‑unit configuration with 3‑bed/2‑bath, 2‑bed/1‑bath, and 1‑bed/1.5‑bath layouts; Approximately 1,400+ sq. ft. garage/shop with 16 ft. ceilings; Garage/shop has drive‑through doors and approximately 650 sq. ft. of office/living space above
