B-3 Zoned Retail Building and
For Sale
$675,000
Pending
901 & 911 E 5th Avenue, Anchorage, AK 99501
COMMERCIAL - Anchorage, AK
Property Size3,084 SF
Lot Size0.31 Acres
Days on Market174
Property Features for 901 & 911 E 5th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3 - General Business
Directions
Head east on 5th Ave past Gambell St. Red building located on the right at 901 E 5th Ave
Subdivision
1A - Anchorage Municipality
Standard status
Pending
APN
0030723100001
Size
3,084 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
East Addition L7-8 B27D
Legal Description
East Addition L7-8 B27D
Building Details
Year built
1956
Floors in Building
1
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Lisa Yi · License #169328
(907) 231-1454
Added: Feb 18
Changed: Aug 4
Last Checked: Aug 11 at 9:06PM
MLS# 26-1569
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.
This for-sale commercial property includes a retail building at 901 E 5th Ave along with a lot at 911 E 5th Ave. Total building size is 3,084 square feet, set on a 0.31-acre lot. The property is presented under B-3 general business zoning.
Public remarks describe the asset as being located in downtown Anchorage with excellent visibility, strong traffic counts, and easy access.
With both a building and an additional lot included, the site offers flexibility for prospective buyers interested in a retail-focused redevelopment or continued commercial use under B-3 zoning.
Public remarks describe the asset as being located in downtown Anchorage with excellent visibility, strong traffic counts, and easy access.
With both a building and an additional lot included, the site offers flexibility for prospective buyers interested in a retail-focused redevelopment or continued commercial use under B-3 zoning.
Key Highlights
- Commercial property in downtown Anchorage includes building at 901 E 5th Ave and lot at 911 E 5th Ave
- Building year built: 1956
- B‑3 zoning allows a variety of commercial and redevelopment opportunities
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
$51,954
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
7.70%
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%
$1,039,080
$1.0M
Cap Rate 7%
$742,200
$742.2K
Cap Rate 9%
$577,267
$577.3K
Market Conditions
NOI Build-Up for 3,084 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
$77.7K $25.20/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$74.2K $24.07/SF
− OpEx
−$22.3K −$7.22/SF
NOI
$52.0K $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%
$1,039,080
Cap Rate 7%
$742,200
Cap Rate 9%
$577,267
Alternative Uses
Best Use
Retail
$742.2K
$649.4K – $865.9K
NOI $51,954 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$837.4K
$732.8K – $977.0K
NOI $58,621 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail property featuring a building and adjacent lot with B-3 general business zoning and downtown access.
Where is this storefront property located?
The property is located at 901 & 911 E 5th Avenue Anchorage, AK.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Commercial property in downtown Anchorage includes building at 901 E 5th Ave and lot at 911 E 5th Ave; Building year built: 1956; B‑3 zoning allows a variety of commercial and redevelopment opportunities
