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$1,245,000
26-7331 MLS
Located at 637 3rd Avenue in downtown Anchorage, this distinctive property offers exceptional flexibility for investors, owner-users, or developers. Currently operating as a professional law office. Located in a highly desirable downtown location overlooking Cook Inlet, the property enjoys convenient access to restaurants, hotels, shopping, the Tony Knowles Coastal Trail, and the Port of Anchorage The property's highest and best use may be as a six-room boutique short-term rental (Airbnb or executive lodging). Its downtown location, scenic inlet views, and proximity to Anchorage's business district and visitor attractions make it well-positioned to attract both business travelers and tourists. A thoughtfully designed conversion could create a unique hospitality property offering: " Six private guest rooms " Shared gathering and dining areas " Premium nightly rental rates " Multiple income streams from year-round tourism, business travel, cruise passengers, and seasonal visitors With Anchorage's limited inventory of distinctive boutique accommodations, this property presents an opportunity to capitalize on the growing demand for high-quality short-term lodging while preserving the flexibility for office or residential use. Whether maintained as professional office space or repositioned as a boutique hospitality investment, 637 3rd Avenue represents a rare opportunity to own a highly adaptable property in one of Anchorage's most desirable downtown locations.

637 W 3rd Avenue, Anchorage

Listing Office Real Broker Alaska

$699,000
26-6702 MLS
Rare owner-user opportunity in Downtown Anchorage. Versatile mixed-use commercial building with approx. 1,000 SF office plus 1,000 SF warehouse/shop, 12' ceilings, roll-up door, private restroom, and on-site parking. Ideal for a contractor, supplier, service business, or trades company needing office, shop, and storage space. High-visibility corner lot with strong traffic exposure and easy access. Property includes 8 parking spaces, floor drain, oil separator, high-speed fiberoptic internet, and a furnace replaced within the last 4 years. Flexible Class B building with potential to add additional floor area above, giving a buyer room to grow. A rare setup offering visibility, utility, and long-term value for a small business owner.

805 Gambell Street, Anchorage

Listing Office Figure 9 Real Estate LLC

$1,425,000
26-2699 MLS Ginger / Vacant (Previous TJs Shirts) BLDG.
Rare downtown Anchorage investment directly across West 5th Avenue from the 5th Avenue Mall. Two attached buildings, 10,929 SF on 9,750 SF of B-2A land. 425 W 5th (±5,979 SF) is home to Ginger, an Anchorage dining institution since 2006; 423 W 5th (±4,950 SF) is vacant with immediate lease-up upside. Roof and HVAC replaced, no parking requirement. Under 7% in place, 12%+ stabilized pro-forma 423 & 425 West 5th Avenue. Two attached concrete-block buildings joined by a common rear hallway, with 75 feet of West 5th Avenue frontage and rear alley access on 9,750 SF (0.22 AC). Zoned B-2A, Central Business District Core; no on-site parking required. Built in the 1950s, with the Ginger space extensively renovated in 2006 and 2010. Roof and HVAC systems have been replaced. ANCHOR: Ginger has operated at 425 W 5th since 2006, serving Pacific Rim cuisine from a purpose-built restaurant, bar and private dining room. Rated 4.4 stars across 658 TripAdvisor reviews, ranked #7 of 665 Anchorage restaurants, and a Travelers' Choice award winner. Tenant-funded build-out includes a full commercial kitchen. UPSIDE: 423 W 5th (±4,950 SF) is vacant with excellent storefront visibility and an open floor plan, suited to lease-up or owner occupancy. Modest capital improvements and a lease at a conservative downtown rate take the stabilized return above 12%. LOCATION: Directly opposite the Simon 5th Avenue Mall and JCPenney, with Club Paris next door and the Egan Center, Dena'ina Center, Performing Arts Center, Town Square, Anchorage Museum and downtown hotel cluster within two blocks. Approximately 10,000 vehicles per day on West 5th Avenue. Offering memorandum, lease, expense history and stabilized underwriting available to qualified buyers under a confidentiality agreement. Please do not contact or disturb the tenant.

423 W 5th Avenue & 425, Anchorage

Listing Office Jack White Commercial

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The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than Fiorelli Real Estate are marked with either the listing brokerage’s logo or the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Listing last updated: