Building Details

Year built 1973

Floors in Building 2

Roof type Composition

Listing Agency: KW Coastal Estates · Keller Williams Realty k***@kw.com Show Phone

Listed By: Monterey Peninsula Home Team · License #70000352 Show Phone

Added: May 18 Changed: Oct 21 Last Checked: Oct 21 at 10:06AM

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MLS# ML82047717

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.

This mixed-use property combines a former commercial building of approximately 1,875 square feet with a separate residence measuring approximately 1,536 square feet. The home has two bedrooms. The commercial space is no longer operating as a store, and the property is zoned Comm.

The site covers approximately 2.34 acres in South Monterey County, near Los Padres National Forest and outdoor recreation areas. Water is supplied by a well, with septic service and propane. The building dates to 1973 and has wall-unit cooling and a composition roof.

Key Highlights

• Approximately 2.34 acres
• Former commercial building of approximately 1,875 square feet
• Separate 1,536‑square‑foot residence with two bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,046

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$980,920 $980.9K

Cap Rate 7%

$700,657 $700.7K

Cap Rate 9%

$544,956 $545.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,386 SF

Gross rent

$73.1K $21.60/SF

− Vacancy

−$3.1K −$0.91/SF

EGI

$70.1K $20.69/SF

− OpEx

−$21.0K −$6.21/SF

NOI

$49.0K $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%

$980,920

Cap Rate 7%

$700,657

Cap Rate 9%

$544,956

Alternative Uses

Best Use

Retail

$700.7K

$613.1K – $817.4K (±1% cap)

NOI $49,046 @ 7.0% cap · market cap 8.19%

Second Best

Mixed Use

$667.5K

$584.1K – $778.8K (±1% cap)

NOI $46,727 @ 7.0% cap · market cap 7.80%

Theoretical Best

Specialty Retail

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,502 @ 7.0% cap · market cap 15.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Storefront properties

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 93927, CA

19,976

Population

5,037

Households

4

Avg Household Size

28

Median Age

9%

College-Educated

50%

High-School Grad

210.1 sq mi

ZIP Area

95

Density / Sq Mi

$77,272

Median Household Income

$34,140

Median Earnings

$1,658

Median Rent

$463,600

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A separate two-bedroom home accompanies the former commercial building on a 2.34-acre property.

Where is this mixed-use property located?

The property is located at 46404 Arroyo Seco Road Greenfield, CA.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Approximately 2.34 acres; Former commercial building of approximately 1,875 square feet; Separate 1,536‑square‑foot residence with two bedrooms