MatSu Living

20908 Bill Stephens Drive, Chugiak, AK 99567

$1,600,000
Property Type: Commercial Sale Square Footage: 10,819 Lot Size (sq. ft.): 71,438 Status: Active
Current Price: $1,600,000 Last Modified: 7/01/2026

Description

Rare opportunity to own a well-established, highly successful turnkey restaurant celebrating its 50th anniversary this year. The owner is ready to retire, offering a unique chance to acquire the business, commercial property, and residence all in one exceptional package. Bella Vista Pizzeria & Restaurante has long been a Chugiak favorite, known for its authentic Italian and Mediterranean cuisine

Supplements: served in a warm, inviting atmosphere. The 7,674 SF restaurant features seating for 115 on the main level with a cozy gas fireplace, plus two upstairs banquet rooms accommodating approximately 80 and 70 guests--ideal for private events and large gatherings. The property includes a beer and wine license, fully equipped commercial kitchen, fire suppression system, brand-new roof, new make-up air unit, approximately 10-year-old double boiler, office, mechanical room, storage areas, separate employee restroom, four public restrooms, and professionally cleaned carpeting. The Ecolab dishwasher is leased at $120/month. Also included is a 3,145 SF chalet-style residence featuring a vaulted great room with a wood-burning fireplace, four bedrooms, and three bathrooms. Enjoy a spacious wraparound deck and a lower-level mother-in-law apartment complete with a full kitchen, private laundry, separate entrance, and current rental income potential. Situated on an expansive 71,250 SF lot, with the majority of the property paved for ample parking, this offering combines an established business, commercial real estate, and residential living in one unique investment opportunity. Seller may consider owner financing for qualified buyers.

More Information MLS# 26-8013

Contract Info

Price-List: 1600000 Date-Listing: 2026-07-01 Status: Active EM Minimum Deposit: 16000 Foreclosure/Bank Own: No

Location Tax and Legal

Area: 100 - Chugiak/Peters Crk Street #: 20908 Street Name: Bill Stephens Arterial: Drive Closest USPS Town: Chugiak State: AK Zip Code: 99567

Property Info

Type of Property: Mixed Use Building Type: Class B Realtor.com Type: Commercial Construction Status: Existing Structure Building Status: Owner Occupied % of Space Leased: 100 Acres: 1.64 SF-Lot: 71438 Lot Area Source: Tax Authority SF-Res: 10819 Floors: 3 Zoning: CE-B-3 General Busines Year Built: 1977

Directions and Remarks

Directions: Glenn Hwy to South Peters Creek Exit, Left under the Glenn Hwy., Left again on Bill Stephen's Drive property is on the right.

Building Info

Building Name: Bella Vista

Office

Office Apx SF: 6000

Retail

SF-Retail Apx: 6000

Property Features

Primary Space: Hospitality; Office/Retail; Retail Heating: Baseboard; Natural Gas; Radiant Exterior Finish: Stucco; Wood Construction Type: Wood Frame Foundation: Block; Poured Concrete Roof Type: Bitumen/Torch Down; Shake; Shingle; Wood Flooring: Carpet; Laminate; Tile; Linoleum; Vinyl Walls: Sheetrock; Wood Sewer: Septic Tank Water Source: Public Features-Commercial: 3 Phase Electric; DSL/Cable Available; Floor Drain(s); HW Heater - Gas; Living Quarters; Master Meter - Elec; Master Meter - Gas; On-Site Parking; Restroom(s)-Private; Separate Meter-Elec; Separate Meter-Gas; Stand Alone Unit; Other - See Remarks Access: Dedicated Road; Government; Maintained; Paved View Type: Mountains; Unobstructed To Show: ShowingTime Listing Terms Financing: Cash; Conventional; Owner Finance; See Remarks Documents: Docs Posted on MLS; Inventory List; P & L

Documents

Listing Office: RE/MAX Dynamic Properties - Eagle River Branch
Last Updated: July - 01 - 2026
20908 Bill Stephens Drive, Chugiak, AK 99567- MLS# 26-8013
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.
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