Anchorage Office Building For
375 W 36th Ave, Anchorage, AK 99503
Three-story office building with income and owner-user potential.
Type:Office
Property size:
19,333 SFPrice / SF:
$170/SF- Added:
- Dec 21, 2023
- Days on Market:
- 894
- Last Refresh:
- May 13 at 8:17 pm
Property Features for 375 W 36th Ave
General Information
- Standard status
- Active
- Size
- 19,333 SF
- Property subtype
- Office
Building Details
- Year Built
- 1974
Listing agent Carl D. Kuhn License #AK
Listing office Jack White Commercial
Listing date Dec 21, 2023
Source Crexi
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 Jack White Commercial
HighLights
- Owner/user opportunity to occupy 5,076 RSF on the second floor.
- Income potential from existing tenants (Progressive Insurance and Nordic Calista).
- Excellent access, ample parking, and great signage on 36th Avenue.
- Convenient location within walking distance to restaurants, retail shops, banks, and hotels.
- Owner financing available (OAC).
- Three‑story office building.
Overview
This three-story office building presents an opportunity for owner-users with existing income. The owner has the option to occupy 5,076 rentable square feet on the second floor. The first floor is occupied by Progressive Insurance, and Nordic Calista occupies the third floor. The property features convenient access, ample parking, and signage options on 36th Avenue. Its location provides walking distance access to restaurants, retail shops, banks, and hotels. The property has a total size of 19,333 square feet.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $406.0k | $21.00 |
| − Vacancy | −$89.3k | −$4.62 |
| EGI | $316.7k | $16.38 |
| − OpEx | −$79.2k | −$4.10 |
| NOI | $237.5k | $12.29 |
19,333 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.39M
$2.97M – $3.96M
NOI $237,506 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.25M
$4.59M – $6.12M
NOI $367,482 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Progressive Insurance - Claims ...
Insurance Agency
ASEA Legal Services
Law Firm
Alaska Laborers Trust ...
Insurance Agency
Southern Alaska Carpenters
Advocacy Group
Alaska Hotel, Restaurant ...
Hotel & Motel
Map
- City
- Anchorage
- County
- Anchorage
- State
- Alaska
- Longitude
- -149.8892792
- Latitude
- 61.1882055
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Three-story office building with income and owner-user potential.
Where is this office building located?
The property is located at 375 W 36th Ave Anchorage, AK.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Owner/user opportunity to occupy 5,076 RSF on the second floor.; Income potential from existing tenants (Progressive Insurance and Nordic Calista).; **Excellent access, ample parking, and great signage on 36th Avenue.**
