516 Stedman St Ketchikan, AK 99901

Property Details for 516 Stedman St

Year built

1988

Lot size

0.08 lot acres

Property size

5,750 SF

Property type

Office Properties & Spaces

APN

01-1441-008800

APU

11441008800

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.

Location Insight

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