1321 Park Street, Alameda, CA 94501

Austin Longwell of West Shores Realty and ChrisScholfield of Lee & Associates are pleased to presentthis unique commercial property in the center ofDowntown Alameda. The property consists of 3strong performing retail stores with prime Park streetfrontage and 10 dormitory style SRO units above.The residential units share a coin operated laundrysite, kitchenette space, and 4 bathrooms. The sharedlounge area could be updated or converted into anoffice rental, bathroom, extra unit, or storage spacefor additional income. The 3 retail tenants are on year 2 of their 5 year NNNleases 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.