516 Stedman St Ketchikan, AK 99901

5,750 SF 0.08 ac lot Built 1988

Entity Owned 9-yr Hold ~ Est. High Equity

Property ID

US02-0295940

$799,000 5,750 SF

516 Stedman St, Ketchikan, AK 99901
View Listing →

Google Maps

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.