Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 E Pronghorn Run Carmel, CA 93923

    Sponsored
    For Sale
    $1,875,000

    Residential Lots & Land - CARMEL, CA

    Lot size:
    22.55 Acres
    Days on Market:
    250
    Last Refresh:
    Feb 13 at 1:06 am

    Property Features for 23 E Pronghorn Run

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Gate
    Zoning
    RD-1
    Exterior features
    Concierge, Other
    Fencing
    Gate
    Lot size
    22.55 Acres

    Taxes and HOA fees

    Expense value
    2977
    Expense
    Home Owner Assessments Fee

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Guthrie
    Lisa Guthrie

    Compass (212) 913-9058

    Listing agent Lisa Guthrie (831) 318-0150 License #01250803

    Listing date Jun 9, 2025

    MLS# ML82010274 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

    Golf Course Residential Lot

    This exceptional 22.55-acre golf course property presents a rare opportunity in a uniquely beautiful setting. The residential lot offers direct access to the Preserve Golf Club's Tom Fazio-designed course. A short driveway leads to the 2-acre building envelope, winding past the tee box of the 18th hole, with views of the fairway and the Santa Lucia Mountains. The Preserve Golf Clubhouse and first tee are a short walk or cart ride away. Located in the Santa Lucia Preserve, a private, gated community, the property offers access to 100 miles of private trails for hiking, biking, and horseback riding. Membership in the Preserve Golf and Ranch Clubs provides access to golf, equestrian and sports facilities, an 18-acre lake, and a historic 1920s Hacienda for lodging, dining, year-round events, and summer camps. This parcel allows for a main residence, guest house, and ADU. Water, sewer, fiber-optic communications, and utility conduits have been brought to the building envelope to ease construction. The property is zoned RD-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Golf courses & driving ...

    Map

    City
    Carmel
    County
    Monterey
    State
    California
    Longitude
    -121.786486
    Latitude
    36.4484379

    Nearby Similar for Sale

    • $1,050,000
      3,518 SF

      Carmel Retail Ground Lease Opportunity

      Ground lease with improvements in downtown Carmel, California.
      Mission St, Carmel, CA 93923
      View Details
    • $6,000,000
      3,030 SF

      Iconic Highway 1 Retail Opportunity

      Established fuel and general store business with gallery building.
      29251 Highway 1, Carmel, CA 93923
      View Details
    • $1,050,000

      Carmel Retail Ground Lease Opportunity

      Ground lease with improvements for sale in downtown Carmel.
      Mission St, Carmel, CA 93923
      View Details
    • $6,700,000
      33,966 SF

      Carmel Rancho Office Building

      33,966 SF office building in Carmel Rancho Commercial District.
      3785 Via Nona Marie, Carmel, CA 93923
      View Details
    • $1,395,000
      3,518 SF

      Carmel Retail Ground Lease Opportunity

      Prime Carmel location, 3,518 sq ft retail space.
      0 Msn St 2, Carmel-by-the-Sea, CA 93921
      View Details

    FAQs

    What type of property is this?
    Golf course & driving range - 22+ acre residential lot with golf course access.
    Where is this golf course & driving range located?
    The property is located at 23 E Pronghorn Run Carmel, CA.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: - Direct access to the Preserve Golf Club's Tom Fazio-designed course.; - 22+ acre property with a 2-acre building envelope allowing for a main residence, guest house, and ADU.; - Expansive views of the 18th fairway and Santa Lucia Mountains.
    (831) 238-5725
    Request Owner's contact information
    23 E Pronghorn Run Carmel, CA 93923
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23 E Pronghorn Run
    Carmel, CA 93923
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    23 E Pronghorn Run Carmel, CA 93923
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lisa Guthrie
    Lisa Guthrie
    Real Estate License ID: 01250803
    (831) 238-5725 (831) 318-0150 (831) 620-6762
    Learn more
    Google sign-in failed. Please try again or use another login method.