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38120 Great Land Sterling, AK 99672

  • 6,444 sqft
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Commercial-Active $ 998,000

MLS#: 18-12349

Courtesy of: EXP Realty, LLC

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Exclusive Kenai Magic Fishing Lodge! Sellers are including business, clientele list, websites, 6 months mentoring and history of established success. This property features a 1540 sq. ft. main lodge, 6 additional luxury log homes (43 beds),2 staff quarters buildings, 2 storage sheds, and 30 X 40 dining hall. Furniture & Fixtures costing sellers $359,463.00 are only $100,000.00 on a separate bill of sale. Sellers loss and your gain! You will love and enjoy the Alaskan Scenery landscaping with pathway to the FAMOUS KENAI RIVER on 1.67 ACRES. This top-notch resort offers dramatic breath taking views of the Famous Kenai River, Mountains and abundant wildlife. This LOCATION is perfect with a great history of 25 years creating customer satisfaction located central to all the diversified guided options available. You can calm yourself and relax while tucked away in a secluded setting surrounded by Alaskan wildlife and wilderness providing you the home away from home experience. Everything the clients seek and desire in their Alaskan experience brings them back time and time again. Clients rave about the peace and enjoyment while at the lodge and always get a kick out of the world-class fishing in the river along the front of the property. Fish cleaning tables are provided for their clients added experience. Kenai Magic offers excursions and guided trips sending you established fishing lodge business with a 43-client capacity per day. Kenai Magic offers fly out and chartered site seeing/fishing trips to meet client's needs. Also, offers local drive to fishing charter services to the Kenai and Kasilof Rivers for salmon, and trout. Kenai Magic prides themselves in offering adventures in Zip Lining, Helicopter trips, seal life tours and saltwater fishing charter services for Halibut, Cod, and rock fish! Kenai Magic Lodge strives to guarantee a good time while in the big AK. Listen to the river run in a serene setting sipping your cocoa in front of the fire pit creating yourself a truly relaxing memorable time. This is what makes the Kenai Magic Lodge #1 in customer satisfaction. They care about their client's time and time again bringing a referral stream that is out of this world. What a stellar reputation to carry on in ownership. This is an amazing opportunity to gain equity while having fun. Entire property and well-built efficient buildings gleam with pride in ownership featuring a main lodge and 6 log homes fully furnished with high end custom made Alaskan furnishings. Award winning style and decor provides you the Alaskan comfort, theme and added experience. Additionally, each log home offers a full kitchen, laundry facility, full bathroom, with open concept space saving designs. Recent modern updates throughout include concrete or stainless modern design counter tops, oversized welcoming decks, large rock nature pathways and trails, exotic flower gardens, and newer water filtration system, engineered commercial well and septic, DSL internet. YOU also have the ability to make additional revenue in the new 30 by 40 dining hall by catering weddings or company events. You can segregate the area to offer more rentals or beds for large groups. The cedar sided interior, soaring ceilings, over-sized windows, grand entrance and polished concrete floors impress, entertain and sustain a large group. You could use this area for a oversized shop, gym or even a dance floor. Peace in mind, this lodge is in a fire service area and on an all year gravel borough maintained road. This is NOT a seasonal subdivision giving you all year use and income opportunity. This property also qualifies for lots of cost sharing incentive programs through the governing agencies. You would need to call the Kenai River Center to see the latest programs, regulations and guidelines. Endless possibilities for this UN-ZONED property. You will be amazed how easy it may be to make this dream resort a reality. Kenai Magic generates 75% of their guests from both return customers and their website that gets an average of 300 hits per day. The remainder of their business comes from other online booking agencies. POTENTIAL INCOME BELOW FROM SELLER SUMMER INCOME/ON SEASON Kenai Magic Lodge has a four-month "hot" season for the daily rentals from middle of May through the Middle of September. Maximizing your marketing provides an average of 75% to 80% daily occupancy. We have the main Lodge and six luxury log home rentals. The rental rate per luxury log home per night varies based upon occupancy. On average, each luxury log home brings in around $300.00 a night. Summer Gross income potential is averaging $162,000 (120 days x 75% occupancy x 6 luxury log homes x $300/night average= $162,000). Guide services pay a 20% referral fee for services offered. 2 to 3 clients will spend on average $1000 a week in activities. This provides Kenai Magic Lodge $12,000.00 a summer in referral fees (per seller). WINTER INCOME/OFF SEASON Main lodge (3 story stick frame building Built in 1992) winter market rents are $1000.00 a month with tenant preforming all maintenance costs to the property. This arrangement worked best for us because we live so far from the lodge and we operate/stay in the lodge only in the summer. 2 of the luxury log homes market rent at $1000.00 a month. Seven months' winter rentals. The main lodge building gross winter revenue is $7,000.00 in off season rental income with all plowing and maintenance taken care of by the tenant. Each luxury log home provides $7,000.00 off season rental income. Total current winter gross is $21,000.00. Only 2 of the smaller log homes (#1 Built in 1995, #2 Built in 1993 per seller) can be rented in the winter time. The other 4 log homes (#3-#4-#5-#6 Built in 2001), once they are skirted at the bottom and water lines are finished can be year round rentals. This upgrade/renovation is estimated at $6,000.00 per cabin and could gain you 4 more log home rentals for the off season; $28,000.00 more revenue (per seller). OTHER WAYS TO GENERATE REVENUE FROM SELLER 1-Kenai Magic Lodge has offered meal service in the past at various times. How much you can make on that service again depends on how much of the work you do yourself and what you feel that service is worth to your clients. Clarissa is an excellent chef and enjoys preparing gourmet meals so she added a significant revenue from that service. You can determine the rates you feel you can charge to benefit you in adding this service to your clients. 2-The potential to expand the business beyond that set out by building more log homes, expanding the season (winter referral or in-house activities?) or expanding the services offered (meals, cruises, trips to Denali etc). 3- If you were a in house fishing guide or hunting guide this would bring in more revenue. We enjoy networking with the local guides and gaining a referral fee from the services our clients use through them. Generally, the guide services will pay a 20% commission based off the services the client selects. If you provided these services that we refer out, you gain 80% of the potential. Again, depending on occupancy, each cabin will average from $2,000 to $3,000 per week (2 to 3 guys spending $1,000/week each for activities). We have a select list of guides we use that we know will give the clients a great experience. If you chose to provide those services "in-house" you can gain the potential to add an additional $40,000 to $60,000 per season ($2,500 /week x 16 weeks x 6 cabins x 20% commission = $48,000). If the owner provides in house guide service, there will be certain additional expenses associated with that such as gear etc. 4-The other 4 luxury log homes built in 2001 (#3-#4-#5-#6); once they are skirted at the bottom and water lines are finished for winter use. This upgrade/renovation at a cost of $6,000.00 could gain you 4 more log home rentals for the off season; $28,000.00 (per seller). EXPENSES FROM SELLER You should know we all have employment we enjoy outside of the lodge. We ran the lodge as a second income working and growing our family run business. We truly enjoy being in the business and building the business capital with our profits. Everywhere you look shines pride in ownership. We used all the profits we made and invested back in to growing the business capital. This is what empowered us to grow our assets and capital to where they are today. Like many businesses we could deduct various allowable expenses on our taxes. The business expenses were managed in a way to show minimal profits and, if possible, show losses for overall tax planning purposes. Expenses specific to the property are Property Taxes $7,875.84, Property Insurance $4,000.00, Utilities (gas & electric)$4,000.00 est., Phone $2,000.00, Repairs/Maintenance $8,850.66, Licenses/Permits $402.66. The adjacent lot with access off Rippa Ct offers .92 acres and it is also for sale. The address is 33961 RIPPA CT Sterling Alaska. Legal; T 5N R 8W SEC 7 Seward Meridian KN 2006035 RIPPA SUB LOT 5; TAX ID#06501305.This lot does come with a private dedicated shared river front easement within the Rippa Subdivision to access the river front for only the lots within the Rippa subdivision. This easement is noted on the recorded Plat for the Rippa Subdivision. The sellers stated they would like $79,000.00 for the adjacent lot to be written on a separate bill of sale.The adjacent lot is zoned for residential only so you can have a residence but can not have commercial use on it. Easy to show-Call today!


    Contract Info

  • 5000
  • No

    Location, Tax and Legal

  • 1 - Southcentral Alaska Region
  • N/A
  • N/A
  • T5NR8WS7 Seward Meridian KN Govt L14 The North 110 Ft Thereof,Rippa L5
  • 7875.8

    Property Info

  • Commercial
  • Existing Structure
  • Class A
  • Owner Occupied
  • 50

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