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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office buildings
508 2nd Ave, Anchorage, AK 99501-2201
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US02-0075331
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1965
Construction
STEEL FRAME
Total area
14,147 SF
Lot
0.33 ac (14,164 SF)
Zoning code
B2C CENTRAL BUSINESS
APN
002-107-38-000
UPID
US02-0075331
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Jade Lady Meditation Alternative Medicine Practice Spiritual Center
-
Mary Ellen Meddleton Law Firm
-
Tindall Bennett & Shoup Law Firm
-
Jade Dragon Sanctuary, Ltd. Charitable Organization Social Service Agency
-
Skyline Alaska Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$886k
Blend (final)
Blend
$765k
Owner & transaction history
4csrp LLC · 1 yrs held
4csrp LLC
since 2025
7 recorded transactions
Zoning & alternative use
B2C CENTRAL BUSINESS · Anchorage, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+18.5%
Medical building
$1.2M
+18.1%
Apartment house (5+ units)
$1.1M
+10.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Anchorage submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anchorage submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$980,000
Current use
RESTAURANT
$1,160,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$1,155,000
Change: +18% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,080,000
Change: +11% · Conversion: Easy
RETAIL STORES
$1,010,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$960,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$54 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$31,463
Tax year 2023
Assessed value
$1,745,700
Assessed 2023
Previous assessed
$1,745,700
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$486,300
Assessed improvement
$1,259,400
Land market value
$486,300
Improvement market value
$1,259,400
Total market value
$1,745,700
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Stories
3
Total area
14,147 SF
Lot
0.33 ac (14,164 SF)
Zoning code
B2C CENTRAL BUSINESS
APN
002-107-38-000
UPID
US02-0075331
Jurisdiction
ANCHORAGE
Zoning & alternative use
B2C CENTRAL BUSINESS · Anchorage, AK
Zoning B2C CENTRAL BUSINESS · permitted uses
B2C CENTRAL BUSINESS · Anchorage, AK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Anchorage. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$980,000
RESTAURANT
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$960,000
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.33 ac
Current owner
From public records · entity-resolved
4csrp LLC
Entity
Mailing address
1819 E SOUTHERN AVE STE B10, MESA, AZ 85204-5219
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2025
—
4csrp LLC
Bcif Holdings I LLC
Warranty Deed
$2,482,500 · Northrim Bank
May 11, 2023
$3,326,501
Bcif Holdings I LLC
Memovi Law Group
Deed
—
Dec 30, 2022
—
Bcif Trs LLC
Syline LLC
Deed In Lieu Of Foreclosure
related
—
Sep 16, 2019
—
Edward M Brown
—
Deed
related
$258,000 · Anthony C Turinsky
Sep 4, 2019
—
Skyline LLC
—
Deed
related
$2,600,000 · Green Rock II LLC
Oct 24, 2005
—
Skyline LLC
K2b Ptshp
Quit Claim Deed
related
$1,792,500 · First National Bank Alaska
—
—
Skyline LLC
—
Deed Of Trust
related
$2,600,000 · Green Rock II LLC
—
—
Edward M Brown
—
Deed Of Trust
related
$258,000 · Anthony C Turinsky
—
—
Skyline LLC
—
Deed Of Trust
related
—
—
—
Skyline LLC
—
Deed Of Trust
related
$2,100,000 · First National Bank Alaska
—
—
Skyline LLC
—
Deed Of Trust
related
$100,000 · Hershner Hunter LLP
—
—
Skyline LLC
—
Deed Of Trust
related
$216,812 · First National Bank Alaska
—
—
Skyline LLC
—
Deed Of Trust
related
$119,264 · Swalling & Associates PC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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