Retail Building with Prominent Street
For Sale
Contact for pricing
2240-2252 Fremont St, Monterey, CA 93940
Three-building retail property with approximately 120 feet of frontage along Monterey’s North Fremont Corridor.
Property Size7,120 SF
Price / SF$272.47
Days on Market415
Property Features for 2240-2252 Fremont St
General Information
Standard status
Active
Size
7,120 SF
Property subtype
RETAIL
Site & Location
Frontage
120 ft
Highway Access
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Mahoney & Associates Commercial Real Estate
(831) 646-1919
Listed By:
Peter A. Baird · License #00533485
Source:
Moodyscre
Added: Jun 12, 2025
Changed: Jul 30
Last Checked: Jul 31 at 1:15PM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
2240-2252 N. Fremont St., Monterey, CA 93940 includes three buildings totaling +/-7,120 SF. The property is set up as four retail units, with three units having long-standing leases and the fourth unit positioned as an owner-occupied opportunity.
The site offers great visibility on a prominent thoroughfare in Monterey and provides approximately 120 feet of frontage along the North Fremont Corridor. The rear portion of the property is bordered by an alley, which may add operational flexibility. It is also located near Highway 1, Highway 68, and Highway 218 (Canyon del Rey Blvd).
The property sits within the North Fremont Specific Plan, which includes long-term visions of mixed-use redevelopment.
The site offers great visibility on a prominent thoroughfare in Monterey and provides approximately 120 feet of frontage along the North Fremont Corridor. The rear portion of the property is bordered by an alley, which may add operational flexibility. It is also located near Highway 1, Highway 68, and Highway 218 (Canyon del Rey Blvd).
The property sits within the North Fremont Specific Plan, which includes long-term visions of mixed-use redevelopment.
Key Highlights
- Three buildings totaling +/-7,120 SF at 2240‑2252 N. Fremont St, Monterey
- Approximately 120 feet of frontage along the North Fremont Corridor
- Four retail units; three have long‑standing leases
Financial Insights For Retail
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 | $153.8k | $21.60 |
| − Vacancy | −$6.5k | −$0.91 |
| EGI | $147.3k | $20.69 |
| − OpEx | −$44.2k | −$6.21 |
| NOI | $103.1k | $14.48 |
7,120 SF · lease $21.60/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,133 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,305 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
156k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Shops & Services 31%
Dining 22%
Apparel 5%
Safeway
Groceries
60,028 visits/mo
0.3 miles
Dollar Tree
Shops & Services
21,482 visits/mo
0.1 miles
Burger King
Dining
14,000 visits/mo
0.4 miles
Chevron
Shops & Services
10,902 visits/mo
0.2 miles
Black Bear Diner
Dining
10,665 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three-building retail property with approximately 120 feet of frontage along Monterey’s North Fremont Corridor.
Where is this retail space located?
The property is located at 2240-2252 Fremont St Monterey, CA.
What is the asking price?
The asking price for this property is $1,940,000.
What are key features of this property?
This property features: Three buildings totaling +/-7,120 SF at 2240‑2252 N. Fremont St, Monterey; Approximately 120 feet of frontage along the North Fremont Corridor; Four retail units; three have long‑standing leases
