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    245 Washington St Monterey, CA 93940

    For Sale
    $2,500,000

    Spacious, vacant office building in Monterey.

    Property size:
    5,630 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    310
    This exceptional commercial property at 245 Washington Street, Monterey, CA, presents a unique owner-user opportunity. The building boasts a substantial 5,630 square feet of space, distributed across two floors. The ground floor features recently upgraded office units, ready for immediate occupancy. The second floor comprises three distinct office suites, each equipped with its own private full bathroom, offering flexibility and privacy for multiple tenants or departments. The property sits on a 0.23-acre lot, providing ample space and potential for future development or expansion. Currently zoned as Open Space, the property enjoys a legal, non-conforming use designation for medical/office purposes. It's important to note that this property is not included in the waterfront Master Plan. The building will be delivered vacant, allowing for immediate customization and adaptation to the new owner's specific needs and business operations. The asking price for this versatile and well-maintained commercial property is $2,500,000. This presents a compelling investment opportunity in a desirable Monterey location. The existing infrastructure and recent upgrades minimize upfront capital expenditures, allowing for a swift and efficient transition into operations. The property's size and layout offer significant potential for a variety of commercial uses within the permitted zoning guidelines.

    Property Features for 245 Washington St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,630 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built
    1970
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Attendant Lot Parking Lot Dr. David D. ... Emergency Care Physician The Famous Old Fisherman's ... Sign Shop 245 Washington St ... Parking Lot San Nicola fishing ... Historical Landmark

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.8919
    Latitude
    36.60101

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    FAQs

    What type of property is this?
    Commercial real estate - Spacious, vacant office building in Monterey.
    Where is this commercial real estate located?
    The property is located at 245 Washington St Monterey, CA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    (831) 646-1919
    Request Owner's contact information
    245 Washington St Monterey, CA 93940
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    Monterey, CA 93940
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    Realmo Value Estimation

    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.

    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.

    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
    245 Washington St Monterey, CA 93940
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