Overview

Description

Income-Producing Property in the Harbor District of Seward! Well-maintained three story 100-room hotel with spacious lobby, two conference rooms, & new addition in 2008. Busy, year-round bar & restaurant with large seating capacity & kitchen. Multiple retail spaces w/ prime tourist location. Excellent opportunity to purchase a turn-key business with in-place operations. 100-car On-site parking.100-Room Hotel, Restaurant & Bar, Retail Spaces in the Harbor District of Seward. Turn-key property with outstanding income history.

Main Lodging Building w/ 2008 Addition
- Well-maintained, three levels of 80 rooms. Five ADA compliant rooms. Layouts include a variety of doubles, queens, kings, jacuzzi suites and mountain/harbor views. Original rooms are accessed from the exterior while new addition rooms are accessed from interior. All rooms include standard hotel furniture. New addition rooms include air conditioners.
- Large welcoming lobby with fireplace, mezzanine, AC, guest laundry facilities, and check-in area. Two spacious conference rooms that host local events and luncheons. Two elevators for guest convenience. Basement storage & laundry facilities.
- Original 28 rooms built in 1976. Third floor added in 1984. 18 additional units at the South end in 1994 and brand-new addition in 2008. Property has been expanded and upgraded frequently for a total of 38,597 sq ft.

Annex Building Lodging Area
- 20 additional rooms located above the retail area in the annex building.
- Layouts include a variety of rooms including18 queen doubles & 2 kings/ jacuzzi suites. Rooms have AC units and microwaves. East facing rooms have harbor/marina views. West facing rooms have mountain views. Elevator and interior access to rooms.
- Retail area below built in 1990 and building renovated in 1997. Annex lodging area is 9,618 sq ft on two levels built above the retail area in 1997.

Furniture (FF&E)
The FFE for the hotel rooms is included & is valued at $3,000/room. This includes: beds w/ headboards, dresser/amoire, nightstand, sitting chair, television, table lamps, hanging wall mirror, blinds, linens, microwave (some), mini fridge, & artwork.


Restaurant & Lounge/Bar
- Year-round dining options and a favorite among tourists and locals.
- 87-person maximum capacity in the restaurant. 96-person maximum capacity in the bar.
- The bar includes a recreational area with pool tables, darts and large screen tvs.
- Property has Tourism Type Beverage Dispensary Liquor License.
- The bar, restaurant, kitchen & office utilize 6,101 sq ft. Building expanded and updated in 1979, 1984 & 1994. In 2014 the kitchen was completely revamped and modernized.
Annex Building Retail Area
- Located on the main level with access from Fourth Avenue and sidewalk frontage.
- Two separate retail areas totaling 4,336 sq ft (including basement storage area).
- The smaller retail space is a coffee shop with an active lease.
- The larger retail space is currently being vacated and is available for use. There are interested parties for the space but for the purpose of this sale it is currently being left vacant.


Property Features
100-car on-site paved parking, in-floor heating/baseboard, AC in main lobby area, guest laundry facilities, sprinkler and fire alarm systems, walking distance from marina, mountain & harbor views.

P&Ls available with signed NDA to prequalified buyers.
The subject is positioned on a single, leased parcel from the City of Seward. Approximately 531ft of frontage on Third Avenue and 180ft frontage on Fourth Ave. As with all waterfront property in Alaska, the site is susceptible to the risk of tsunami activity.

Showing Instructions:
Appointment Only,Call Listing Office

Highlights

• Lot Features: Corner Lot, City Lot
• Building Features: Elevator
• Lease Amount Frequency: Monthly
• Documents Available: Docs Posted on MLS, Package Available
• Heating: Baseboard
• Parking Features: On Site
• Security Features: Fire Sprinkler System
• Buyer Agency Compensation: 2.25
• Showing Instructions: Appointment Only,Call Listing Office

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Listing ID: 22-1310

Location

Gallery