Austad-bygget is a mixed usage commercial building situated in Tromsø’s city centre not far from the seafront covering a major part of the quarter Fredrik Langes gate, Sjøgata and Killengrensgate. The main facade faces Sjøgata and the city centre. This area at the front is also called Smørtorget. The neighbourhood is dominated by hotels and other commercial buildings, in scale similar to Austad-bygget, and together they make a strong contrast to the few remaining original wooden buildings in the vicinity.

Austad-bygget has a strong character and is a modernist building composed with a horizontal emphasis to underline its shape and size.