Mission St, Carmel, CA
Ground lease with improvements in downtown Carmel, California.
- Added:
- Aug 30, 2024
- Days on Market:
- 654
- Last Refresh:
- May 20 at 8:47 pm
Property Features for Mission St
General Information
- Standard status
- Active
- Size
- 3,518 SF
- Lot size
- 0.19 Acres
- Property subtype
- RETAIL
Listing agent Peter A. Baird License #00533485
Listing office Mahoney & Associates Commercial Real Estate (831) 646-1919
Listing date Aug 30, 2024
Source Moodyscre
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
HighLights
- Prime downtown Carmel, CA retail location.
- Ownership of improvements including three commercial units and one apartment.
- Approximately 33 years remaining on a 99‑year ground lease.
- Ground lease of approximately ±4,276 SF of land.
- Part of a larger 8,000 SF parcel.
- Opportunity to acquire a leasehold interest in a desirable area.
Overview
Local Financial Insights For Apartment 5plus
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 | $105.5k | $30.00 |
| − Vacancy | −$2.6k | −$0.75 |
| EGI | $102.9k | $29.25 |
| − OpEx | −$46.3k | −$13.16 |
| NOI | $56.6k | $16.09 |
Alternative Uses
Current Use by Public Records
Map
- City
- Carmel
- County
- Monterey
- State
- California
- Longitude
- -121.921
- Latitude
- 36.5515
