1321 Park Street, Alameda

Click the arrows next to the image to browse our photo gallery for this property.

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 space

for additional income. The 3 retail tenants are on year 2 of their 5 year NNN leases with 3-5% increases per year and option

periods 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 and

vehicle 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% cap

rate with actual and realistic expenses included. With

moderate improvements a savvy investor could reap

the benefits of a realistic pro forma 8% cap rate.

Contact our team to see favorable financing options

and start cash flowing this trophy asset today.