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2124 Fremont St Monterey, CA 93940

Sponsored
For Sale
$11,000,000

Prime Monterey Motel, 53 Keys, High NOI

Property size:
13,037 SF

Description

Added:
Dec 11, 2024
Days on Market:
400
This exceptional 53-key Motel 6 in Monterey, California presents a compelling investment opportunity. Boasting 13,037 square feet on a 36,900 square foot lot, this two-story property underwent a complete renovation in 2024, ensuring modern amenities and maximizing its appeal to travelers. The property's strong financial performance is highlighted by a 7.07% cap rate and a net operating income (NOI) of $777,481, with an asking price of $11,000,000 ($843.75 per square foot). Built in 1963, this single-building motel enjoys a highly desirable location, offering convenient access to Monterey State Beach, Cabrillo Highway, Fisherman's Wharf, Monterey Peninsula Airport, and the Del Monte Golf Course. Its proximity to Seaside, Carmel, and Pacific Grove further enhances its attractiveness to tourists and business travelers. The property's location provides easy access to major attractions and transportation routes, ensuring consistent occupancy and strong revenue generation. The property is identified by APN 013-181-009-000 and is owned by Bayside Hospitality LLC. This turnkey operation is ready for immediate ownership and offers significant potential for future growth and profitability within the thriving Monterey hospitality market. The property is offered fee simple.

Property Features for 2124 Fremont St

General Information

Property type
Motels
Square Feet
13,037 SF

Building Details

Year Built/Renovated
1963/2024
Buildings
1
Stories
2

Property Profile Location Intelligence

Current Use by Public Records

Motel 6 Monterey, ... Motel

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

Location Insight

  • Map
  • Local Demand
City
Monterey
County
Monterey
State
California
Longitude
-121.8605086
Latitude
36.5959545

FAQs

What type of property is this?
Motel - Prime Monterey Motel, 53 Keys, High NOI
Where is this motel located?
The property is located at 2124 Fremont St Monterey, CA.
What is the asking price?
The asking price for this property is $11,000,000.
More about this property
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