1529 Ocean Drive

    Homer, AK 99603
    • $675,000
    • STATUS: Active
    • ON SITE: 394 days
    • MLS #: 17-9908
    UPDATED: 7 min ago
    $675,000
    • 0
      BEDS
    • 0.81
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,800
      SQFT
    • $69
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Area:

    School Ratings & Info

    Description

    Updated and ready to go-this multi use facility is strategically located on one of Homer's main corridors, directly accessing the Spit & across from the airport turnoff. Strong rental history on the main level, the upper 2400 SF is ready to complete & the 5000 SF mini storage all offer various income streams. Ample parking and great visibility. Seller is licensed RealtorThe component mix of this building is fairly unique and there are no true similar properties in the market area. The diversity has worked really well because cash flow is not solely dependent on one or two tenants, and that provides for ongoing security when there is a vacancy. Currently, Homer Real Estate, which is also owned by the Sellers, operates from one of the offices and manages the other office tenants and self storage clients. The primary area is a 4800 square foot office/retail building. The lower level is a concrete block structure framed and sided. It has been updated and now has natural gas central heating. It is divided in to two 800 square foot office areas and an office/retail area of approximately 625 feet, net of the upstairs stairwell access. Homer Real Estate is the current main tenant. Hallo Bay Adventures vacated at the end of January, 2018 due to the death of the business owner. The business had been tenants for a number of years and were paying $2000 per month plus tax. The tenants were also responsible for their electric, internet and phone services. The upper 2400 square feet of area is currently unfinished, although there is a stairwell access from the lower level, and some rough in plumbing.. In addition to the 4800 SF core there is a 1200 square foot frame construction portion of the property attached at the west end of the current office area. This area is heated, and is presently configured as eight 10x10 storage areas and one 5x10 storage unit, all accessed from two man doors and sharing a hallway area. For the most part, this area contains the owners personal property although it is completely set up for self-storage use. To the rear of the main structure are two long buildings which are used as mini storage units. One section is a 100 feet by 20 feet area that has radiant heat in the concrete slab, although the units are not currently rented as climate controlled space. The second section is 90x20 feet, all unheated units. The mini storage complex is built slab on grade, with pre-engineered steel structures manufactured by Tech-Fast, a specialist in mini storage facilities. In this area, there are ten 5x10 units, five 10x20 units and twenty one 10x10 units. The 5x10 storage units rent for $35/month, the 10x10 units rent for $60/month and the 10x20 units for $110/month. There was an engineering structural inspection completed in 2016, and all recommended repairs have been completed as part of a face lift and renovation to the property. The property is being sold because the Sellers have purchased a large retail/professional building on Pioneer and are renovating that. goal in the sale is pure simplification of assets since this property has been profitable and served them very well over the years.

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    DISCLAIMER: 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 RMG Real Estate Network | Keller Williams Realty Alaska Group are marked with either the listing brokerage's logo or 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. Listing information was last updated on:2018-07-16T00:40:20.563.
    www.alaskahomesearch.com/homes/73703791

    1529 Ocean Drive Homer, AK 99603

    • Price: $675,000
    • Status: Active
    • Updated: 7 min ago
    • MLS #: 17-9908
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.81
    Acres
    9,800
    SQFT
    $69
    $/SQFT
    Neighborhood:
    Homer
    Area:
    Homer
    Property Description
    Updated and ready to go-this multi use facility is strategically located on one of Homer's main corridors, directly accessing the Spit & across from the airport turnoff. Strong rental history on the main level, the upper 2400 SF is ready to complete & the 5000 SF mini storage all offer various income streams. Ample parking and great visibility. Seller is licensed RealtorThe component mix of this building is fairly unique and there are no true similar properties in the market area. The diversity has worked really well because cash flow is not solely dependent on one or two tenants, and that provides for ongoing security when there is a vacancy. Currently, Homer Real Estate, which is also owned by the Sellers, operates from one of the offices and manages the other office tenants and self storage clients. The primary area is a 4800 square foot office/retail building. The lower level is a concrete block structure framed and sided. It has been updated and now has natural gas central heating. It is divided in to two 800 square foot office areas and an office/retail area of approximately 625 feet, net of the upstairs stairwell access. Homer Real Estate is the current main tenant. Hallo Bay Adventures vacated at the end of January, 2018 due to the death of the business owner. The business had been tenants for a number of years and were paying $2000 per month plus tax. The tenants were also responsible for their electric, internet and phone services. The upper 2400 square feet of area is currently unfinished, although there is a stairwell access from the lower level, and some rough in plumbing.. In addition to the 4800 SF core there is a 1200 square foot frame construction portion of the property attached at the west end of the current office area. This area is heated, and is presently configured as eight 10x10 storage areas and one 5x10 storage unit, all accessed from two man doors and sharing a hallway area. For the most part, this area contains the owners personal property although it is completely set up for self-storage use. To the rear of the main structure are two long buildings which are used as mini storage units. One section is a 100 feet by 20 feet area that has radiant heat in the concrete slab, although the units are not currently rented as climate controlled space. The second section is 90x20 feet, all unheated units. The mini storage complex is built slab on grade, with pre-engineered steel structures manufactured by Tech-Fast, a specialist in mini storage facilities. In this area, there are ten 5x10 units, five 10x20 units and twenty one 10x10 units. The 5x10 storage units rent for $35/month, the 10x10 units rent for $60/month and the 10x20 units for $110/month. There was an engineering structural inspection completed in 2016, and all recommended repairs have been completed as part of a face lift and renovation to the property. The property is being sold because the Sellers have purchased a large retail/professional building on Pioneer and are renovating that. goal in the sale is pure simplification of assets since this property has been profitable and served them very well over the years.
    Exterior Features

    Access Type GovernmentMaintainedPaved Construction Type BlockConcreteWood Frame - 2X6 Exterior Finish MetalWood Foundation Type Slab Parking Space Total 26 Roof Type Metal View Type BayGlacierMountainsSpit

    Interior Features

    Features Commercial Corner LotDsl/Cable AvailableFloor Drain(S)Hw Heater - ElecHw Heater - GasIn City LimitsOn-Site ParkingRestroom(S)-PrivateSeparate Meter-ElecSeparate Meter-GasStand Alone UnitWtrfrnt-Acc Nearby Flooring Type CarpetSlabTile Fuel Type Natural Gas Heat Type Baseboard Office Apx SF 2400 Primary Space Office Secondary Space Office/Retail Walls BlockSheetrock

    Property Features

    Borough Census Area 1B - Kenai Peninsula Borough Building Status Owner Occupied Building Type Class B Construction Status Existing Structure Foreclosure Bank Owned No New Finance Terms Conventional Property Use Mixed Use Region 1 - Southcentral Alaska Region Sewer Type Lift StationPublic Sewer Water Type Public Zoning Gc1 - General Commercial 1

    Listing Office Homer Real Estate. Copyright 2013 Alaska Multiple Listing Service, Inc. All rights reserved.
    DISCLAIMER: 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 RMG Real Estate Network | Keller Williams Realty Alaska Group are marked with either the listing brokerage's logo or 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. Listing information was last updated on:2018-07-16T00:40:20.563.
     
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