Business Summary

New Reduced Sale Price (Cap Rate of 9.5% w/ only three quarters for 2013, should go over 10% by the end of this year)

First Class Lodge/Inn in Sitka, Alaska – 12,000sf main building built in 2006, 3 stories w/ elevator, includes 9 rooms (2 beds each) w/ full baths, one is an efficiency(4 beds),4 apartments w/ one bedroom each w decks w/waterfront views,40 seat restaurant & Bar w/ full liquor license, open deck, Floating dock w/ 3,500 sf floating office bldg built in 1981, with 2 ea upstairs apartments, dock sys w/ plane/boat moorage, fuel sales/ air charter business.

Parcel Size: 28,245 Sq.Ft. land, 14,577 Sq.Ft. of uplands and 13,688 Sq.Ft. of long term Leased Tidelands

Legal Address: Billage Lot 36B, Block 5, & SPC Lot 2.

Buildings: First Class designed 12,000sf main building built in 2006, 3 stories w/ elevator, includes 9 rooms (2 beds each) w/ full baths, one is an efficiency(4 beds),4 apartments w/ one bedroom each w decks w/waterfront views,40 seat restaurant & Bar w/ full liquor license, open deck. Floating dock w/ 3,500 sf floating office bldg built in 1981, with 2 ea upstairs apartments, dock sys w/ plane/boat moorage, fuel sales/ air charter business.

Taxes: 2012 real estate tax – $8,040

Utilities: City electric, city sewer & water, phone & cable TV, wireless internet

Details: Harbor views on this City Water Front property has an established businesses – Bed & Breakfast, Restaurant, Bar, Apartment rentals, Air Charter, Fuel Sales, Plane/Boat moorage.

Preview a video walking tour of this facility at http://www.flyinfishinn.com/

Sale Price: Reduced to $3,200,000 Cash or new finance (FF&E included) With this reduced sale price this property has a 9.5% cap rate.

Property Details

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