201 3Rd AveAnchorage, AK 99501

Property Details for 201 3Rd Ave

Year built

1973

Lot size

0.56 AC

Property size (Sq ft)

14,980 SF

Zone code

B2C CENTRAL BUSINESS

Property type

Office buildings

APN

002-084-60-000

APU

208460000

Description

This exceptional three-story executive office building, located at 201 E 3rd Ave in Anchorage, Alaska, presents a unique investment opportunity. Boasting 14,980 square feet of well-maintained space, this property is situated on a 0.56-acre lot and features ample parking with 56 on-site spaces supplemented by street parking. Built in 1973 and extensively renovated in 2023, the building includes desirable amenities such as a large boardroom, a full kitchen, an elevator (with two stairwells for added convenience), and a comprehensive security system. The building is zoned B2C, making it suitable for a variety of uses. The elevator underwent a complete rebuild in May 2023, representing a $53,000 investment. The property is ideal for a single large tenant or can easily accommodate multiple occupants. A portion of the building is currently owner-occupied, and the owner may consider a lease-back arrangement. This presents a rare chance to acquire a well-maintained, high-quality office building in a desirable Anchorage location. The asking price is $2,375,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,040,627

  6.5%

  $3,729,810

  7%

  $3,463,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,553,520

  Geo Method

  $2,884,848

• Alternative Use

  Use

  Valuation

  Residential

  $4,624,964

  Hospitality

  $4,236,442

  Educational

  $3,524,670

  Medical

  $3,645,889

  Retail

  $5,482,820

Location Insight

City

Anchorage

County

Anchorage

State

Alaska

Latitude

61.2198

Longitude

-149.881

CBSA code

11260

CBSA name

ANCHORAGE, AK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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