Bar and Entertainment
195 E Pioneer Ave, Homer, AK 99603
For Sale
$2,195,000
Established venue configured for live music, dining, private events, and other entertainment uses.
Property Size4,096 SF
Lot Size1.00 Acre
Price / SF$535.89
Days on Market195
Property Features for 195 E Pioneer Ave
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Business Included
Equipment Included
Building Details
Year Built
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
Listed By:
Gina Pelaia · License AK #16355
(907) 399-6183
Source:
Viewanchoragehouses
Added: Apr 30
Changed: Nov 1
Last Checked: Nov 8 at 7:06AM
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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Investment Insights
Based on property information with market context.
Alice's Champagne Palace is a bar and entertainment venue at 195 E Pioneer Ave in Homer, Alaska. The property includes more than 4,000 square feet under roof on approximately one acre and is equipped for continued operation. Its layout supports live music, dining, private events, concerts, and special events, providing a substantial setting for multiple forms of entertainment.
An additional commercial space is leased to a drive-thru coffee shop, creating a separate rental component within the property. The venue has served as a community gathering place for decades and occupies a highly visible position along Pioneer Avenue. Existing improvements and equipment support continued use as an operating entertainment property or adaptation to a different owner-directed concept.
An additional commercial space is leased to a drive-thru coffee shop, creating a separate rental component within the property. The venue has served as a community gathering place for decades and occupies a highly visible position along Pioneer Avenue. Existing improvements and equipment support continued use as an operating entertainment property or adaptation to a different owner-directed concept.
Key Highlights
- More than 4, 000 square feet under roof
- Approximately one acre along Pioneer Avenue
- Configured for concerts, dining, private events, and special events
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,604
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,632,080
$1.6M
Cap Rate 7%
$1,165,771
$1.2M
Cap Rate 9%
$906,711
$906.7K
Market Conditions
NOI Build-Up for 4,096 SF
Gross rent
$115.0K $28.08/SF
− Vacancy
−$6.2K −$1.52/SF
EGI
$108.8K $26.56/SF
− OpEx
−$27.2K −$6.64/SF
NOI
$81.6K $19.92/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,632,080
Cap Rate 7%
$1,165,771
Cap Rate 9%
$906,711
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,604 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,952 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established venue configured for live music, dining, private events, and other entertainment uses.
Where is this bar & pub located?
The property is located at 195 E Pioneer Ave Homer, AK.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: More than 4, 000 square feet under roof; Approximately one acre along Pioneer Avenue; Configured for concerts, dining, private events, and special events
