Multi-Tenant Office
For Sale
$3,270,000
Pending
24551 Silver Cloud Court, Monterey, CA 93940
Four-suite configuration includes medical and professional office layouts with a built-out lower level.
Property Size10,617 SF
Days on Market202
Property Features for 24551 Silver Cloud Court
General Information
Standard status
Pending
Size
10,617 SF
Property subtype
Commercial/Industrial
Additional Details
Office Units
4
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Baird Partnership, Inc.
(831) 646-1919
Listed By:
Patrick Stafford · License #01857243
(831) 238-3592
Source:
Exitrealty
Added: Mar 28
Changed: Oct 3
Last Checked: Oct 2 at 8:00PM
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.
Built in 2005, this office building in Laguna Seca Business Park is arranged for four occupants. Three suites are configured for medical uses, while the remaining suite is set up as professional office space. The lower level is fully built out for office or storage use, adding functional space to the building’s existing layout.
The ground floor may be delivered vacant, creating an owner-user occupancy option. The property is located at 24551 Silver Cloud Ct in Monterey, with a Walk Score of 3, a Bike Score of 9, and a Transit Score of 19.
The ground floor may be delivered vacant, creating an owner-user occupancy option. The property is located at 24551 Silver Cloud Ct in Monterey, with a Walk Score of 3, a Bike Score of 9, and a Transit Score of 19.
Key Highlights
- Configured for 4 tenants
- Three suites designed for medical uses
- One suite configured as professional office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,640
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,592,800
$3.6M
Cap Rate 7%
$2,566,286
$2.6M
Cap Rate 9%
$1,996,000
$2.0M
Market Conditions
NOI Build-Up for 10,617 SF
Gross rent
$318.5K $30.00/SF
− Vacancy
−$19.1K −$1.80/SF
EGI
$299.4K $28.20/SF
− OpEx
−$119.8K −$11.28/SF
NOI
$179.6K $16.92/SF
Area
Monterey County, CA
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,592,800
Cap Rate 7%
$2,566,286
Cap Rate 9%
$1,996,000
Alternative Uses
Best Use
Healthcare Medical
$2.57M
$2.25M – $2.99M
NOI $179,640 @ 7.0% cap · market cap 5.49%
Second Best
Office B
$2.13M
$1.86M – $2.48M
NOI $149,063 @ 7.0% cap · market cap 4.56%
Theoretical Best
Specialty Retail
$4.05M
$3.55M – $4.73M
NOI $283,773 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Four-suite configuration includes medical and professional office layouts with a built-out lower level.
Where is this office building located?
The property is located at 24551 Silver Cloud Court Monterey, CA.
What is the asking price?
The asking price for this property is $3,270,000.
What are key features of this property?
This property features: Configured for 4 tenants; Three suites designed for medical uses; One suite configured as professional office space
