Two-Story Medical Office
For Sale
$6,250,000
9138 Arlon Street, Anchorage, AK 99507
Fully leased, 100% occupied two-story multi-tenant building with a mix of medical, professional and retail uses.
Property Size16,280 SF
Price / SF$383.91
Days on Market96
Property Features for 9138 Arlon Street
General Information
Standard status
Active
Size
16,280 SF
Property subtype
General Commercial
Zoning
B-3SL
Occupancy
100%
Amenities
3
58 Parking Spaces.
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Listed By:
Chambers Real Estate Services
(907) 565-5665
Source:
Xome
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 2 at 3:26PM
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 Chambers Real Estate Services
Investment Insights
Based on property information with market context.
This fully leased, two-story multi-tenant building offers 100% occupancy with a diversified mix of medical, professional office, and retail tenants. The tenant roster includes dental practices and other professional offices, as well as retail use including tanning. The property is presented as turnkey.
Located at 9138 Arlon Street in Anchorage’s Abbott Loop submarket, the building provides excellent visibility and access in proximity to major anchors, supporting day-to-day customer and tenant traffic.
Zoned B-3SL, the property’s current configuration supports ongoing occupancy with proven tenant retention, providing a stable income profile.
Located at 9138 Arlon Street in Anchorage’s Abbott Loop submarket, the building provides excellent visibility and access in proximity to major anchors, supporting day-to-day customer and tenant traffic.
Zoned B-3SL, the property’s current configuration supports ongoing occupancy with proven tenant retention, providing a stable income profile.
Key Highlights
- Fully leased, 100% occupied two‑story multi‑tenant office building totaling 115,197 SF
- Tenant mix includes dental practices, professional offices, and retail (including tanning)
- Anchorage Abbott Loop submarket location
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
$210,989
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
3.38%
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%
$4,219,780
$4.2M
Cap Rate 7%
$3,014,129
$3.0M
Cap Rate 9%
$2,344,322
$2.3M
Market Conditions
NOI Build-Up for 16,280 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
$390.7K $24.00/SF
− Vacancy
−$39.1K −$2.40/SF
EGI
$351.6K $21.60/SF
− OpEx
−$140.7K −$8.64/SF
NOI
$211.0K $12.96/SF
Area
Anchorage, AK
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$4,219,780
Cap Rate 7%
$3,014,129
Cap Rate 9%
$2,344,322
Alternative Uses
Best Use
Healthcare Medical
$3.01M
$2.64M – $3.52M
NOI $210,989 @ 7.0% cap · market cap 3.38%
Second Best
Office B
$2.86M
$2.50M – $3.33M
NOI $200,000 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$4.42M
$3.87M – $5.16M
NOI $309,450 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased, 100% occupied two-story multi-tenant building with a mix of medical, professional and retail uses.
Where is this office building located?
The property is located at 9138 Arlon Street Anchorage, AK.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Fully leased, 100% occupied two‑story multi‑tenant office building totaling 115,197 SF; Tenant mix includes dental practices, professional offices, and retail (including tanning); Anchorage Abbott Loop submarket location
