Commercial Kenai River Property

Kenai Peninsula Borough , Alaska
N/A | 24 ± total acres

Commercial Kenai River Property

Kenai Peninsula Borough , Alaska


Undoubtedly the most intriguing property on the world-famous Kenai Peninsula. Formerly known as Great Alaska Adventures, this prime 24-acre tract of commercial real estate sits at the confluence of the famed Kenai and Moose Rivers. Offering over 900 feet of private river frontage, 1,600 feet of highway frontage, and 18,500 sq feet under roof, the opportunities for the next owner are limitless. 

  • 24 +/- acres zoned rural unrestricted 

  • 18,500 square feet under roof

  • Real estate can be developed further for commercial and residential uses 

  • 1,600+ feet Highway frontage cornered by the secondary arterial street

  • 900+ feet river frontage for featured boat and float plane access

  • 27 executive style rooms with private baths

  • Employee Housing on property for up to 35

  • Commercial Kitchen and Dining Hall

Facilities and Lay of the Land

The main entrance to the expansive lodge facilities is located directly off the Sterling Highway, the only road connecting Anchorage to the Kenai Peninsula. A convenient looped and well-graveled road invites you to the nicely appointed lodge, dining, and check-in areas. The high bluff overlooking the confluence of the two rivers has been thoughtfully built-out with executive suite style guest rooms and cabins that can accommodate everyone from single travelers to families and large corporate groups. Each room opens to incredible views of the water and Kenai Mountains in the distance. Extensive decks, boardwalks, and trails summon guests to nooks of outdoor gathering places and comfortable accommodations. The commercial kitchen and large dining room nestled above one of the Kenai River’s most impressive oxbows is perfect for social hours and guest dining. It doesn’t take much imagination to see how a new owner could re-purpose the improvements for a variety of profitable business ventures such as a full-service hotel, conference center, and restaurant.

Homesteaded in 1947

Homesteaded by a member of the current owner’s family in 1947, the family and property have a long history of sharing Alaska with others. Born on a whaling ship between Alaska and San Francisco Walt Pederson had a love of adventure from a young age. After returning from WWII, Walt began his career as a float plane pilot bringing folks down from Anchorage to survey land for homesteading on the Kenai Peninsula. As a pilot, he had his eye on this incredible property at the confluence of the Kenai and Moose Rivers where the calm waters of the Moose River offered the perfect landing spot for his beloved Super Cub float plane.

In late 1947, Walt moved onto the homestead where he operated his air taxi business taking off from the Moose River on floats in the summer months and skis during the winter. Folks traveled from as far aways as Germany and Walt would fly them down from Anchorage (there was not a road, remember!) and house them in the old “shelter cabin” which was an old log cabin used by the dog mushers on the overnight mail run between Seward and Kenai. Since those early homesteading days, the property has remained in the same family, first becoming a popular campground for many local Alaskan’s traveling to the Peninsula to fish the famous Kenai River salmon runs. Canoe rentals were also offered, and campers were given access to fish in the river for $1.00 per day. In 1981 Great Alaska Fish Camp was formed merging the Pederson and John families together who still share in the ownership today. By 1983, Great Alaska Fish Camp was open for business and began hosting clients from around the world. The 1980s saw a lot of growth at the lodge as more land was cleared and additional cabins and structures were built on site. Facility growth continued into the 1990s and early 2000s when the last cabin was built in 2007. The 2000s saw a boom for Great Alaska lodging, fishing, and tourism as their reputation as being one of the top lodges in Alaska spread globally. After the 2021 season, the owners decided it was time to retire and spend more time with their families. They are grateful to have had the opportunity to own the lodge for over four decades and more importantly, feel especially thankful for the thousands of relationships with clients, guides, and employees that were formed at the lodge on the banks of the Kenai and Moose Rivers


Formerly Great Alaska Adventures, the Kenai and Moose River frontage has been developed with over 18,500 square feet under the roof. This investment grade property is ideal for additional real estate growth on its huge tract of undeveloped land. The Kenai Borough Planning Department zoning is very basic with properties outside the city limits being zoned Rural Unrestricted. The Borough Planner has confirmed with the Seller that the entire 24 acres of real estate can be developed further for uses such as residential housing, retail, or other.

A business plan could capitalize on its large growth potential by using the existing hotel, restaurant, and waterfront as services and recreational amenities. The footprint of the adventure lodge is situated on only a small portion of the western side of the property leaving a large chunk of real estate to the east available for planned development. The topography is ideal with the vast majority of the property positioned on the relatively flat bluff overlooking the river.

Potential buyers should know that the facilities at this time are designed for seasonal use and are winterized each year. If a new owner chooses to operate year around, some relatively minor modifications would need to be done to the plumbing system in place.

The new owner also has the opportunity to step into the shoes of the owner/operator of the Adventure Lodge, Kent John. This can be done through a separate purchase of the business goodwill, client list, recreation equipment, coupled with a personal service agreement with Kent John himself to ease the transition.

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The seller and seller’s agent are making known to all potential purchasers there may be variations between the deeded property lines and the location of the existing fence lines. Seller and seller’s agent make no warranties with regard to location of the fence lines in relationship to the deeded property lines, nor does the seller and seller’s agent make any warranties or representations with regard to specific acreages. Seller is selling the property in an “AS IS” condition, which includes the location of the fences, as they exist. Boundaries shown on any accompanying maps are approximate, based on county and state parcel map data. Prospective Buyers are encouraged to verify fence lines, deeded property lines, and acreages using a licensed surveyor at their own expense. Maps are not to scale and are for visual aid only. The accuracy of the maps and information is not guaranteed.