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Ward Cove Marketplace Center 7196/7198/7204 North Tongass Hwy 7,195 SF 100% Leased Retail Building Ketchikan, AK 99901 $4,885,720 CAD ($679.04 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- High Visablitiy
- 3 Buildings
- Business booming from both locals & visitors.
EXECUTIVE SUMMARY
Introducing The Ward Cove Market Center and Marketplace (WCMC)
A retail shopping center and profitable small market/deli & gas station. Located along heavily traveled North Tongass Highway and a two-minute drive to the new Ward Cove cruise ship dock facility, the WCMC has been in operation since the 1960’s, and has earned a highly loyal local customer base. With easy highway access and outstanding visibility, the property features a total of three separate commercial rental spaces plus the market /deli & self-serve gas stop. A new two-story structure was built in 2023 that houses a retail space on the ground floor and two walk-in freezers and a large walk-in cooler room. The second floor of the new building has office/retail flex space and both floors are fully rented. A fully equipped commercial kitchen, with separate freezer storage, serves deli area of the market building. Property uses the same highway turnoff as the local U.S Post Office and is adjacent to Revilla Road, which is the exclusive access to Ward Cove and Harriet Hunt Lakes, recreational and campground areas. The WCMC is the last stop for supplies and services for those enjoying the public camping and day use areas.
A retail shopping center and profitable small market/deli & gas station. Located along heavily traveled North Tongass Highway and a two-minute drive to the new Ward Cove cruise ship dock facility, the WCMC has been in operation since the 1960’s, and has earned a highly loyal local customer base. With easy highway access and outstanding visibility, the property features a total of three separate commercial rental spaces plus the market /deli & self-serve gas stop. A new two-story structure was built in 2023 that houses a retail space on the ground floor and two walk-in freezers and a large walk-in cooler room. The second floor of the new building has office/retail flex space and both floors are fully rented. A fully equipped commercial kitchen, with separate freezer storage, serves deli area of the market building. Property uses the same highway turnoff as the local U.S Post Office and is adjacent to Revilla Road, which is the exclusive access to Ward Cove and Harriet Hunt Lakes, recreational and campground areas. The WCMC is the last stop for supplies and services for those enjoying the public camping and day use areas.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
7,195 SF
Year Built
1973
Price
$4,885,720 CAD
Price Per SF
$679.04 CAD
Cap Rate
6.50%
NOI
$317,572 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.17 AC
Zoning
CC
PROPERTY TAXES
| Parcel Number | 31-3310-031000 | Improvements Assessment | $655,984 CAD |
| Land Assessment | $92,614 CAD | Total Assessment | $748,599 CAD |
PROPERTY TAXES
Parcel Number
31-3310-031000
Land Assessment
$92,614 CAD
Improvements Assessment
$655,984 CAD
Total Assessment
$748,599 CAD
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Ward Cove Marketplace Center | 7196/7198/7204 North Tongass Hwy
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