$1,600,000
20908 Bill Stephens Drive
Chugiak, AK 99567
MLS# 26-8013
10819 sqft


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Property 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

Details
Maps
Documents
Contract Info
Price-List: 1600000
Date-Listing: 2026-07-01
Status: Active
EM Minimum Deposit: 16000
Foreclosure/Bank Own: No
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
Retail
SF-Retail Apx: 6000
Office
Office Apx SF: 6000
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 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
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. ***Business available separately for $400,000. Seller will consider a leaseback of the restaurant space and grant the Buyer a first right of refusal to purchase the restaurant, residence, and real property.***

IDX
Listing Office: RE/MAX Dynamic Properties - Eagle River Branch

Last Updated: October - 16 - 2026

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.