Multi-Tenant Office and Storage
For Sale
$2,090,000
1801 Catalina ST, Seaside, CA 93955
MULTI_FAMILY - SEASIDE, CA
Property Size7,632 SF
Lot Size0.19 Acres
Price / SF$273.85
Days on Market89
Property Features for 1801 Catalina ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial Property
Subdivision
Sand City
Standard status
Active
Size
7,632 SF
Lot size
0.19 Acres
Utilities
Water source
Public
Building Details
Year built
1988
Roof type
Shingle
Listing Agency:
Douglas Elliman of California, Inc.
(310) 595-3888
Listed By:
Kathleen McCrystal · License #01463899
(831) 915-6879
Added: May 12
Changed: Jun 3
Last Checked: Aug 8 at 3:06PM
MLS# ML82044101
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale property features a multi-tenant commercial structure with five office suites, six upper-level storage units, and four ground-level garage bays. One of the garage bays includes accessory office space. In addition, there are two more storage units, creating a mixed configuration designed to support both business and storage needs. The property is located on a 0.1894-acre lot and totals 7,632 square feet.
The building is zoned for Commercial Property use. Most of the existing spaces are currently leased on a month-to-month basis, which may provide near-term flexibility for an owner or operator. The listing also notes city-supported potential for a six-story residential development, with preliminary discussions including parking and residential levels, as well as potential use of nearby dead-end street portions to improve access and circulation.
From an ownership standpoint, the property can fit buyers looking for an income-producing mixed office and storage setup while evaluating longer-range redevelopment planning. Buyers are also asked to cooperate with sellers regarding a 1031 exchange.
The building is zoned for Commercial Property use. Most of the existing spaces are currently leased on a month-to-month basis, which may provide near-term flexibility for an owner or operator. The listing also notes city-supported potential for a six-story residential development, with preliminary discussions including parking and residential levels, as well as potential use of nearby dead-end street portions to improve access and circulation.
From an ownership standpoint, the property can fit buyers looking for an income-producing mixed office and storage setup while evaluating longer-range redevelopment planning. Buyers are also asked to cooperate with sellers regarding a 1031 exchange.
Key Highlights
- Significant development potential with city support for a six‑story residential building.
- Prime location in Sand City, a dynamic and evolving micro‑market on the Monterey Peninsula.
- Potential for compelling views from upper‑level units (above the third floor).
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
$107,153
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
5.13%
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%
$2,143,060
$2.1M
Cap Rate 7%
$1,530,757
$1.5M
Cap Rate 9%
$1,190,589
$1.2M
Market Conditions
NOI Build-Up for 7,632 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
$183.2K $24.00/SF
− Vacancy
−$40.3K −$5.28/SF
EGI
$142.9K $18.72/SF
− OpEx
−$35.7K −$4.68/SF
NOI
$107.2K $14.04/SF
Area
Monterey County, CA
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,143,060
Cap Rate 7%
$1,530,757
Cap Rate 9%
$1,190,589
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,153 @ 7.0% cap · market cap 5.13%
Second Best
Industrial
$1.31M
$1.15M – $1.53M
NOI $92,014 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.40M
NOI $203,990 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 93955, CA
32,703
Population
11,150
Households
2.9
Avg Household Size
34
Median Age
28%
College-Educated
81%
High-School Grad
26.3 sq mi
ZIP Area
1,243
Density / Sq Mi
$82,331
Median Household Income
$35,488
Median Earnings
$2,312
Median Rent
$693,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - For sale multi-tenant commercial building with office suites, storage units, and garage bays, with most spaces on month-to-month terms.
Where is this office units located?
The property is located at 1801 Catalina ST Seaside, CA.
What is the asking price?
The asking price for this property is $2,090,000.
What are key features of this property?
This property features: Significant development potential with city support for a six‑story residential building.; Prime location in Sand City, a dynamic and evolving micro‑market on the Monterey Peninsula.; Potential for compelling views from upper‑level units (above the third floor).
