1230 Ocean Drive, Homer, AK 99603

$725,000
Property Type: Commercial Sale Square Footage: 4,792 Lot Size (sq. ft.): 20,909 Status: Closed
Current Price: $725,000 Last Modified: 11/01/2024

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

Supplements: 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!

More Information MLS# 24-6610

Contract Info

Price-List: 725000 Date-Listing: 2024-06-03 Status: Closed Foreclosure/Bank Own: No

Sold Info

Date-Pending: 2024-10-06 Date-Closing: 2024-10-31

Location Tax and Legal

Area: 490 - Homer Street #: 1230 Street Name: Ocean Arterial: Drive Closest USPS Town: Homer State: AK Zip Code: 99603

Property Info

Type of Property: Single Use Building Type: Class B Realtor.com Type: Commercial Construction Status: Existing Structure Building Status: Leased % of Space Leased: 100 Acres: 0.48 SF-Lot: 20908.8 Lot Area Source: Tax Authority SF-Res: 4792 Floors: 2 Zoning: GC1 - General Commercial 1 Year Built: 1978

Directions and Remarks

Directions: Ocean Dr on the way to the Homer Spit. Property on left next to laundromat

Office

Office Apx SF: 4792

Property Features

Primary Space: Office Secondary Space: Office Heating: Natural Gas Exterior Finish: Wood Construction Type: Wood Frame - 2x6 Foundation: Block Roof Type: Asphalt Flooring: Carpet; Heavy Duty Walls: Paneled Sewer: Lift Station; Public Sewer Water Source: Public Features-Commercial: DSL/Cable Available; In City Limits; Master Meter - Elec; Master Meter - Gas; On-Site Parking; Restroom(s)-Private; Stand Alone Unit; Wtrfnt-Access Nearby Access: Dedicated Road; Government; Maintained; Paved View Type: Lake Listing Terms Financing: 1031 Exchange; Cash; Conventional Documents: Docs Posted on MLS; Lease; Other - See Remarks
Listing Office: Homer Real Estate
Last Updated: November - 01 - 2024
1230 Ocean Drive, Homer, AK 99603- MLS# 24-6610
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 the site owner are marked with 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. Site contains live data.