Retail Building with Prominent Street
For Sale
$1,940,000
2240-2252 N Fremont Street, Monterey, CA 93940
Three-building retail property with approximately 120 feet of frontage along Monterey’s North Fremont Corridor.
Property Size7,374 SF
Price / SF$263.09
Days on Market361
Property Features for 2240-2252 N Fremont Street
General Information
Standard status
Active
Size
7,374 SF
Property subtype
Commercial/Industrial
Site & Location
Frontage
120 ft
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$22,824
Building Details
Year Built
1956
Buildings
3
Tenancy
Multi
Listing Agency:
Baird Partnership, Inc.
Listed By:
Peter Baird · License #00533485
(831) 646-1919
Source:
Exitrealty
Added: Oct 16, 2025
Changed: Oct 1
Last Checked: Oct 1 at 8:35AM
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.
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
Estimated NOI and Cap Rate
NOI / Yr
$106,812
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,136,240
$2.1M
Cap Rate 7%
$1,525,886
$1.5M
Cap Rate 9%
$1,186,800
$1.2M
Market Conditions
NOI Build-Up for 7,374 SF
Gross rent
$159.3K $21.60/SF
− Vacancy
−$6.7K −$0.91/SF
EGI
$152.6K $20.69/SF
− OpEx
−$45.8K −$6.21/SF
NOI
$106.8K $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%
$2,136,240
Cap Rate 7%
$1,525,886
Cap Rate 9%
$1,186,800
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $106,812 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.82M
$2.46M – $3.28M
NOI $197,094 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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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 N Fremont Street 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
