Two-Tenant Retail
New
For Sale
$1,295,000
1316 Ocean Dr, Homer, AK 99603
An upstairs-and-downstairs layout accommodates separate occupants, with an additional cabin on the parcel.
Property Size3,066 SF
Price / SF$422.37
Days on Market5
Property Features for 1316 Ocean Dr
General Information
Standard status
Active
Size
3,066 SF
Property subtype
Commercial
Building Details
Year Built
1976
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
Listed By:
Gina Pelaia · License #16355
(907) 399-6183
Source:
Viewanchoragehouses
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:01PM
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 Berkshire Hathaway HomeServices Alaska Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,066-square-foot retail property in Homer has been renovated and configured for two tenants, with one space on each floor. An existing cabin provides a separate additional structure on the nearly half-acre parcel. The property was built in 1976 and has a history of restaurant and bakery use.
Located at 1316 Ocean Drive in Homer, Alaska, the property sits along Ocean Drive. Its retail use and divided layout provide space for separate occupants within the same property.
Located at 1316 Ocean Drive in Homer, Alaska, the property sits along Ocean Drive. Its retail use and divided layout provide space for separate occupants within the same property.
Key Highlights
- 3,066 square feet of retail space
- Two‑tenant configuration with one space upstairs and one downstairs
- Existing cabin on a nearly half‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,345
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,900
$986.9K
Cap Rate 7%
$704,929
$704.9K
Cap Rate 9%
$548,278
$548.3K
Market Conditions
NOI Build-Up for 3,066 SF
Gross rent
$73.6K $24.00/SF
− Vacancy
−$3.1K −$1.01/SF
EGI
$70.5K $22.99/SF
− OpEx
−$21.1K −$6.90/SF
NOI
$49.3K $16.09/SF
Area
Kenai Peninsula County, AK
Vacancy
4.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,900
Cap Rate 7%
$704,929
Cap Rate 9%
$548,278
Alternative Uses
Best Use
Retail
$704.9K
$616.8K – $822.4K
NOI $49,345 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$21.26M
$18.61M – $24.81M
NOI $1,488,506 @ 7.0% cap · market cap 114.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 99603, AK
10,766
Population
6,251
Households
1.7
Avg Household Size
43
Median Age
39%
College-Educated
94%
High-School Grad
1,068.8 sq mi
ZIP Area
10
Density / Sq Mi
$76,368
Median Household Income
$41,530
Median Earnings
$1,236
Median Rent
$345,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - An upstairs-and-downstairs layout accommodates separate occupants, with an additional cabin on the parcel.
Where is this retail space located?
The property is located at 1316 Ocean Dr Homer, AK.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 3,066 square feet of retail space; Two‑tenant configuration with one space upstairs and one downstairs; Existing cabin on a nearly half‑acre parcel
