1321 Park Street

1321 Park Street Alameda, California 94501 Estados Unidos

We are pleased to present this unique commercial property in the center of Downtown Alameda. The property consists of 3 strong performing retail stores with prime Park street frontage and 10 dormitory style SRO units above. The residential units share a coin operated laundry site, kitchenette space, and 4 bathrooms. The shared lounge area could be updated or converted into an office rental, bathroom, extra unit, or storage spacefor additional income. The 3 retail tenants are on year 2 of their 5 year NNN leases with 3-5% increases per year and optionperiods of 5 years. The centralized downtown Alameda location is within a 5 minute walk to many of the city's new and historic businesses, restaurants, landmarks, and cafes making it a near perfect location with a walk score of 98. Robust foot andvehicle traffic counts over 25,000 per day provides excellent business for retail tenants while easy access to BART stations makes this property a convenient location for commuters into the greater Bay Area.The property is currently operating at a 6.19% caprate with actual and realistic expenses included. Withmoderate improvements a savvy investor could reapthe benefits of a realistic pro forma 8% cap rate.Contact our team to see favorable financing optionsand start cash flowing this trophy asset today.

Listing Courtesy of West Shores Realty, Inc., Email/Phone : 626-408-4420

The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.