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    Mixed-Use Property in Monterey Title is generated by Realmo AI

    MONTEREY, Monterey 93940

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    For Sale
    Under Contract
    $1,500,000

    COMMERCIAL - MONTEREY

    Property size:
    2,633 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $569/SF
    Added:
    May 4, 2026
    Days on Market:
    18
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for MONTEREY

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm
    Parking
    6
    Parking features
    On Street, Garage, Assigned, Off Street
    Interior features
    Skylight
    Standard status
    Active Under Contract
    Size
    2,633 SF
    Lot size
    0.11 Acres

    Utilities

    Heating system
    Wall Furnace, Natural Gas
    Water source
    Private

    Building Details

    Year built
    1966
    Flooring type
    Concrete, Laminate, Tile, Linoleum
    Roof type
    Fiberglass, Composition

    We can help!

    Listing Contact
    Monterey Peninsula Home Team

    Listing agent Monterey Peninsula Home Team License #70000352

    Listing office KW Coastal Estates 26135 Carmel Rancho Blvd Ste F 200, Carmel, CA

    Listing date May 4, 2026

    MLS# ML82032652

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Monterey location, blocks from Monterey Bay Aquarium and Cannery Row
    • Mixed‑use property with two commercial units and two residential units
    • Two street‑facing commercial units on busy Lighthouse Avenue offer high visibility
    • Diversified income potential for investors or owner‑users
    • Residential unit includes a deck and off‑street parking
    • Detached 1BD/1BA apartment at the rear of the lot

    Overview

    This four-unit mixed-use property is located in Monterey, California, near the Monterey Bay Aquarium, Cannery Row, and the waterfront. The property includes two street-facing commercial units on Lighthouse Avenue, offering visibility and foot traffic. There are also two residential units: a two-bedroom, one-bathroom apartment above the commercial spaces, featuring a deck and off-street parking, and a detached one-bedroom, one-bathroom apartment at the rear of the lot. The property is suitable for investors or owner-users seeking diversified income. The property size is 2633 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Monterey
    County
    Monterey
    State
    Longitude
    -121.902419
    Latitude
    36.590888

    Nearby Similar for Sale

    • $1,500,000
      2,633 SF

      Monterey Mixed-Use Investment Opportunity

      Four-unit mixed-use property in Monterey near Cannery Row.
      MONTEREY, 93940
      View Details
    • $1,650,000
      3,436 SF

      Monterey Fourplex with ADU Potential

      Fourplex in New Monterey with plans for additional ADU.
      Monterey, 93940
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Four-unit mixed-use property near Monterey Bay Aquarium.
    Where is this mixed-use property located?
    The property is located at MONTEREY Monterey.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime Monterey location, blocks from Monterey Bay Aquarium and Cannery Row; Mixed‑use property with two commercial units and two residential units; Two street‑facing commercial units on busy Lighthouse Avenue offer high visibility
    (831) 594-3290
    We can help!
    Listing Contact
    Monterey Peninsula Home Team
    Real Estate License ID: 70000352
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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