Founded by Gabriel Maldonado in 1951, back when the Mission District was primarily an Irish and Italian working-class neighborhood, La Victoria Bakery was the first Latino-owned business on the 24th Street corridor.
The panaderia moved across the street to its current location at 2937 24th Street, a corner building with three storefronts and three apartments which is still owned by the Maldonado family, in 1955.
And having quietly tested the waters without a set price, the corner building, which sits on a parcel which is zoned for development up to 45 feet in height, is now on the market with a $3.4 million price tag and touting “an ideal mixed-use rental or condominium redevelopment” opportunity.
While the sale doesn’t include the bakery business, the panaderia’s 3,400-square-foot space will be delivered without a long-term lease. In addition, the 600-square-foot Texi’s Jewelry shop space is on a month-to-month lease, the 700-square-foot Geminis Barber Shop lease expires in 2020 and two of the three apartments above the storefronts are currently vacant.