Address: |
view address Alameda, CA 94501 Map Location |
Features: | Multi-level |
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Square Feet: | 7,328 sq.ft. | Lot Size: | 0.15 acres |
Year Built: | 1910 | Property Type: | Mixed Use |
County: | Alameda | List Date: | 2024-04-01 |
Listing Number: | SB24064103 | Listed By: | West Shores Realty, Inc. |
Listing Office: | 626-408-4420 | Days on market: | 40 |
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.
Lot Acres: | 0.15 | Lot Number: | 11.00 |
Lot Sqft: | 6,403.00 | Public Sewer: | Yes |
Public Water: | Yes | Transaction Type: | Sale |
Year Built: | 1910 |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.