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    900 Cass St Monterey, CA 93940

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    For Sale
    $1,650,000

    Two Suites, Prime Location, High Demand

    Property size:
    2,493 SF

    Property Features for 900 Cass St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    2,493 SF
    Lot Size
    1,307 SF

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Patrick Stafford
    Patrick Stafford

    Listing Agency: Mahoney & Associates Commercial Real Estate Listing Agent: Patrick Stafford

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional investment opportunity presents two medical office condos totaling 2,493 square feet, situated at 900 Cass Street, Unit 101, in the vibrant city of Monterey, California. The property sits on a 0.03-acre lot and is priced at $1,650,000. This offering provides a unique dual advantage: immediate occupancy and rental income. Suite 101 will be vacant upon closing, allowing a buyer to immediately establish their business in this highly desirable medical corridor. Suite 102 comes with an existing lease in place, generating immediate rental revenue. Both units boast upgraded Class A finishes, reflecting a commitment to quality and sophistication. The strategic location in the heart of Monterey's Cass Street medical area ensures high visibility and accessibility, placing the property within easy reach of downtown Monterey and its numerous amenities. The rarity of units in this complex becoming available underscores the exceptional nature of this investment. This is a compelling opportunity for an owner-occupier seeking both a prime location for their practice and a passive income stream. The combination of immediate occupancy and rental income makes this a truly unique and attractive investment proposition in the thriving Monterey market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Monterey Program for Executive ... Hospital Dr. James E. ... Physician Abc Eye Care Ophthalmologist James E Ramseur, ... Physician Monterey Joint Replacement ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.8964
    Latitude
    36.59333

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    FAQs

    What type of property is this?
    Commercial real estate - Two Suites, Prime Location, High Demand
    Where is this commercial real estate located?
    The property is located at 900 Cass St Monterey, CA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    (831) 238-3592
    Request Owner's contact information
    900 Cass St 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
    900 Cass St Monterey, CA 93940
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    We can help!
    Listing Contact
    Patrick Stafford
    Patrick Stafford
    Real Estate License ID: 01857243
    (831) 238-3592 (831) 646-1919
    Learn more
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