Commission requests appraisal and more analysis before deciding fate of historic 2300 Third Street station

The Police Commission discussed the possible sale or lease of the historic old Bayview/Potrero police station at 2300 Third Street on June 11 and asked real estate staff to provide a formal appraisal and financial analyses before any direction is given.

John Updike (identified in the record as the real estate director) told the commission the property had been damaged by a fire and has long-standing issues including water infiltration, vermin infestation, friable asbestos and lead paint. He said cost estimates to abate hazards and make the building safe to enter and market range from about $123,000 to $210,000.

Updike said community and nonprofit respondents told staff that financing a lease would be challenging given the capital lift required; potential purchasers expressed more interest. As a point of comparison, Updike referenced a recent nearby sale of a historic fire station that yielded roughly $1.3 million net proceeds two years earlier and suggested that with market movement the asset could be in the vicinity of $2 million, while stressing the need for a third-party appraisal and pro forma modeling of lease vs. sale scenarios.

Commissioners asked about the commission's role versus the Board of Supervisors, preservation restrictions (a deed restriction consistent with Secretary of the Interior standards was discussed as a likely tool to protect exterior appearance), seismic and vacant-building liabilities, and the possibility of deed stipulations to secure community space if redevelopment proceeds. The commission agreed to have real estate staff return in roughly 4'6 weeks with a formal appraisal, updated cost estimates and lease/purchase pro formas.

Public commenters urged preservation and community-oriented reuse of the structure rather than demolition and residential redevelopment.