Corner Retail Building with
299 Lighthouse AVE Monterey, CA 93940
For Sale
$3,800,000
COMMERCIAL - MONTEREY, CA
Property Size16,000 SF
Lot Size0.21 Acres
Price / SF$237.50
Days on Market22
Property Features for 299 Lighthouse AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking features
On Street
Standard status
Active
Lot size
0.21 Acres
Utilities
Heating system
Central, Natural Gas, Forced Air
Water source
Private
Building Details
Year built
1964
Flooring type
Carpet, Linoleum
Roof type
Composition, Shingle
Listing Agency:
KW Coastal Estates
(831) 622-6200
Listed By:
Monterey Peninsula Home Team · License #70000352
(831) 594-3290
Added: Jul 8
Changed: Jul 28
Last Checked: Jul 29 at 4:06PM
MLS# ML82053558
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.
Investment Insights
Based on property information with market context.
This for-sale retail building offers an almost 16,000 SF footprint on a compact 0.2066-acre lot, positioned for storefront operations. The property is currently operating as a furniture retailer, and includes a roll-up loading door accessed from a side street, supporting day-to-day receiving and deliveries. Zoning is listed as Comm, and the building can be considered for an owner-user approach or for potential redevelopment based on the site and improvements.
The building is situated on a major Monterey thoroughfare at a busy corner location at the intersection of Lighthouse Ave and Dickman Ave. This corner positioning is typically useful for retail visibility and customer access, with the loading functionality separated to a side street via the roll-up door.
For tenants or buyers, the property’s current configuration aligns with furniture-style retail use, while the Comm zoning and existing improvements also provide a basis to explore alternative retail concepts or a redevelopment plan. Prospective owner-users and investors can evaluate the building both as-is and as a redevelopment candidate, factoring in the corner frontage and the practical side-street loading access.
The building is situated on a major Monterey thoroughfare at a busy corner location at the intersection of Lighthouse Ave and Dickman Ave. This corner positioning is typically useful for retail visibility and customer access, with the loading functionality separated to a side street via the roll-up door.
For tenants or buyers, the property’s current configuration aligns with furniture-style retail use, while the Comm zoning and existing improvements also provide a basis to explore alternative retail concepts or a redevelopment plan. Prospective owner-users and investors can evaluate the building both as-is and as a redevelopment candidate, factoring in the corner frontage and the practical side-street loading access.
Key Highlights
- Almost 16,000 SF retail building on a major Monterey thoroughfare at the corner of Lighthouse Ave and Dickman Ave
- Roll‑up loading door on the side street
- Currently used as a furniture retailer; could be repurposed for another use
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $345.6k | $21.60 |
| − Vacancy | −$14.5k | −$0.91 |
| EGI | $331.1k | $20.69 |
| − OpEx | −$99.3k | −$6.21 |
| NOI | $231.8k | $14.48 |
16,000 SF · lease $21.60/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.31M
$2.90M – $3.86M
NOI $231,759 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.11M
$5.35M – $7.13M
NOI $427,651 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Busy corner retail building on a major thoroughfare, currently improved for a furniture retailer with a side-street roll-up door.
Where is this retail space located?
The property is located at 299 Lighthouse AVE Monterey, CA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Almost 16,000 SF retail building on a major Monterey thoroughfare at the corner of Lighthouse Ave and Dickman Ave; Roll‑up loading door on the side street; Currently used as a furniture retailer; could be repurposed for another use
