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    Flat Residential Development Lot Title is generated by Realmo AI

    3118 Bird Rock RD, Pebble Beach, CA 93953

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    Claim this Listing
    For Sale
    $1,595,000

    LAND - PEBBLE BEACH, CA

    Property size:
    11,300 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $141/SF
    Added:
    May 20, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 3118 Bird Rock RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    MDR/B-6-D-RES
    Fencing
    Partial
    Standard status
    Active
    Lot size
    0.26 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Carrie Baumgart
    Carrie Baumgart

    Listing agent Carrie Baumgart License #01453222

    Listing office Carmel Realty Company Dolores Street between 7th & 8th / PO Drawer C, Carmel-by-the-Sea, CA

    Listing date May 20, 2026

    MLS# ML82034839 Listing URL

    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.

    HighLights

    • Rare flat lot in Country Club West.
    • Located just .6 miles from Seal Rock Beach.
    • Opportunity to build a custom home.
    • Includes .35 acre feet of water entitlements.
    • Easy, level walk to the ocean and 17 Mile Drive.
    • Close proximity to MPCC and Spanish Bay.

    Overview

    This offering is a flat residential development lot in Pebble Beach, California, with a buildable area of 11,300 square feet. The property includes 0.35 acre-feet of water entitlements, providing an important utility component for a future home project. Buyers can bring their contractor to review the site and plan a residence tailored to their layout needs.

    The lot is located on lower Bird Rock Road and is described as offering an easy, level walk to the ocean and 17 Mile Drive. The remarks also note close proximity to MPCC and Spanish Bay, which may be relevant to buyers seeking a coastal lifestyle and nearby recreation.

    For residential buyers and builders, the combination of a level site and included water entitlements supports the practical next steps in the development process. This property is well-suited for those looking to construct a custom home in the Country Club area, using the existing site configuration to plan their preferred arrangement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Gym & Fitness Center Auto Repair Shop Skin Care Clinic Department Store Hotel & Motel Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pebble Beach
    County
    Monterey
    State
    California
    Longitude
    -121.954554
    Latitude
    36.592972

    Nearby Similar for Sale

    • $1,599,999

      Residential Land with Approved Plans

      Build a single-level main residence plus an attached garage and private ADU on a permitted parcel in Pebble Beach.
      2901 Bird Rock RD, Pebble Beach, CA 93953
      View Details
    • $1,795,000

      Pebble Beach Coastal Retreat Land

      Large Pebble Beach lot ready for a custom coastal home.
      4040 Sunridge Road, PEBBLE BEACH, CA 93953
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Flat lot with water entitlements near ocean access for a custom home build.
    Where is this residential land & home lot located?
    The property is located at 3118 Bird Rock RD Pebble Beach, CA.
    What is the asking price?
    The asking price for this property is $1,595,000.
    What are key features of this property?
    This property features: Rare flat lot in Country Club West.; Located just .6 miles from Seal Rock Beach.; Opportunity to build a custom home.
    (831) 717-7156
    We can help!
    Listing Contact
    Carrie Baumgart
    Carrie Baumgart
    Real Estate License ID: 01453222
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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