Shopping Center with NNN
For Sale
$1,799,000
31 Soledad Dr, Monterey, CA 93940
Shopping center with NNN leases for three tenants and estimated 15,257 ADT frontage, plus available parking.
Property Size9,099 SF
Price / SF$197.71
Days on Market71
Property Features for 31 Soledad Dr
General Information
Standard status
Active
Size
9,099 SF
Building Details
Year Built
1966
Listing Agency:
Baird Partnership, Inc.
Listed By:
Peter Baird, David Baird · License #00533485
(831) 646-1919
Source:
Overthemoonrealty
Added: Jul 29
Changed: Sep 23
Last Checked: Oct 5 at 10:38PM
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 Baird Partnership, Inc.
Investment Insights
Based on property information with market context.
Shopping center at 31 Soledad Dr, Monterey, CA 93940, featuring approximately 9,099 SF and desirable frontage with an estimated 15,257 ADT. The property has three established tenants, and each tenant is on an NNN lease structure. Available parking supports day-to-day operations.
The location is described as very central for access to Salinas, Carmel, or Monterey. A portion of the building is available for owner-user, providing flexibility for an owner/operator alongside the existing leased space.
With multiple tenants already in place under NNN leases and parking on-site, the property can support a range of ownership strategies that require both income and the ability to use part of the building.
The location is described as very central for access to Salinas, Carmel, or Monterey. A portion of the building is available for owner-user, providing flexibility for an owner/operator alongside the existing leased space.
With multiple tenants already in place under NNN leases and parking on-site, the property can support a range of ownership strategies that require both income and the ability to use part of the building.
Key Highlights
- Estimated 15,257 ADT frontage
- Three established tenants with NNN leases
- Approximately 9,099 SF shopping center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,799
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,635,980
$2.6M
Cap Rate 7%
$1,882,843
$1.9M
Cap Rate 9%
$1,464,433
$1.5M
Market Conditions
NOI Build-Up for 9,099 SF
Gross rent
$196.5K $21.60/SF
− Vacancy
−$8.3K −$0.91/SF
EGI
$188.3K $20.69/SF
− OpEx
−$56.5K −$6.21/SF
NOI
$131.8K $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 Rate 5%
$2,635,980
Cap Rate 7%
$1,882,843
Cap Rate 9%
$1,464,433
Alternative Uses
Best Use
Retail
$1.88M
$1.65M – $2.20M
NOI $131,799 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.47M
$3.04M – $4.05M
NOI $243,200 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
363k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 38%
Dining 27%
Groceries 12%
Shops & Services 12%
Macy's
Apparel
59,165 visits/mo
0.4 miles
Whole Foods Market
Groceries
44,192 visits/mo
0.2 miles
Victoria's Secret
Apparel
25,731 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
23,420 visits/mo
0.4 miles
California Pizza Kitchen
Dining
20,517 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Monte Vista Village Shopping Center — 23 Soledad Dr, Monterey, CA 93940
- Del Monte Shopping Center — 1410 Del Monte Center, Monterey, CA 93940
- Sunglass Hut — 535 Del Monte Center, Monterey, CA 93940
- Sunglass Hut at Macy's — 100 Del Monte Center, Monterey, CA 93940
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with NNN leases for three tenants and estimated 15,257 ADT frontage, plus available parking.
Where is this shopping center located?
The property is located at 31 Soledad Dr Monterey, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Estimated 15,257 ADT frontage; Three established tenants with NNN leases; Approximately 9,099 SF shopping center
