4200 Lake Otis Pkwy, Anchorage, AK 99508
30,732 SF | 93% Leased | Office Building | Anchorage, AK 99508 | $5,950,000 ($194/SF) | 8% Cap Rate
For Sale
Active
19 pictures
Asking Price $5,950,000
- Property Type
-
Office
- Square Feet
- 30,732 SF
- Price / Square Foot
- $194
Listing Contacts
Hugh Wade
Ryan Schwalbe
- Property Info
Property Overview
This is a turn-key, performing medical office building in Anchorage, Alaska, with little to no deferred maintenance. This property is in the University Medical Area (UMED), which is the destination for anything and everything medical in Anchorage and the state of Alaska as a whole.
The property has been professionally managed since it was purchased in 2012 with major capital expenditures in that time, including all tenant units (third floor unit w/ $250k of tenant improvements in 2023) renovated to suit.
In the last five years:
The canopy and front entrance were overhauled in the summer of 2022 to the tune of $250,000.
New elevator systems and motor.
Upgraded HVAC system.
Upgraded lighting.
Renovated common area bathrooms.
and more!
Cell towers located on the building's roof, combined with long-term leases with two telecommunications companies, provide additional revenue.
Ample basement storage is available for all of the building's tenants and accessible by elevator. The basement also features an owner's/on-site manager's office with a kitchenette and full bathroom!
Varying tenant lease expirations provide an opportunity for the investor and owner-operator alike.
Currently offered at an eight cap, there is a lot to like! Call today to learn more and set up a basement-to-roof walkthrough.
The property has been professionally managed since it was purchased in 2012 with major capital expenditures in that time, including all tenant units (third floor unit w/ $250k of tenant improvements in 2023) renovated to suit.
In the last five years:
The canopy and front entrance were overhauled in the summer of 2022 to the tune of $250,000.
New elevator systems and motor.
Upgraded HVAC system.
Upgraded lighting.
Renovated common area bathrooms.
and more!
Cell towers located on the building's roof, combined with long-term leases with two telecommunications companies, provide additional revenue.
Ample basement storage is available for all of the building's tenants and accessible by elevator. The basement also features an owner's/on-site manager's office with a kitchenette and full bathroom!
Varying tenant lease expirations provide an opportunity for the investor and owner-operator alike.
Currently offered at an eight cap, there is a lot to like! Call today to learn more and set up a basement-to-roof walkthrough.
Property Details
- Class
- B
- Year Built/Renovated
- 1984/1997
- Stories
- 3
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 41,818 SF
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].