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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Commercial real estate
3232 Homer Spit Rd Homer, AK 99603-8013
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US02-0351916
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Total area
6,000 SF
Lot
52.76 ac (2,298,226 SF)
APN
181-030-29
UPID
US02-0351916
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
North Star Terminal Construction Company General Contractor
-
Lake Iliamna Contractors LLC General Contractor
-
The 'Lil Taco Bus, aka A Bus Named Sue Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$635k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$690k
Owner & transaction history
Alaska Barge Terminal LLC · 1 yrs held
Alaska Barge Terminal LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+55.2%
Industrial (general)
$1.0M
+43.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Homer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Homer submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$635,000
7%
$590,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$725,000
Current use
OFFICE BUILDING
$1,125,000
Change: +55% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,040,000
Change: +44% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$115 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$24,521
Tax year 2024
Assessed value
$2,390,000
Assessed 2024
Previous assessed
$2,390,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$2,268,400
Assessed improvement
$121,600
Land market value
$2,268,400
Improvement market value
$121,600
Total market value
$2,390,000
Applied tax rate
20.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1980
Heating
NONE
Buildings
2
Stories
1
Total area
6,000 SF
Lot
52.76 ac (2,298,226 SF)
APN
181-030-29
UPID
US02-0351916
Jurisdiction
KENAI
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$725,000
OFFICE BUILDING
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Stories
1
Buildings
2
Lot
52.76 ac
Current owner
From public records · entity-resolved
Alaska Barge Terminal LLC
Entity
Mailing address
237 E FIREWEED LN STE #200, ANCHORAGE, AK 99503-2000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2024
—
Alaska Barge Terminal LLC
Homer Spit Properties LLC
Warranty Deed
$4,500,000 · Homer Spit Properties LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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