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    516 Stedman St Ketchikan, AK 99901
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    516 Stedman St, Ketchikan, AK 99901

    View on Map
    • Office Spaces
    • 5,750 SF
    • 0.08 lot acres
    For Sale
    $799,000
    View Listing →
    Mixed-Use Building on Stedman Street For Sale
    $799,000
    5,750 SF

    Mixed-Use Building on Stedman Street

    Three-story mixed-use building with retail and office space.

    516 Stedman Street, Ketchikan, AK 99901
    View Listing
    Property ID
    US02-0295940
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Local Paper / (Bike/Boat/Book/etc) Store / Printing Service
    • KFMJ / Radio Station / Telecommunications Service

    Property Details for 516 Stedman St

    Year built
    1988
    Lot size
    0.08 lot acres
    Property type
    Office Spaces
    APN
    01-1441-008800
    APU
    11441008800

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 12, 2016 — Stedman Street Associates — Deed · related $366k · Tongass FCU

    Description

    This exceptional three-story commercial building, located at 516 Stedman Street in Ketchikan, Alaska, presents a unique investment opportunity. Built in 1988, the 5,750 square foot structure sits on a 0.08-acre lot and offers significant rental income potential. Currently, the first and second floors are occupied, generating a combined annual gross rental income of $48,000. These floors comprise 1,572 and 1,994 square feet of rentable space, respectively, and each floor has its own individual electrical meter and separate lockable access. A central staircase, featuring a distinctive rock feature, connects all three levels. The third floor, totaling 2,104 square feet, is currently vacant and ready for immediate occupancy. This floor includes two private offices, a kitchenette, two private bathrooms, and a deck/viewing area. The building boasts five off-street parking spaces. Zoned General Commercial, this property offers incredible versatility. It could continue to operate as commercial retail/office space, or it could be easily converted into residential condominiums or employee housing. The existing owner/tenants are willing to remain as tenants or vacate upon request from a new owner. This property presents a rare chance to acquire a well-maintained, income-producing building in a desirable Ketchikan location. The possibilities are truly endless.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ketchikan
    County
    Ketchikan Gateway
    State
    Alaska
    Longitude
    -131.638
    Latitude
    55.3396
    CBSA code
    28540
    CBSA name
    KETCHIKAN, AK MICROPOLITAN STATISTICAL AREA

    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
    $5,827
    $79,500
    $414,300
    $493,800
    -
    $79,500
    $414,300
    $493,800

    Comparable in this City

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      View Details
    • Value Estimation by Request
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      8,560 SF

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      OFFICE (GENERAL)
      2050 Sea Level Dr Ste, Ketchikan, AK 99901-6058
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,750 SF

      Mixed-Use Building on Stedman Street

      Three-story mixed-use building with retail and office space.
      516 Stedman St, Ketchikan, AK 99901
      View Details
    • Contact for pricing
      5,344 SF

      Ketchikan Office Building with Views

      5,300 SF office building in Ketchikan's downtown hub.
      426 Main St, Ketchikan, AK 99901
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    • Contact for pricing

      Mixed-Use Building with Rental Income

      Three-story mixed-use building with existing rental income and conversion potential.
      516 Stedman St, Ketchikan, AK 99901
      View Details
    • $995,000
      17.42 Acres

      Light and Heavy Industrial Land

      In-town industrial parcel with multiple access points and over 4,600 SF building for light and heavy use under I-Industrial zoning.
      929 Stedman St, Ketchikan, AK 99901
      View Details
    • $422,000
      1,797 SF

      Ketchikan Commercial Condo - Downtown

      Prime Ketchikan Office Condo, 1797 sq ft.
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      View Details
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      Oversized City Lot with Foundation Potential

      City utility access and RM zoning support single- or multi-dwelling development near key civic amenities.
      410/412 Deermount St, Ketchikan, AK 99901
      View Details
    View Listing
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    Ketchikan, AK 99901
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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.

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