507 1st Street, Cordova, AK 99574

Property Description

Prime Downtown Cordova Commercial Opportunity Rarely does a commercial property in the heart of downtown Cordova become available with this combination of location, flexibility, and recent capital improvements. Ideally situated on First Street, this well-maintained building offers exceptional potential for investors seeking reliable income, business owners planning a future headquarters, or buyers looking for a long-term redevelopment opportunity. The property is currently leased through May 2027, providing immediate cash flow while allowing a future owner ample time to plan for owner occupancy or repositioning. Whether you're expanding your investment portfolio or securing a strategic commercial location, this property offers both stability today and flexibility for tomorrow. A standout feature is the elevated seating area overlooking Cordova Harbor. These picturesque waterfront views create a welcoming atmosphere for customers, clients, or employees and are a rare amenity in the downtown commercial market. Extensive Capital Improvements (Completed in 2022) Ownership has made significant investments to modernize the building and minimize future maintenance, including: Complete electrical system upgrade Extensive interior renovations and finish improvements New commercial-grade flooring throughout Replacement windows New Toyo boiler heating system Added attic and subfloor insulation for improved energy efficiency These thoughtful upgrades significantly reduce near-term capital expenses while enhancing the building's efficiency, comfort, and long-term performance. Located in one of Cordova's most desirable commercial corridors, this property combines a proven income stream, quality improvements, outstanding harbor views, and exceptional future potential. Opportunities like this are uncommon—whether you're an investor, entrepreneur, or owner-user, this property is well-positioned to meet a variety of commercial goals.