Property profile

900 Cass St 1B Monterey, CA 93940

OFF-MARKET
Office Spaces
Property ID
US09-3844872
1,068 SF 0.02 ac lot
Individually Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional opportunity presents two medical office condos totaling 2,493 square feet, situated at 900 Cass Street in Monterey County, California. The property, identified by APN 001-606-001 and 001-606-002, offers a unique investment prospect. One suite (Suite 101), comprising 1,068 to 1,425 contiguous square feet, will be delivered vacant upon closing, providing immediate occupancy for a new business. The second suite (Suite 102) features upgraded Class A finishes and comes with an existing lease in place, generating immediate rental income. The minimum divisible space is 1,068 square feet, while the maximum contiguous space available is 1,425 square feet. This prime location within Monterey's Cass Street medical district offers excellent visibility and accessibility, placing it in close proximity to downtown Monterey. The combined units present a rare opportunity to own a thriving medical practice space while simultaneously benefiting from passive rental income. The building's high-quality finishes and desirable location make this an attractive investment for both owner-occupiers and investors seeking a strong return. The property is currently entirely vacant, allowing for immediate customization and occupancy.

Property profile

Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Total area 1,068 SF
Lot 0.02 ac (1,068 SF)
APN 001-606-002-000
UPID US09-3844872

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hospital
  • Physician
  • Ophthalmologist
  • Physician Medical Clinic
  • Medical Clinic

Location

900 Cass St, Unit 1B Monterey, CA 93940-4544
Monterey metro Census 12800 SALINAS, CA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$572k
Blend (final) Blend
$300k

Owner & transaction history

since 2024
3 recorded transactions
2024
Price N/A
2022
Price N/A
2007
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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