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    Property profile & analytics

    5075 Kachemak Dr Homer, AK 99603

    • Commercial real estate
    • 2,400 SF
    • 25.03 lot acres
    For Sale
    View listing
    $275,000
    Value Estimations
    Cap Rate Potential
    3.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US02-0157415
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Airgas Store / Welding Supply Store / Gas Cylinders Supplier
    • Boatyard Cafe / American Restaurant
    • Air Liquide / Gas Company
    • Alaska industrial service / Machine Maintenance Service
    • Bulletproof Nets / Manufacturer / Fishing Store

    Property Details for 5075 Kachemak Dr

    Year built
    1981
    Lot size
    25.03 lot acres
    Property size
    2,400 SF
    Property type
    Commercial real estate
    APN
    174-192-80
    APU
    17419280

    Description

    This exceptional opportunity presents the chance to acquire the well-established Boatyard Cafe, a beloved Homer landmark since the 1980s. This turnkey operation includes the building and business, offering a seamless transition for a new owner. The sale includes all existing equipment and the popular, proven menu, ensuring immediate revenue generation. Located within the Homer Boatyard, the cafe benefits from a built-in, year-round clientele and the security of a 24-hour security watch. Recent building updates enhance the property's appeal, including new flooring, windows, a heater, a renovated bathroom, and a significant addition: a large deck offering stunning Kachemak Bay and boatlift views. The cafe comfortably seats 23 indoors and an additional 24 on the expansive outdoor deck. A transferable beer and wine license is included, adding to the business's profitability. The property is offered with an affordable ground lease, minimizing upfront investment costs. This is a rare chance to own a thriving, profitable business in a prime Homer location. Don't miss this opportunity to capitalize on a well-loved, established restaurant with a loyal customer base. The cafe's success is evident in its consistent patronage and strong reputation within the community. This is a truly turnkey operation, ready for a new owner to step in and continue its legacy of success. The building itself is in excellent condition thanks to recent renovations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $455,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $475,000
      Market price range: $151k - $475k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Homer
    County
    Kenai Peninsula
    State
    Alaska
    Longitude
    -151.445
    Latitude
    59.6653

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $29,177
    $873,700
    $1,798,200
    $2,671,900
    -
    $873,700
    $1,798,200
    $2,671,900

    Comparable in this City

    • Value Estimation
      $250,000
      0.24 Acres

      Homer, AK 99603

      COMMERCIAL (GENERAL) • 0.24 Acres
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    • Value Estimation by Request

      Homer, AK 99603

      COMMERCIAL (GENERAL)
      Homer, AK 99603
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    • Value Estimation by Request

      Homer, AK 99603

      COMMERCIAL (GENERAL)
      Homer, AK 99603
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    • Value Estimation
      $265,000
      0.24 Acres

      1435 Lakeshore Dr

      COMMERCIAL (GENERAL) • 0.24 Acres
      1435 Lakeshore Dr, Homer, AK 99603-7945
      View Details
    • Value Estimation
      $820,000
      19,424 SF

      4786 Homer Spit Rd

      COMMERCIAL (GENERAL) • 19,424 SF
      4786 Homer Spit Rd, Homer, AK 99603-8001
      View Details
    • Value Estimation
      $260,000
      1,324 SF

      4470 Homer Spit Rd

      COMMERCIAL (GENERAL) • 1,324 SF
      4470 Homer Spit Rd, Homer, AK 99603-8003
      View Details

    Similar Nearby for Sale

    • $139,000
      2.00 Acres

      40285 Sterling Highway

      Land • 2.00 Acres
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    • $4,000,000
      10,800 SF

      000 sf of space and the second story has 1800-2000 sf of space. The second story is not yet completed. The partially completed 2nd story has a master suite

      2 guest bedrooms
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    • $275,000
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      Homer Boatyard Cafe - Turnkey Business

      Iconic Homer restaurant, established business, turnkey operation.
      5075 Kachemak Dr, Homer, AK 99603
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    • $850,000
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      3714 Greatland St, Homer, AK 99603

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    • $1,400,000
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      Homer, AK Commercial Shop - $1.4M

      Spacious 3-Bay Shop, prime Kachemak City location.
      3201 Little Fireweed Ln, Homer, AK 99603
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    • $1,950,000
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      making it a prime destination for food enthusiasts and nature lovers alike. \n\nThe Restaurant:\nCaptain Patties Fish House has been one of Homer's most popular and loved restaurants for over two decades

      delighting diners with its fresh seafood
      4241 Homer Spit Rd, Homer, AK 99603
      View Details
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    Homer, AK 99603
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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