Monterey Medical Office
167 Davis Ln Monterey, CA 93940
For Sale
$1,350,000
Medical office building in Monterey's medical district.
Property Size2,537 SF
Price / SF$532.12
Days on Market97
Property Features for 167 Davis Ln
General Information
Standard status
Active
Size
2,537 SF
Property subtype
Commercial
Building Details
Year Built
1954
Listing Agency:
Albers Real Estate
(831) 372-1922
Listed By:
Hap Albers · License #01006595
(831) 372-1922
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 29 at 11:08AM
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 Albers Real Estate
Investment Insights
Based on property information with market context.
The Monterey Medical Office Building is situated in the heart of Monterey's medical district. According to city records, the property has an approved City of Monterey Use Permit to convert the building into a 1,464 sq. ft. residential unit and a 1,073 sq. ft. commercial office. The property is listed as 167 Davis in the tax records, though it fronts onto El Dorado Street, and the El Dorado address is 172. The bike score is 20, indicating it is somewhat bikeable. The walk score is 9, indicating car-dependent access. The transit score is 19, indicating minimal transit options.
Key Highlights
- Approved City of Monterey Use Permit for conversion to residential and commercial units.
- Potential for a 1,464 sq. ft. residential unit.
- Includes a 1,073 sq. ft. commercial office space.
Financial Insights For Healthcare Medical
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 | $76.1k | $30.00 |
| − Vacancy | −$4.6k | −$1.80 |
| EGI | $71.5k | $28.20 |
| − OpEx | −$28.6k | −$11.28 |
| NOI | $42.9k | $16.92 |
2,537 SF · lease $30.00/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$613.2K
$536.6K – $715.4K
NOI $42,926 @ 7.0% cap · market cap 3.18%
Second Best
Office B
$508.8K
$445.2K – $593.7K
NOI $35,619 @ 7.0% cap · market cap 2.64%
Theoretical Best
Specialty Retail
$968.7K
$847.6K – $1.13M
NOI $67,809 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Nichols Veterinary Care — 571 E Franklin St Suite C, Monterey, CA 93940
- Petco Vaccination Clinic — 960 Del Monte Center, Monterey, CA 93940
- Monterey Area Emergency Veterinarians — 620 munras ave, monterey, ca 93940
- Shade's Shelties — 1029 Hellam St, Monterey, CA 93940, United States
- Shade Donna DVM — 1029 Hellam St, Monterey, CA 93940
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building in Monterey's medical district.
Where is this medical office space located?
The property is located at 167 Davis Ln Monterey, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approved City of Monterey Use Permit for conversion to residential and commercial units.; Potential for a **1,464 sq. ft. residential unit.**; Includes a **1,073 sq. ft. commercial office space.**
