$725,000
$725,000
For more information regarding the value of a property, please contact us for a free consultation.
4,792 SqFt
SOLD DATE : 10/31/2024
Key Details
Sold Price $725,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 4,792 sqft
Price per Sqft $151
MLS Listing ID 24-6610
Sold Date 10/31/24
Construction Status Existing Structure
Originating Board Alaska Multiple Listing Service
Year Built 1978
Annual Tax Amount $6,340
Lot Size 0.480 Acres
Acres 0.48
Property Description
Excellent investment with prime location on road leading to the iconic Homer Spit! Upper floor is fully leased and the Seller will lease back the entire lower floor for a minimum of 6 months. Building is in great condition. Property consists of 2 lots, one lot providing additional parking and access to the lower unit exterior entrance. There is an interior stairwell to access both floors as well A recent bank desktop appraisal of current market value was $979,345 (See Documents). The Sellers are highly motivated since they have purchased another property on the Homer Spit to be closer to the harbor.
The building is currently fully leased and the Sellers, who occupy the lower level, will lease back after closing for a minimum of 6 months or more depending on remodel completion at their new location.
The upper floor has a great layout with a common entry and then two large office units off to the left and right. Each leased office space upstairs is approximately 1100 square feet.
Cook Inlet Counseling occupies the left side, and they are long term tenants in the building. Their area has a number of office units, private bathroom, kitchen nook and a small conference area.
Destination Alaska Adventures is a new Lessee for the right unit. This unit is mostly open space, with a little kitchen nook, private restroom and a conference room. They have a one year lease in place that expires May 31, 2025.
The building has been impeccably maintained and earned an "excellent" condition rating from their Lender. There is even a sprinkler fire system in place which will also help lower your insurance costs.
There is plenty on onsite parking and the "extra" lot also provides exterior access and additional parking for the lower level.
if you want a super clean, well located, fully leased investment with solid rental history, then this is an opportunity you will not want to pass up!
Location
State AK
Area 490 - Homer
Zoning GC1 - General Commercial
Direction Ocean Dr on the way to the Homer Spit. Property on left next to laundromat
Interior
Heating Natural Gas
Flooring Heavy Duty, Carpet
Exterior
Water Access Desc Public
View Lake
Roof Type Asphalt
Accessibility , Paved, Government, Maintained
Building
Foundation Block
Lot Size Range 0.48
Water Public
New Construction No
Construction Status Existing Structure
Others
Tax ID 17917218&17917219
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Copyright 2024 Alaska Multiple Listing Service, Inc. All rights reserved
Bought with Story Real Estate
cinkota@allsolutionsrealestate.com
4300 B Street, Suite 106A, Anchorage, AK, 99503, United States