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1251 Park Street, Alameda, California 94501, Alameda, - bed, bath

home-pic
ACTIVE$1,500,000
1251 Park Street, Alameda, California 94501
0Bed
0Bath
3,316Sqft
4,965Lot
Year Built
1913
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82023903
Home ConditionTear down
Features
View-

About this home

Great Opportunity for Contractor, Builder, Owner Occupied or Investment / A Resolution of the Planning Board of the City of Alameda Approving Design Review Application to Allow Construction of a New 3,316 Sq. Ft. Mixed-Use Two-Story Building at Total Lot of 4,965 Sq. Ft. / With One Retail Unit (1st Floor) and Two Residential Units (2nd Floor) / 1,571 Sq. Ft. (1st Floor) and 1,677 Sq. Ft. (2nd Floor) / Previous Use: Dimitras Sandwiches To Go / Zoning: C-C-T (Community Commercial and Theater Combining Zoning District) / Rare Property With Big Private Parking Lot at Park St. / Located in the Heart of Alamedas Shopping District / Excellent Access to I-880 and State Route 61 / Within One Mile to South Shore Center and Beach / One Block to Chochenyo Park / Unique Opportunity Offers Lots of Possibilities

Nearby schools

6/10
Henry Haight Elementary School
Public,•K-5•0.6mi
9/10
Donald D. Lum Elementary School
Public,•4-5•1.0mi
8/10
Franklin Elementary School
Public,•K-5•1.0mi
5/10
William G. Paden Elementary School
Public,•K-5•2.3mi
5/10
Will C. Wood Middle School
Public,•6-8•0.9mi
9/10
Alameda High School
Public,•9-12•0.2mi
7/10
Encinal Junior/Senior High
Public,•6-12•2.5mi

Price History

Date
Event
Price
10/05/25
Listing
$1,500,000
Condition Rating
Tear down
The property was built in 1913, making it over 100 years old. The images clearly show a dilapidated commercial structure with peeling paint, barred windows, and general disrepair, indicating it is beyond repair for modern use. The listing description explicitly states that the sale includes approved plans for the 'Construction of a New 3,316 Sq. Ft. Mixed-Use Two-Story Building,' which implies the existing structure is intended for demolition. The value is in the land and development potential, not the current building's condition or habitability.
Pros & Cons

Pros

Approved Mixed-Use Development Plan: A significant advantage is the pre-approved Design Review Application for a new 3,316 sq. ft. mixed-use building (retail + two residential units), streamlining the development process for contractors and investors.
Prime Commercial & High-Traffic Location: Situated in the 'Heart of Alameda's Shopping District' with C-C-T zoning, ensuring high visibility and strong commercial potential for the retail unit.
Rare Private Parking Lot: The inclusion of a 'Big Private Parking Lot' on Park Street is a substantial asset in a dense commercial area, offering convenience for future tenants and customers.
Excellent Transportation & Regional Access: Provides 'Excellent Access to I-880 and State Route 61,' facilitating easy commutes and regional connectivity for residents and businesses.
Proximity to Key Amenities & Top Schools: Within one mile of South Shore Center and the beach, one block from Chochenyo Park, and near highly-rated Alameda High School (rating 9), enhancing its appeal for future residents.

Cons

Substantial Development Capital Required: The opportunity necessitates significant financial investment for the construction of a new 3,316 sq. ft. mixed-use building, as it is not a ready-to-occupy property.
Extended Timeframe for ROI: As a development project, realizing returns on investment will require an extended period for construction completion, lease-up, or sales of the new units.
Demolition & Site Preparation Costs: The existing 1913 structure and previous commercial use imply potential demolition and site preparation expenses, adding to the initial project costs and complexity.

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