Mixed-Use Building with Rental
For Sale
$799,000
516 Stedman St, Ketchikan, AK 99901
Three-story mixed-use building with existing rental income and conversion potential.
Property Size5,750 SF
Lot Size0.07 Acres
Price / SF$138.96
Days on Market2634
Property Features for 516 Stedman St
General Information
Standard status
Active
Size
5,750 SF
Lot size
0.07 Acres
Taxes and HOA fees
Annual Taxes
$5,500
Listing Agency:
Coastal Keller Williams Realty Alaska Group
(907) 617-5412
Listed By:
Michael Elerding · License #17477
(907) 617-5412
Source:
Exprealty
Added: May 28, 2019
Changed: Aug 12
Last Checked: Aug 12 at 11:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coastal Keller Williams Realty Alaska Group
Investment Insights
Based on property information with market context.
This three-story mixed-use building, constructed in 1988, is located on Stedman Street. The property offers 5,750 square feet of rentable space and includes five off-street parking spaces. Each floor is individually metered for electrical service and features separate lockable access. A central staircase provides access to all three floors, incorporating a rock feature. The third floor, with 2,104 square feet of rentable space, is currently vacant and includes two private offices, a kitchenette, two private bathrooms, and a deck/viewing area at the front of the building. The first and second floors are owner-occupied, offering 1,572 and 1,994 square feet of rentable space, respectively, and generate an annual gross rental income of $48,000. The property is zoned General Commercial, lending itself to commercial retail or office space. The building could also be converted to residential condos or employee housing. The existing owner/tenant is willing to stay and continue to lease the space or vacate at the buyer's request.
Key Highlights
- High Rental Income Potential: Existing rental income of $48,000 annually from the first two floors, plus a vacant third floor ready to rent.
- Flexible Zoning: Zoned General Commercial, allowing for retail, office space, or conversion to residential condos/employee housing.
- Substantial Rental Space: Total of 5,750 sq ft of rentable space across three floors.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 99901, AK
13,942
Population
6,659
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
95%
High-School Grad
1,958.9 sq mi
ZIP Area
7
Density / Sq Mi
$89,155
Median Household Income
$49,493
Median Earnings
$1,388
Median Rent
$379,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three-story mixed-use building with existing rental income and conversion potential.
Where is this retail space located?
The property is located at 516 Stedman St Ketchikan, AK.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: High Rental Income Potential: Existing rental income of $48,000 annually from the first two floors, plus a vacant third floor ready to rent.; Flexible Zoning: Zoned General Commercial, allowing for retail, office space, or conversion to residential condos/employee housing.; Substantial Rental Space: Total of **5,750 sq ft of rentable space** across three floors.
