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    2 Monterra Ranch Rd Monterey, CA 93940

    View on Map
    Sponsored
    For Sale
    $5,200,000

    Residential Lots & Land - MONTEREY, CA

    Lot size:
    114.43 Acres
    Days on Market:
    37
    Last Refresh:
    Mar 6 at 4:06 pm

    Property Features for 2 Monterra Ranch Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RDR10­UR­DRDRB­6­UR­D­S
    Lot size
    114.43 Acres

    Taxes and HOA fees

    Expense value
    490
    Expense
    Home Owner Assessments Fee

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alex Brant
    Alex Brant

    Compass (212) 913-9058

    Listing agent Alex Brant (831) 318-0150 License #01900460

    Listing date Jan 29, 2026

    MLS# ML82015339 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Estate-Scale Parcel in Gated Community

    Located within the gated community of Monterra, just 15 minutes from the Monterey Airport and Jet Center, this 114.43-acre estate-scale parcel offers size, privacy, and separation on the Monterey Peninsula. The acreage supports a legacy estate, accommodating multiple residences, guest structures, and a collector garage. Originally conceived by Clint Eastwood and architect Alan Williams, Monterra was designed as a low-density, land-driven community. A private, mile-long approach road winds through a natural canyon to the primary building site with views across Carmel Valley, Tehama Golf Club, and Monterey Bay. The property includes two large building envelopes of approximately 10.06 and 14.44 acres with up to five potential homesites and backs directly to Jacks Peak Park, preserving open land. Water and electricity are available nearby, with potential for solar and battery storage. Ownership includes eligibility for a Tehama Social Membership with access to dining, fitness, pools, tennis, and private events, and golf members enjoy a private Carmel Valley gate. This property presents an opportunity to create a generational estate near Carmel, Pebble Beach, and the Monterey Peninsula coastline. The zoning is RDR10­UR­DRDRB­6­UR­D­S.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Dental Office Building Supply Law Firm Big Box & Wholesale Store Auto Repair Shop Nail Salon Kitchen & Bath Showroom Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.835874
    Latitude
    36.570013

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    FAQs

    What type of property is this?
    Land - 114-acre estate parcel with development potential in Monterra.
    Where is this land located?
    The property is located at 2 Monterra Ranch Rd Monterey, CA.
    What is the asking price?
    The asking price for this property is $5,200,000.
    What are key features of this property?
    This property features: - Estate-scale 114-acre parcel offering rare size, privacy, and separation on the Monterey Peninsula.; - Two large building envelopes (10.06 and 14.44 acres) with up to five potential homesites.; - Private, mile-long approach road and expansive views across Carmel Valley, Tehama Golf Club, and Monterey Bay.
    (831) 264-3870
    Request Owner's contact information
    2 Monterra Ranch Rd Monterey, CA 93940
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    Monterey, CA 93940
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Monterra Ranch Rd Monterey, CA 93940
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    We can help!
    Listing Contact
    Alex Brant
    Alex Brant
    Real Estate License ID: 01900460
    (831) 264-3870 (831) 318-0150
    Learn more
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