120 Front St Wrangell, AK 99929

Property Details for 120 Front St

Year built

1987

Lot size

0.07 lot acres

Property size

5,000 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a fully-leased, 5,000 square foot commercial property situated on a 0.07-acre lot at 120 Front Street in Wrangell, Alaska. The property enjoys a prime location in Wrangell's bustling commercial district, a highly sought-after area known for its strong commercial and residential activity. The main tenant is a thriving, established burger restaurant with a proven track record and consistent high volume of both local and tourist clientele. This ensures a reliable and substantial income stream. Adding to the property's diversified income potential are two well-maintained residential apartments, currently fully occupied and boasting a waiting list due to Wrangell's ongoing housing shortage. This guarantees minimal vacancy risk and consistent rental income from this component. The entire property is secured under a 3-year Triple Net Lease (NNN) agreement, significantly reducing owner responsibilities and maximizing passive income. The combination of commercial and residential tenants mitigates risk and provides a stable, diversified cash flow. The property is in excellent condition and requires no immediate capital improvements, allowing for immediate returns on investment. This presents an ideal opportunity for a 1031 tax-deferred exchange, offering both stability and significant growth potential within Wrangell's thriving real estate market. The asking price is $517,500.

Location Insight

City

Wrangell

County

Wrangell City And Borough

State

Alaska

Longitude

-132.384

Latitude

56.4718