Elevator-Served Medical Office
910 Major Sherman Ln Monterey, CA 93940
For Sale
Contact for pricing
Multi-tenant medical office building with elevator service and parking garage on the first level.
Property Size6,159 SF
Price / SF$405.91
Days on Market229
Property Features for 910 Major Sherman Ln
General Information
Standard status
Active
Size
6,159 SF
Property subtype
OFFICE
Listing Agency:
Mahoney & Associates Commercial Real Estate
(831) 646-1919
Listed By:
Patrick Stafford · License #01857243
(831) 238-3592
Source:
Moodyscre
Added: Dec 12, 2025
Changed: Jul 27
Last Checked: Jul 28 at 3:55PM
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.
This multi-tenant medical office building totals 6,159 SF and is configured with a parking garage on the first level and medical offices on the second and third floors. The property is wood frame and stucco construction and is elevator served, supporting convenient access between floors.
Located near downtown Monterey, the building offers an owner-user option with the ability to occupy the top floor. The seller also describes the property as suitable for an investor looking to re-tenant the top floor and hold it as an investment.
Overall, the layout supports separate second- and third-floor office use within an elevator-served medical office setting.
Located near downtown Monterey, the building offers an owner-user option with the ability to occupy the top floor. The seller also describes the property as suitable for an investor looking to re-tenant the top floor and hold it as an investment.
Overall, the layout supports separate second- and third-floor office use within an elevator-served medical office setting.
Key Highlights
- 6,159 SF multi‑tenant medical office building near downtown Monterey
- Wood frame/stucco construction with a parking garage on the first level
- Medical offices on the second and third floors
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $184.8k | $30.00 |
| − Vacancy | −$11.1k | −$1.80 |
| EGI | $173.7k | $28.20 |
| − OpEx | −$69.5k | −$11.28 |
| NOI | $104.2k | $16.92 |
6,159 SF · lease $30.00/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.49M
$1.30M – $1.74M
NOI $104,210 @ 7.0% cap · market cap 4.17%
Second Best
Office B
$1.24M
$1.08M – $1.44M
NOI $86,472 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$2.35M
$2.06M – $2.74M
NOI $164,619 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Aguajito Veterinary Hospital — 1221 10th St, Monterey, CA 93940
- Nichols Veterinary Care — 571 E Franklin St Suite C, Monterey, CA 93940
- Petco Vaccination Clinic — 960 Del Monte Center, Monterey, CA 93940
- Monterey Area Emergency Veterinarians — 620 munras ave, monterey, ca 93940
- Shade's Shelties — 1029 Hellam St, Monterey, CA 93940, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant medical office building with elevator service and parking garage on the first level.
Where is this medical office space located?
The property is located at 910 Major Sherman Ln Monterey, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 6,159 SF multi‑tenant medical office building near downtown Monterey; Wood frame/stucco construction with a parking garage on the first level; Medical offices on the second and third floors
