NW Professional Building
Midtown Office Building with Existing Income, Immediate Occupancy, & Lease-Up Potential
Marketing description
We are pleased to present the Northwest Professional Building, a bank-owned office investment and owner-user opportunity in the heart of Midtown Anchorage.
The property comprises approximately 21,944 square feet of office space in a three-story, elevator-served building on two parcels totaling approximately 0.45 acres. The building has been well maintained and features a functional layout with private offices, conference rooms, reception areas, and flexible workspace configurations suitable for a variety of professional users.
Currently approximately 29% occupied, the property offers substantial immediate occupancy for an owner-user while providing significant upside through future lease-up opportunities. Existing tenants provide supplemental income, while more than 14,000 square feet remains available for occupancy, expansion, or future leasing activity.
Ownership is negotiating a lease for Suite 301, comprising approximately 3,873 square feet. Upon execution, building occupancy would increase to approximately 48%, demonstrating continued tenant demand and near-term income growth potential.
Strategically located near Tudor Road and major transportation corridors, the property benefits from excellent visibility, convenient access, elevator service, ample on-site parking, and proximity to restaurants, retail services, hotels, and business amenities.
This is a rare opportunity to acquire a well-maintained, bank-owned office asset with immediate occupancy potential, existing cash flow, and significant value-add upside through continued leasing and operational stabilization.
The property consists of approximately 21,944 square feet of office space within a three-story elevator-served building situated on two parcels totaling approximately 0.45 acres. The building has been well maintained and features a functional office layout with private offices, conference rooms, reception areas, and flexible workspace configurations suitable for a variety of professional users.
Currently approximately 29% occupied, the property offers substantial immediate occupancy for an owner-user while providing significant upside through future lease-up opportunities. Existing tenants provide supplemental income, while more than 14,000 square feet remains available for occupancy, expansion, or future leasing activity.
Ownership is currently negotiating a lease for Suite 301, comprising approximately 3,873 square feet. Upon execution, building occupancy would increase to approximately 48%, demonstrating continued tenant demand and near-term income growth potential.
Strategically located near Tudor Road and major transportation corridors, the property benefits from excellent visibility, convenient access, elevator service, ample on-site parking, and proximity to restaurants, retail services, hotels, and business amenities.
This is a rare opportunity to acquire a well-maintained, bank-owned office asset with immediate occupancy potential, existing cash flow, and significant value-add upside through continued leasing and operational stabilization.
Investment highlights
• Bank-Owned Asset offering a rare opportunity to acquire a well-maintained office building in Midtown Anchorage.
• 21,944 SF office building on approximately 0.45 acres across two tax lots.
• Approximately 29% occupied, with an additional 3,873 SF suite under lease negotiations that would increase occupancy to approximately 48% upon lease execution.
• Significant immediate occupancy available for an owner-user seeking headquarters, expansion space, or departmental consolidation.
• Existing rental income from occupied suites, with substantial lease-up potential.
• Well-maintained office improvements, including private offices, conference rooms, reception areas, break areas, and flexible suite configurations.
• Elevator-served building with ADA accessibility and access to all floors.
• Approximately 60 on-site parking spaces.
• Excellent Midtown Anchorage location with convenient access to Tudor Road, Minnesota Drive, and major commercial corridors.
• I-1 Light Industrial zoning allowing a variety of office and business uses.
• Value-add opportunity through lease-up, repositioning, operational efficiencies, and rental rate growth.
• Sale includes two tax parcels, providing additional site flexibility and long-term value.
• 21,944 SF office building situated on approximately 0.45 acres across two tax lots.
• Approximately 29% occupied with an additional 3,873 SF suite currently under lease negotiations, which would increase occupancy to approximately 48% upon lease execution.
• Significant immediate occupancy available for an owner-user seeking headquarters, expansion space, or departmental consolidation.
• Existing rental income in place from occupied suites while providing substantial lease-up potential.
• Well-maintained office improvements including private offices, conference rooms, reception areas, break areas, and flexible suite configurations.
• Elevator-served building with ADA accessibility and access to all floors.
• Approximately 60 on-site parking spaces.
• Excellent Midtown Anchorage location with convenient access to Tudor Road, Minnesota Drive, and major commercial corridors.
• I-1 Light Industrial zoning allowing a variety of office and business uses.
• Value-add opportunity through lease-up, repositioning, operational efficiencies, and rental rate growth.
• Sale includes two tax parcels, providing additional site flexibility and long-term value.
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