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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Warehouses
2120 Spar Ave Anchorage, AK 99501-1854
Entity Owned
6-yr Hold
Free & Clear
Property ID
US02-0088072
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
STEEL FRAME
Total area
15,652 SF
Lot
2.32 ac (101,059 SF)
Zoning code
I2 HEAVY INDUSTRIAL
APN
003-051-42-000
UPID
US02-0088072
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
-
Puget Sound Pipe & Supply Factory Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$999k
Blend (final)
Blend
$745k
Owner & transaction history
S & L Investments · 6 yrs held
S & L Investments
since 2019
5 recorded transactions
Zoning & alternative use
I2 HEAVY INDUSTRIAL · Anchorage, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.2M
+59.1%
Retail stores
$1.1M
+48.5%
Office building
$1.1M
+43.9%
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
$495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$750,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,195,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$1,115,000
Change: +48% · Conversion: Moderate
OFFICE BUILDING
$1,080,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,060,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$48 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$41,549
Tax year 2024
Assessed value
$2,573,500
Assessed 2024
Previous assessed
$2,519,500
+2.1% YoY
Effective rate
1.61%
On assessed value
Assessed land
$915,600
Assessed improvement
$1,657,900
Land market value
$915,600
Improvement market value
$1,657,900
Total market value
$2,573,500
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
YES
Cooling
NONE
Stories
1
Total area
15,652 SF
Lot
2.32 ac (101,059 SF)
Zoning code
I2 HEAVY INDUSTRIAL
APN
003-051-42-000
UPID
US02-0088072
Jurisdiction
ANCHORAGE
Zoning & alternative use
I2 HEAVY INDUSTRIAL · Anchorage, AK
Zoning I2 HEAVY INDUSTRIAL · permitted uses
I2 HEAVY INDUSTRIAL · 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
WAREHOUSE, STORAGE Current
Est. value
$750,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE BUILDING
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
1996
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
2.32 ac
Current owner
From public records · entity-resolved
S & L Investments
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 97010, KENT, WA 98064-9710
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2019
—
S & L Investments
—
Deed
related
—
Jun 28, 2006
—
S Investments
—
Trustees Deed
related
$1,200,000 · First National Bank Alaska
—
—
S & L Investments
—
Loan Modification
related
—
—
—
S Investments
—
Deed Of Trust
related
—
—
—
S & L Investments
—
Loan Modification
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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