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Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Garden apartment buildings
351 Hightower Rd Girdwood, AK 99587
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US02-0064500
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2001
Construction
WOOD FRAME
Total area
26,222 SF
Lot
1.42 ac (61,855 SF)
Zoning code
GC6
APN
075-031-38-000
UPID
US02-0064500
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$945k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$1.31M
Owner & transaction history
Creekside LP · 25 yrs held
Creekside LP
since 2001
1 recorded transaction
Zoning & alternative use
GC6 · Girdwood, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+2.6%
Auto repair, garage
$2.0M
+0.0%
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 Girdwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Girdwood 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
$945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,975,000
Current use
OFFICE BUILDING
$2,025,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,975,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$1,925,000
Change: -2% · Conversion: Moderate
RETAIL STORES
$1,690,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±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
$50 / 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
$22,476
Tax year 2023
Assessed value
$1,789,500
Assessed 2023
Previous assessed
$1,789,500
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$200,000
Assessed improvement
$1,589,500
Land market value
$200,000
Improvement market value
$1,589,500
Total market value
$1,789,500
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2001
Construction
WOOD FRAME
Heating
HOT WATER
Cooling
NONE
Stories
3
Units
30
Total area
26,222 SF
Lot
1.42 ac (61,855 SF)
Zoning code
GC6
APN
075-031-38-000
UPID
US02-0064500
Jurisdiction
ANCHORAGE
Zoning & alternative use
GC6 · Girdwood, AK
Zoning GC6 · permitted uses
GC6 · Girdwood, AK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Girdwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2001
Construction
WOOD FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
30
Lot
1.42 ac
Current owner
From public records · entity-resolved
Creekside LP
Entity
Mailing address
4481 N DRESDEN PL, GARDEN CITY, ID 83714-1379
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2001
—
Creekside LP
—
Trustees Deed
related
$1,430,000 · Northrim Bank
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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