Corner Retail Building with Loading
For Sale
$3,800,000
299 Lighthouse Ave, Monterey, CA 93940
Almost 16,000 SF corner retail building on a major Monterey thoroughfare with a roll-up loading door on a side street.
Property Size15,964 SF
Price / SF$238.04
Days on Market90
Property Features for 299 Lighthouse Ave
General Information
Standard status
Active
Size
15,964 SF
Additional Details
Drive-In Doors
1
Building Details
Year Built
1964
Listing Agency:
KW Coastal Estates
Listed By:
Monterey Peninsula Home Team · License #70000352
(831) 917-8190
Source:
Overthemoonrealty
Added: Jul 10
Changed: Oct 5
Last Checked: Oct 5 at 10:51PM
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 KW Coastal Estates
Investment Insights
Based on property information with market context.
An almost 16,000 SF corner retail building currently operating as a furniture retailer. The property includes a roll-up loading door on the side street and is suitable for an owner/user or for potential redevelopment.
Located on a major Monterey thoroughfare at the corner of Lighthouse Ave and Dickman Ave, the site benefits from corner exposure.
With its existing retail configuration and convenient side-street loading access, the building offers flexibility for continued use or adaptive reuse based on buyer goals.
Located on a major Monterey thoroughfare at the corner of Lighthouse Ave and Dickman Ave, the site benefits from corner exposure.
With its existing retail configuration and convenient side-street loading access, the building offers flexibility for continued use or adaptive reuse based on buyer goals.
Key Highlights
- Almost 16,000 SF corner retail building on a major Monterey thoroughfare
- Located at the corner of Lighthouse Ave and Dickman Ave
- Roll‑up loading door on a side street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,238
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,624,760
$4.6M
Cap Rate 7%
$3,303,400
$3.3M
Cap Rate 9%
$2,569,311
$2.6M
Market Conditions
NOI Build-Up for 15,964 SF
Gross rent
$344.8K $21.60/SF
− Vacancy
−$14.5K −$0.91/SF
EGI
$330.3K $20.69/SF
− OpEx
−$99.1K −$6.21/SF
NOI
$231.2K $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%
$4,624,760
Cap Rate 7%
$3,303,400
Cap Rate 9%
$2,569,311
Alternative Uses
Best Use
Retail
$3.30M
$2.89M – $3.85M
NOI $231,238 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.10M
$5.33M – $7.11M
NOI $426,689 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 18%
Apparel 14%
Groceries 7%
Bubba Gump Shrimp Co.
Dining
19,022 visits/mo
0.5 miles
El Torito
Dining
15,909 visits/mo
0.3 miles
Goodwill
Apparel
9,511 visits/mo
0.3 miles
Chart House
Dining
8,542 visits/mo
0.2 miles
Big Fish Grill
Dining
7,663 visits/mo
0.5 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Almost 16,000 SF corner retail building on a major Monterey thoroughfare with a roll-up loading door on a side street.
Where is this retail space located?
The property is located at 299 Lighthouse Ave Monterey, CA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Almost 16,000 SF corner retail building on a major Monterey thoroughfare; Located at the corner of Lighthouse Ave and Dickman Ave; Roll‑up loading door on a side street
