Listed for $2.4 million in July and reduced to $1.9 million after a week, the sale of the former Streetlight Records building at 2350 Market Street has closed escrow with a reported contract price of $1.85 million.
Delivered vacant by the owner of the store and building, after 35 years in business on Market and with a property tax basis of $389,454 last year, the site is a prime candidate for redevelopment as it’s zoned for development up to 65-feet in height.
That being said, the existing two-story building does fall withing the “Upper Market Street Commercial Historic District Extension” and was originally constructed around 1900. We’ll keep you posted and plugged-in.
Exploratory plans for opening a medical cannabis dispensary on the site were thwarted by its proximity to the Randall Museum which primarily serves persons under 18 years of age.