Lighthouse Avenue Retail
For Sale
Contact for pricing
585-599 Lighthouse Ave, Monterey, CA
Retail properties on Lighthouse Ave, Monterey, CA for sale.
Property Size5,049 SF
Lot Size0.41 Acres
Price / SF$435.73
Days on Market334
Property Features for 585-599 Lighthouse Ave
General Information
Standard status
Active
Size
5,049 SF
Lot size
0.41 Acres
Property subtype
RETAIL
Listing Agency:
Mahoney & Associates Commercial Real Estate
(831) 238-3592
Listed By:
Patrick Stafford · License #01857243
(831) 238-3592
Source:
Moodyscre
Added: Sep 23, 2025
Changed: Aug 21
Last Checked: Aug 21 at 3:29PM
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 Mahoney & Associates Commercial Real Estate
Investment Insights
Based on property information with market context.
The properties located at 591-599 Lighthouse Ave and 585 Lighthouse Ave, Monterey, CA, offer a combined building size of approximately 5,049 square feet. The parcel at 591-599 Lighthouse Ave (APN 001-065-001) features a building of approximately 3,512 square feet on a lot of about 6,000 square feet. The parcel at 585 Lighthouse Ave (APN 001-065-010) includes a building of approximately 1,537 square feet, also situated on a lot of approximately 6,000 square feet. Additionally, the parcel at 584 Hawthorne Ave (APN 001-065-017) has a lot size of approximately 6,000 square feet. The zoning for the Lighthouse Avenue properties is PC-LH-CB1, while the Hawthorne Avenue property is zoned R-3-5.
Key Highlights
- Multiple Parcels: Includes three parcels.
- Significant Building Size: Features a ±3,512 SF building at 591‑599 Lighthouse Ave.
- Additional Building: Includes a ±1,537 SF building at 585 Lighthouse Ave.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,135
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,462,700
$1.5M
Cap Rate 7%
$1,044,786
$1.0M
Cap Rate 9%
$812,611
$812.6K
Market Conditions
NOI Build-Up for 5,049 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$109.1K $21.60/SF
− Vacancy
−$4.6K −$0.91/SF
EGI
$104.5K $20.69/SF
− OpEx
−$31.3K −$6.21/SF
NOI
$73.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,462,700
Cap Rate 7%
$1,044,786
Cap Rate 9%
$812,611
Alternative Uses
Best Use
Retail
$1.04M
$914.2K – $1.22M
NOI $73,135 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $134,951 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
131k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 20%
Apparel 11%
Groceries 5%
Bubba Gump Shrimp Co.
Dining
19,022 visits/mo
0.3 miles
El Torito
Dining
15,909 visits/mo
0.2 miles
Carl's Jr.
Dining
15,777 visits/mo
0.4 miles
Starbucks
Dining
14,779 visits/mo
0.3 miles
Goodwill
Apparel
9,511 visits/mo
0.0 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - Retail properties on Lighthouse Ave, Monterey, CA for sale.
Where is this retail property located?
The property is located at 585-599 Lighthouse Ave Monterey, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Multiple Parcels: Includes three parcels.; Significant Building Size: Features a ±3,512 SF building at 591‑599 Lighthouse Ave.; Additional Building: Includes a ±1,537 SF building at 585 Lighthouse Ave.
