Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    237 3rd Ave Anchorage, AK 99501-2532

    • Garden apartment buildings
    • 4,788 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US02-0282978
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 237 3rd Ave

    Year built
    1962
    Lot size
    0.16 lot acres
    Property size
    4,788 SF
    Zone code
    B2C CENTRAL BUSINESS
    Property type
    Garden apartment buildings
    APN
    002-084-84-000
    APU
    208484000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Anchorage
    County
    Anchorage
    State
    Alaska
    Longitude
    -149.88
    Latitude
    61.2198
    CBSA code
    11260
    CBSA name
    ANCHORAGE, AK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,803
    $138,400
    $378,500
    $516,900
    -
    $138,400
    $378,500
    $516,900

    Comparable in this City

    • Value Estimation
      $990,000
      12,552 SF

      1015 Beech Ln

      GARDEN APT, COURT APT (5+ UNITS) • 12,552 SF
      1015 Beech Ln, Anchorage, AK 99501-6017
      View Details
    • Value Estimation
      $3,855,000
      93,976 SF

      1601 Medfra St

      GARDEN APT, COURT APT (5+ UNITS) • 93,976 SF
      1601 Medfra St, Anchorage, AK 99501-5571
      View Details
    • Value Estimation
      $4,150,000
      108,155 SF

      201 16th Ave

      GARDEN APT, COURT APT (5+ UNITS) • 108,155 SF
      201 16th Ave, Anchorage, AK 99501-5265
      View Details
    • Value Estimation
      $1,600,000
      32,259 SF

      726 O Pl

      GARDEN APT, COURT APT (5+ UNITS) • 32,259 SF
      726 O Pl, Anchorage, AK 99501-6009
      View Details
    • Value Estimation
      $2,600,000
      57,302 SF

      801 Karluk St

      GARDEN APT, COURT APT (5+ UNITS) • 57,302 SF
      801 Karluk St, Anchorage, AK 99501-3952
      View Details
    • Value Estimation by Request
      6,475 SF

      1515 Nelchina St

      GARDEN APT, COURT APT (5+ UNITS) • 6,475 SF
      1515 Nelchina St, Anchorage, AK 99501-5553
      View Details

    Similar Nearby for Sale

    • $990,000
      3,924 SF

      Turn-Key Multi-Family Home

      Centrally located duplex with potential for a third unit.
      827 W 20Th Ave, Anchorage, AK 99501
      View Details
    • $2,200,000
      7,188 SF

      Downtown Anchorage Commercial Property

      Prime Location, Huge Potential, 7188 SF
      626 D St, Anchorage, AK 99501
      View Details
    • $500,000
      2,160 SF

      Anchorage Commercial Condo Office

      Downtown Anchorage, 2160 sq ft office condo
      880 N St, Anchorage, AK 99501
      View Details
    • $1,500,000
      22,186 SF

      Anchorage Warehouse with Existing Lease

      Anchorage warehouse for sale with existing tenant and income.
      1716 Post Rd, Anchorage, AK 99501
      View Details
    • $1,100,000

      Office Building For Sale

      Office building suitable for small companies looking to own.
      241 N C St, Anchorage, AK 99501
      View Details
    • $485,000

      Commercial Condo with Basement Storage

      Office condo with six offices, conference room, and basement storage.
      880 N St, Anchorage, AK 99501
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr

      Downtown Anchorage Office Sublease

      6,533 SF office space for sublease in downtown Anchorage.
      1029 W 3Rd Ave, Anchorage, AK 99501
      View Details
    • $2 SF/Yr

      Retail Space Near Glenn Highway

      Newer shopping center with strong co-tenancy near Glenn Highway.
      3074 Mountain View Dr, Anchorage, AK 99501
      View Details
    • $2 SF/Yr

      Retail Space Near Glenn Highway

      Shopping center space available near Glenn Highway and busy intersection.
      3048 Mountain View Dr, Anchorage, AK 99501
      View Details
    • $1.95 SF/Yr

      Remodeled Office Space Downtown

      Modernized office space for lease in a convenient downtown location.
      431 W 7Th Ave, Anchorage, AK 99501
      View Details
    • $1.65 SF/Yr

      Anchorage Office Space For Lease

      Office suites available for lease in midtown Anchorage.
      203 W 15Th Ave, Anchorage, AK 99501
      View Details
    • $1.95 SF/Yr

      Remodeled Office Space For Rent

      Modern office space with updated common areas and convenient location.
      431 W 7Th Ave, Anchorage, AK 99501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    237 3rd Ave
    Anchorage, AK 99501-2532
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.