CBD Mixed-Use Commercial
For Sale
$675,000
453 E Pioneer Ave, Homer, AK 99603
Reconfigurable commercial space with Central Business District zoning and paved on-site parking.
Property Size2,556 SF
Lot Size0.34 Acres
Price / SF$264.08
Days on Market221
Property Features for 453 E Pioneer Ave
General Information
Standard status
Active
Size
2,556 SF
Lot size
0.34 Acres
Property subtype
Commercial
Zoning
CBD
Restaurant
Equipment Included
No
Liquor License
No
Additional Details
Furnished
No
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
Listed By:
Joleen H Brooks · License #18894
(907) 399-8208
Source:
Seehomesinalaska
Added: Mar 8
Changed: Oct 1
Last Checked: Oct 12 at 8:34PM
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
Investment Insights
Based on property information with market context.
Built in 1960, this 2,556-square-foot commercial building occupies a 0.34-acre parcel on E Pioneer Avenue in Homer. The interior is described as flexible and readily adaptable, with potential configurations for office, retail, restaurant, studio, or mixed-use occupancy. Central Business District zoning supports the property’s broad commercial positioning.
A paved parking area provides multiple on-site parking spaces. The building is offered as real property; furniture and equipment are excluded from the sale, although those items may be available under a separate bill of sale. A package option involving the established Alibi business, its furnishings, equipment, and liquor license is also available separately.
A paved parking area provides multiple on-site parking spaces. The building is offered as real property; furniture and equipment are excluded from the sale, although those items may be available under a separate bill of sale. A package option involving the established Alibi business, its furnishings, equipment, and liquor license is also available separately.
Key Highlights
- 2,556‑square‑foot commercial building on a 0.34‑acre lot
- Central Business District (CBD) zoning
- Flexible interior layout for office, retail, restaurant, studio, or mixed‑use concepts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,923
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,018,460
$1.0M
Cap Rate 7%
$727,471
$727.5K
Cap Rate 9%
$565,811
$565.8K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$71.8K $28.08/SF
− Vacancy
−$3.9K −$1.52/SF
EGI
$67.9K $26.56/SF
− OpEx
−$17.0K −$6.64/SF
NOI
$50.9K $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%
$1,018,460
Cap Rate 7%
$727,471
Cap Rate 9%
$565,811
Alternative Uses
Best Use
Specialty Retail
$727.5K
$636.5K – $848.7K
NOI $50,923 @ 7.0% cap · market cap 7.54%
Second Best
Mixed Use
$251.9K
$220.5K – $293.9K
NOI $17,636 @ 7.0% cap · market cap 2.61%
Theoretical Best
Multifamily LT 5
$17.73M
$15.51M – $20.68M
NOI $1,240,908 @ 7.0% cap · market cap 183.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Reconfigurable commercial space with Central Business District zoning and paved on-site parking.
Where is this mixed-use property located?
The property is located at 453 E Pioneer Ave Homer, AK.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,556‑square‑foot commercial building on a 0.34‑acre lot; Central Business District (CBD) zoning; Flexible interior layout for office, retail, restaurant, studio, or mixed‑use concepts
