1251 Park Street, Alameda, California 94501, Alameda, 94501 - bed, bath
1251 Park Street
Alameda, California 94501
Property Price
SUMMARY
Analysis of 1251 Park Street, Alameda, California 94501 is currently available with a list price of $1,500,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Alameda Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
OVERALL CONDITION SCORE
Property is land value only, full reconstruction required.
The property was built in 1913 and is explicitly marketed as a development opportunity, with an approved design for a *new* mixed-use building. The listing description states the existing structure is 'very old, likely requiring complete demolition or extensive, costly renovation.' Images show a dilapidated commercial building with no visible or implied habitable residential features (kitchen/bathroom) in a functional state. The value is clearly in the land and its redevelopment potential, not the current structure.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Donald D. Lum Elementary School (9/10). High School: Alameda High School (9/10).
- Pre-Approved Mixed-Use Development
The property includes an approved design review application for a new 3,316 sq. ft. mixed-use building (one retail unit, two residential units), significantly de-risking and accelerating future development.
- Premier Commercial District Location
Strategically situated in the heart of Alameda's vibrant shopping district with C-C-T zoning, ensuring high visibility and strong commercial potential.
CONSRISKS & DEFICIENCIES
- Age of Existing Structure
Built in 1913, the existing building is very old, likely requiring complete demolition or extensive, costly renovation before the new development can proceed.
- Capital-Intensive Development
While the design review is approved, the construction of a new 3,316 sq. ft. mixed-use building represents a substantial capital investment and requires significant project management, potentially limiting the buyer pool.
- Current State as a Blank Canvas
The property's value is largely tied to its development potential rather than its current 'as-is' state, meaning immediate income generation is unlikely without significant upfront work.
About 1251 Park Street
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
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1913
- Lot Size
- 4,965 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Alameda Unified Schools
Henry Haight Elementary School
Grades K-5 • 0.6 mi
Donald D. Lum Elementary School
Grades 4-5 • 1.0 mi
Franklin Elementary School
Grades K-5 • 1.0 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1913 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Pricing History
Listed for Sale
Oct 5, 2025
$1,500,000
Initial Listing