Elevator-Served Office
New
For Sale
$5,950,000
511 Forest Lodge Rd, Pacific Grove, CA 93950
Fire sprinklers, updated restrooms, and C-FH zoning allow office, residential, commercial, and retail uses.
Property Size21,469 SF
Lot Size2.22 Acres
Price / SF$277.14
Days on Market4
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Property Features for 511 Forest Lodge Rd
General Information
Standard status
Active
Size
21,469 SF
Elevators
Yes
Lot size
2.22 Acres
Property subtype
Office
Zoning
C-FH
Occupancy
96%
Additional Details
Sprinkler System
Yes
Amenities
updated restrooms
Building Details
Year Built
1986
Buildings
1
Tenancy
Multi
Listing Agency:
Silicon Valley
Listed By:
John Serex · License #CA-01010285
(408) 282-3803
Source:
Colliers
Added: Oct 12
Changed: Oct 14
Last Checked: Oct 14 at 7:41PM
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 Silicon Valley
Investment Insights
Based on property information with market context.
The freestanding office property contains ±21,469 SF on ±2.22 acres and was built in 1986. Building features include elevator service, fire sprinklers, and updated restrooms. C-FH Forest Hill Commercial zoning permits residential, commercial, office, and retail uses.
Occupancy is 96%. California American Water leases 90% of the building, or ±18,847 SF, through December 2027. Two smaller tenants occupy the remaining space on month-to-month terms.
Occupancy is 96%. California American Water leases 90% of the building, or ±18,847 SF, through December 2027. Two smaller tenants occupy the remaining space on month-to-month terms.
Key Highlights
- ±21,469 SF freestanding office building on ±2.22 acres
- Currently 96% leased
- California American Water occupies 90%, or ±18,847 SF, through December 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,425
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,028,500
$6.0M
Cap Rate 7%
$4,306,071
$4.3M
Cap Rate 9%
$3,349,167
$3.3M
Market Conditions
NOI Build-Up for 21,469 SF
Gross rent
$515.3K $24.00/SF
− Vacancy
−$113.4K −$5.28/SF
EGI
$401.9K $18.72/SF
− OpEx
−$100.5K −$4.68/SF
NOI
$301.4K $14.04/SF
Area
Monterey County, CA
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,028,500
Cap Rate 7%
$4,306,071
Cap Rate 9%
$3,349,167
Alternative Uses
Best Use
Office B
$4.31M
$3.77M – $5.02M
NOI $301,425 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.20M
$7.17M – $9.56M
NOI $573,828 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
96%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Explore this area
Business Placement
Demographics for 93950, CA
15,082
Population
8,315
Households
1.8
Avg Household Size
49
Median Age
58%
College-Educated
96%
High-School Grad
2.8 sq mi
ZIP Area
5,386
Density / Sq Mi
$105,568
Median Household Income
$62,185
Median Earnings
$2,384
Median Rent
$1,129,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Fire sprinklers, updated restrooms, and C-FH zoning allow office, residential, commercial, and retail uses.
Where is this office building located?
The property is located at 511 Forest Lodge Rd Pacific Grove, CA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: ±21,469 SF freestanding office building on ±2.22 acres; Currently 96% leased; California American Water occupies 90%, or ±18,847 SF, through December 2027
