Retail Building with Adjacent
For Sale
$675,000
Pending
901 & 911 E 5th Avenue Anchorage, Anchorage, AK 99501
For-sale B-3 zoned parcel combining a storefront building with an adjacent lot for commercial use or redevelopment.
Property Size3,084 SF
Days on Market55
Property Features for 901 & 911 E 5th Avenue Anchorage
General Information
Standard status
Pending
Size
3,084 SF
Zoning
B3
Building Details
Building Size
3,084 SF
Year Built
1956
Stories
1
Listing Agency:
Herrington and Company, LLC
(907) 263-9333
Listed By:
Tarra Quisenberry · License #16644
(907) 263-9333
Source:
Herringtonlifestyleandliving
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 22 at 3:34AM
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 Herrington and Company, LLC
Investment Insights
Based on property information with market context.
This for-sale property combines a storefront building at 901 E 5th Ave with an adjacent lot at 911 E 5th Ave, giving one owner control of both the improved space and the neighboring site. The offering is positioned as a downtown retail property with additional land, creating flexibility for future planning while maintaining an existing building presence.
The site is described as having excellent visibility, strong traffic counts, and easy access, supporting straightforward customer-facing retail uses. The property is located in downtown Anchorage, and it is presented with B-3 zoning, which the seller notes allows a variety of commercial and redevelopment opportunities.
For buyers and tenants evaluating flexible downtown space, the mix of a storefront building plus an adjacent lot can be useful when you want options beyond a single-structure site. The B-3 zoning framework supports a range of commercial directions and potential redevelopment scenarios, while the existing building provides an operating footprint for businesses that can utilize a storefront configuration.
The site is described as having excellent visibility, strong traffic counts, and easy access, supporting straightforward customer-facing retail uses. The property is located in downtown Anchorage, and it is presented with B-3 zoning, which the seller notes allows a variety of commercial and redevelopment opportunities.
For buyers and tenants evaluating flexible downtown space, the mix of a storefront building plus an adjacent lot can be useful when you want options beyond a single-structure site. The B-3 zoning framework supports a range of commercial directions and potential redevelopment scenarios, while the existing building provides an operating footprint for businesses that can utilize a storefront configuration.
Key Highlights
- B‑3 zoned commercial property in downtown Anchorage
- Includes building at 901 E 5th Ave with adjacent lot at 911 E 5th Ave
- Year built: 1956
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
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 B-3 zoned parcel combining a storefront building with an adjacent lot for commercial use or redevelopment.
Where is this storefront property located?
The property is located at 901 & 911 E 5th Avenue Anchorage 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: B‑3 zoned commercial property in downtown Anchorage; Includes building at 901 E 5th Ave with adjacent lot at 911 E 5th Ave; Year built: 1956
