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$ 517,500
$ 517,500
Est. payment | /mo
5,000 SqFt
$ 517,500
$ 517,500
Est. payment | /mo
5,000 SqFt
Key Details
Sold Price $517,500
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $103
MLS Listing ID 25-684
Year Built 1987
Annual Tax Amount $975
Lot Size 2,983 Sqft
Property Description
This is a rare chance to own a fully-leased, income-generating property in the heart of Wrangell's bustling commercial district. Located on Front Street, the most sought-after location in town, this property combines a high-performing business tenant with strong residential rental demand, offering stable and diversified cash flow. Home to a highly successful burger restaurant with a proven track record and significant local and tourist traffic. The restaurant is a staple in the community, ensuring consistent rental income. Two well-maintained income-producing apartments. With an ongoing rental housing shortage in Wrangell, these units boast a waiting list, ensuring zero vacancy risk. The entire building is secured under a 3-year NNN (Triple Net Lease) agreement, minimizing owner responsibilities while ensuring steady cash flow. Commercial and residential components mitigate risk by catering to multiple income sources. This property is an ideal candidate for a 1031 tax-deferred exchange, offering both stability and growth potential. Well maintained, the property requires no significant capital improvements, allowing investors to enjoy immediate returns. Opportunities like this are rare. Secure your foothold in Wrangell's thriving real estate market with a property that offers stability, growth, and strong returns. Call today for financial details and to arrange a private tour.
Invest with confidencethis property is a proven performer in an in-demand market.
Invest with confidencethis property is a proven performer in an in-demand market.
Location
State AK
Area 568 - Wrangell Island & Vicinity
Zoning COM - Commercial (Unofficial)
Interior
Heating Baseboard, Electric
Flooring Tile, Carpet
Exterior
View Mountains
Roof Type Bitumen/Torch Down
Building
Foundation Poured Concrete, Post on Pad
New Construction No
Others
Acceptable Financing Cash, 1031 Exchange, Conventional
Listing Terms Cash, 1031 Exchange, Conventional
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Listed by Anchor Properties
Bought with Anchor Properties
Bought with Anchor Properties