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Property profile & analytics
OFF-MARKET
Estimated value
$1,465,000
Office buildings
1407 31st Ave Anchorage, AK 99503-3678
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US02-0063538
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1986
Total area
24,699 SF
Lot
0.66 ac (28,862 SF)
Zoning code
B3 GENERAL BUSINESS
APN
010-012-46-000
UPID
US02-0063538
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
-
Bliss Dental Inc Dental Office
-
Bruce N. Smith, PhD Physician Medical Clinic
-
Cynthia Bolivar MS LMFT Family Counselor
-
Mc Granahan Keith DDS Dental Office
-
Alta Air Logistics Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$980k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$1.47M
Owner & transaction history
Heritage Properties LLC · 1 yrs held
Heritage Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
B3 GENERAL BUSINESS · Anchorage, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+39.6%
Medical building
$2.0M
+16.4%
Apartment house (5+ units)
$1.9M
+7.9%
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
$980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,730,000
Current use
RESTAURANT
$2,415,000
Change: +40% · Conversion: Moderate
MEDICAL BUILDING
$2,015,000
Change: +16% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,870,000
Change: +8% · Conversion: Easy
RETAIL STORES
$1,600,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,505,000
Change: -13% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,390,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.61M · ±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
$59 / 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
$66,322
Tax year 2023
Assessed value
$3,894,400
Assessed 2023
Previous assessed
$3,894,400
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$439,300
Assessed improvement
$3,455,100
Land market value
$439,300
Improvement market value
$3,455,100
Total market value
$3,894,400
Applied tax rate
3.0000
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
1986
Heating
HOT WATER
Cooling
CENTRAL
Total area
24,699 SF
Lot
0.66 ac (28,862 SF)
Zoning code
B3 GENERAL BUSINESS
APN
010-012-46-000
UPID
US02-0063538
Jurisdiction
ANCHORAGE
Zoning & alternative use
B3 GENERAL BUSINESS · Anchorage, AK
Zoning B3 GENERAL BUSINESS · permitted uses
B3 GENERAL 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
$1.7M
RESTAURANT
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1986
Heating
HOT WATER
Cooling
Yes
Lot
0.66 ac
Current owner
From public records · entity-resolved
Heritage Properties LLC
Entity
Mailing address
12570 OLD SEWARD HWY, ANCHORAGE, AK 99515-3532
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2025
—
Heritage Properties LLC
Condor Properties LLC
Quitclaim Deed
related
$8,775,000 · First National Bank Alaska
Jan 21, 1999
—
Annie V Proctor
Comstock,campbells T
Quit Claim Deed
related
—
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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