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590 Del Monte Avenue

Monterey, CA 93940
  • $1,299,000
  • STATUS: Active
  • ON SITE: 45 Days
  • ID#: ML81867652
UPDATED: 22 min ago
$1,299,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,400
    SQFT
  • $155
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2003
County:

School Ratings & Info

Description

Located close to Downtown Monterey, Fishermans Wharf, and many more desirable amenities, this site offers 8,400sf of flat usable space with a 1,090sf building, currently occupied by a dental office. Tenant has a two-year lease with an option for five more. Rents are below market due to a massive $300,000 remodel performed by the current tenant. 2.9% Cap Rate at current rents. Upside opportunity for investor or developer. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.

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Bay East ©2021. CCAR ©2021. bridgeMLS ©2021. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2021-12-06T11:38:32.18.

www.stevebhalla.com/homes/122649408
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590 Del Monte Avenue Monterey, CA 93940

  • Price: $1,299,000
  • Status: Active
  • On Site: 45 Days
  • Updated: 22 min ago
  • ID#: ML81867652
0
Beds
0
Baths
0
½ Baths
0.19
Acres
8,400
SQFT
$155
$/SQFT
2003
Built
Neighborhood:
Downtown/Fisherman Wharf
County:
Monterey
Area:
Downtown/Fisherman Wharf
Property Description
Located close to Downtown Monterey, Fishermans Wharf, and many more desirable amenities, this site offers 8,400sf of flat usable space with a 1,090sf building, currently occupied by a dental office. Tenant has a two-year lease with an option for five more. Rents are below market due to a massive $300,000 remodel performed by the current tenant. 2.9% Cap Rate at current rents. Upside opportunity for investor or developer. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.
Exterior Features

Parking Spaces Total 8 Roof Composition Shingles

Interior Features

Heating Forced Air 1 Zone

Property Features

Annual Taxes 6852 Building Type Comm Ind For Sale Net Operating Income 30348 Tenant Expenses ElectricGasSewerTrashWater Tot Bldg Sq Ft 1090 Utilities Public SewerPublic Water Zoning Pc-P

Listing courtesy of The Ruiz Group of Kw Coastal Estates.


Bay East ©2021. CCAR ©2021. bridgeMLS ©2021. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2021-12-06T11:38:32.18.

 
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