$725,000
1230 Ocean Drive
Homer, AK 99603
MLS# 24-6610
Status: Closed
4792 sqft
Front of Building
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Front of Building Entrance to upper level Side View of Building & Parking Lot Front Entrance View Unit 1 on right pen space Unit 1 Unit 1 Unit 1 Conference room Unit 1 Kitchenette Unit 1 Unit 1 Bathroom Unit 2 Hallway Unit 2 Unit 2 Unit 2 Unit 2 Unit 2 Unit 2 Unit 2 Unit 2 Unit 2 Bathroom Utility Closet Parking Lot for Lower Level Back of Building Back of Building Lower Level Entrance Lower Level Unit Lower Level Bathroom Pilot Room/Office Space 1 Pilot Room/Office Space 1 Pilot Room/Office Space 2 Pilot Room/Office Space 2 Lower Level Storage Lower Level Unit Lower Level Unit Lower Level Unit Lower Level Office Space Lower Level Office Space Lower Level Kitchen Lower Level Kitchen Lower Level Office Space Pilot Room/Office Space 3 Pilot Room/Office Space e Lower Level Office Space Lower Level Office Space Lower Level Office Space Lower Level Office Space Lower Level Office Space Lower Level Office Space Unit 2 Kitchenette Boiler Room Front Walkway img View from Front Deck Side of Upper Level Parking Lot Front of Building Upper Level Parking Lot Side View of Upper Level Parking Lot Side View of Building & Parking Lot Side View of Building & Parking Lot _MG_8007 Aerial Photo HEA Lines

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

Details
Maps
Documents
Contract Info
Foreclosure/Bank Own: No
Price-List: 725000
Date-Listing: 2024-06-03
Status: Closed
Location, Tax and Legal
Region: 1 - Southcentral Alaska Region
Borough/Census Area: 1B - Kenai Peninsula Borough
Grid # (Muni Anch): N/A
Tax Map #-Mat-Su: N/A
Legal: BAY VIEW L34-35
Taxes (Estimated): 6340
Tax Year: 2023
Property Info
Realtor.com Type: Commercial
Construction Status: Existing Structure
Building Type: Class B
Building Status: Leased
% of Space Leased: 100
Acres: 0.48
SF-Lot: 20908.8
Lot Area Source: Tax Authority
Zoning: GC1 - General Commercial 1
Floors: 2
Type of Property: Single Use
SF-Res: 4792
Year Built: 1978
Directions and Remarks
Directions: Ocean Dr on the way to the Homer Spit. Property on left next to laundromat
Listing Terms Financing
1031 Exchange: 1
Cash: 1
Conventional: 1
Primary Space
Office: 1
Secondary Space
Office: 1
Exterior Finish
Wood: 1
Heating
Natural Gas: 1
Roof Type
Asphalt: 1
Construction Type
Wood Frame - 2x6: 1
View Type
Lake: 1
Foundation
Block: 1
Flooring
Carpet: 1
Heavy Duty: 1
Walls
Paneled: 1
Access
Dedicated Road: 1
Government: 1
Maintained: 1
Paved: 1
Sewer
Lift Station: 1
Public Sewer: 1
Office
Office Apx SF: 4792
Features-Commercial
DSL/Cable Available: 1
In City Limits: 1
Master Meter - Elec: 1
Master Meter - Gas: 1
On-Site Parking: 1
Restroom(s)-Private: 1
Stand Alone Unit: 1
Wtrfnt-Access Nearby: 1
Documents
Docs Posted on MLS: 1
Lease: 1
Other - See Remarks: 1
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 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
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
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!
IDX
Listing Office: Homer Real Estate

Last Updated: November - 01 - 2024

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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