Homer, AK 99603,1230 Ocean DR
Homer, AK 99603,1230 Ocean DR
Homer, AK 99603,1230 Ocean DR
$725,000
Est. payment /mo
$725,000
Est.Price: ?

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!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Alaska MLS
Listed by Homer Real Estate
Bought with Story Real Estate

Get More Information

Holly Herring

+1(907) 570-4703

REALTOR® | License ID: 173046

REALTOR® License ID: 173046

Name

Phone*

Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.