Retail Building with Loading
For Sale
$3,800,000
299 Lighthouse Avenue, Monterey, CA 93940
CommercialSale, Monterey, CA
Property Size15,964 SF
Lot Size0.21 Acres
Price / SF$238.04
Days on Market106
Property Features for 299 Lighthouse Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Standard status
Active
APN
001-052-001-000
Size
15,964 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Amenities
roll-up loading door
Building Details
Year built
1964
Floors in Building
3
Flooring type
Linoleum, Carpet
Roof type
Shingle, Composition
Listing Agency:
KW Coastal Estates · Keller Williams Realty
(831) 622-6200
Listed By:
Monterey Peninsula Home Team · License #70000352
(831) 594-3290
Added: Jul 8
Changed: Oct 21
Last Checked: Oct 21 at 6:06AM
MLS# ML82053558
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.
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Investment Insights
Based on property information with market context.
The 15,964-square-foot retail building was constructed in 1964 and sits on a 0.2066-acre parcel. Interior flooring includes linoleum and carpet, and the building has forced-air, natural gas, central heating. The roof is shingle and composition, with public sewer service. A roll-up loading door is positioned along the side street.
The property occupies the corner of Lighthouse Avenue and Dickman Avenue in Monterey, on a major thoroughfare. The current use is furniture retail; the building may be used in its existing configuration or considered for redevelopment.
The property occupies the corner of Lighthouse Avenue and Dickman Avenue in Monterey, on a major thoroughfare. The current use is furniture retail; the building may be used in its existing configuration or considered for redevelopment.
Key Highlights
- 15,964‑square‑foot retail building on a 0.2066‑acre parcel
- Corner at Lighthouse Avenue and Dickman Avenue in Monterey
- Roll‑up loading door accessed from the 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.
How Realmo checks its estimates
Property Analytics
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Current Use
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
Frequently Asked Questions
What type of property is this?
Retail space - A corner retail property with side-street loading and public sewer service.
Where is this retail space located?
The property is located at 299 Lighthouse Avenue 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: 15,964‑square‑foot retail building on a 0.2066‑acre parcel; Corner at Lighthouse Avenue and Dickman Avenue in Monterey; Roll‑up loading door accessed from the side street
