NNN Property with Roll-Up
New
For Sale
Contact for pricing
1064-1072 Del Monte Ave., Monterey, CA 93940
The property includes an existing occupant under a long-term NNN lease.
Property Size3,152 SF
Price / SF$412.12
Days on Market5
Property Features for 1064-1072 Del Monte Ave.
General Information
Standard status
Active
Size
3,152 SF
Total Parking Spaces
11
Property subtype
Retail
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Mahoney & Associates
Listed By:
Patrick Stafford · License #01857243
(831) 238-3592
Source:
Crexi
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 2:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mahoney & Associates
Investment Insights
Based on property information with market context.
This NNN property comprises two parcels and an approximately 3,152 SF building with one roll-up door. An eleven-space parking lot is included with the property, providing dedicated on-site parking for the building and its occupant.
Located at 1064-1072 Del Monte Avenue in Monterey, California, the property is occupied by Bereman Carpet, which has operated from the site since the 1970s. The sale includes a long-term NNN lease in place, combining the building, parking improvements, and existing tenancy in one offering.
Located at 1064-1072 Del Monte Avenue in Monterey, California, the property is occupied by Bereman Carpet, which has operated from the site since the 1970s. The sale includes a long-term NNN lease in place, combining the building, parking improvements, and existing tenancy in one offering.
Key Highlights
- Approximately 3,152 SF building
- Long‑term NNN lease in place
- Two parcels included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,657
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$913,140
$913.1K
Cap Rate 7%
$652,243
$652.2K
Cap Rate 9%
$507,300
$507.3K
Market Conditions
NOI Build-Up for 3,152 SF
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.
Gross rent
$68.1K $21.60/SF
− Vacancy
−$2.9K −$0.91/SF
EGI
$65.2K $20.69/SF
− OpEx
−$19.6K −$6.21/SF
NOI
$45.7K $14.48/SF
Area
Monterey County, CA
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$913,140
Cap Rate 7%
$652,243
Cap Rate 9%
$507,300
Alternative Uses
Best Use
Retail
$652.2K
$570.7K – $761.0K
NOI $45,657 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,247 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 22%
Home Improvements & Furnishings 2%
McDonald's
Dining
38,445 visits/mo
0.4 miles
Chevron
Shops & Services
10,522 visits/mo
0.1 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
975 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
591 visits/mo
0.1 miles
Demographics for 93940, CA
30,454
Population
15,451
Households
2
Avg Household Size
43
Median Age
54%
College-Educated
94%
High-School Grad
35.1 sq mi
ZIP Area
868
Density / Sq Mi
$110,669
Median Household Income
$62,711
Median Earnings
$2,305
Median Rent
$1,039,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - The property includes an existing occupant under a long-term NNN lease.
Where is this nnn property located?
The property is located at 1064-1072 Del Monte Ave. Monterey, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Approximately 3,152 SF building; Long‑term NNN lease in place; Two parcels included in the sale
