1317 Park St, Alameda, CA 94606 (MLS # SB23022946)

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PRICE $3,650,000 dsIDX morgage calculator
SIZE 7,328 sqft
LOT SIZE 6,404 sqft

We are pleased to present this unique commercial property in Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style residential units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared spaces could be updated to increase rents even further. The 3 retail units are on NNN leases with 3-5% increases per year and option periods of 5 years. The Downtown location of central Alameda makes this an ideal retail location with many new and historic businesses surrounding the immediate neighborhood with a very large foot and vehicle traffic count of 14,000 per day.The property is currently operating at a 4.84% cap rate with actual expenses included. With moderate improvements a savvy investor could reap the benefits of a realistic pro forma 7.25% cap rate. One residential unit is currently vacant and one retail unit is undergoing remodeling on the tenants behalf. This is an excellent opportunity for an investor looking to add value and capitalize on the growing commercial and residential East Bay market.

DAYS ON MARKET 41 LAST UPDATED 2/28/2023
COUNTY Alameda STATUS Active
PROPERTY TYPE(S) Commercial

PRICE HISTORY
Prior to Feb 28, '23 $3,950,000
Feb 28, '23 - Today $3,650,000


ADDITIONAL DETAILS
LOT 6403 sq ft
LOT DESCRIPTION 0-1 Unit/Acre
TAXES 45625
WATER Public
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with West Shores Realty, Inc.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from CARETS as of 3/21/23 6:55 PM PDT. The information being provided by CRMLS & CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

This IDX solution is (c) Diverse Solutions 2023.

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