Commercial Real Estate Market in Monterey, CA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
71 active listings and 1,767 off-market properties in Monterey, CA. Commercial property asks $525/SF to buy and $52.75/SF/Yr to lease.
Market Trends
Monterey, CA spans 35.7 square miles in Monterey County, California. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Monterey, CA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Monterey, CA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Monterey, CA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Monterey, CA asks $364/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Open space 42.3%
- Residential 33.5%
- Industrial 8.7%
- Commercial 4.3%
Largest Zones share of zoned land by district
Planned Community
Residential 1
Open Space
Presidio
Industrial
Monterey, CA zones 4,661 acres across 14 districts. Commercial zoning covers 4.3% of zoned land, residential 33.5%, open space 42.3% and industrial 8.7%. The largest single district is Planned Community at 25%. For commercial buyers the practical constraint is that only 13% of land carries a commercial or industrial designation.
Planned Community (PC)
The purpose of PC zone is to provide development of large parcels of land in order to reduce or eliminate the rigidity, delays, ensure orderly and thorough planning and review procedures that will result in quality urban design, encourage variety and avoid monotony in large developments by allowing greater freedom in selecting the means to provide access, li…
Market overview
Demographics & Economy
Monterey, CA has 33,904 residents in 15,462 households. Density runs 950 people per square mile. Median household income here is $110,669 and median gross rent $2,305 a month.
33,904
Population
15,462
Households
2.2
Avg Household Size
39
Median Age
55%
College-Educated
95%
High-School Grad
35.7 sq mi
ZIP Area
950
Density / Sq Mi
$110,669
Median Household Income
$58,591
Median Earnings
$2,305
Median Rent
$1,039,700
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Monterey?
Commercial property in Monterey, CA asks an average of $525 per square foot. The 6 most recent recorded sales traded at a median of $873/SF. Multifamily carries the highest asking price at $364/SF.
How much does it cost to lease commercial space in Monterey?
Asking lease rates in Monterey, CA average $52.75 per square foot per year.
What zoning applies to commercial property in Monterey?
Monterey, CA zones 4,661 acres across 14 districts, of which 4.3% is commercial and 8.7% industrial. The largest single district is Planned Community at 25% of zoned land. The purpose of PC zone is to provide development of large parcels of land in order to reduce or eliminate the rigidity, delays, ensure orderly and thorough planning and review procedures that will result in quality urban design, encourage variety and avoid monotony in large developments by allowing greater freedom in selecting the means to provide access, li… Residential zoning covers 33.5% and open space 42.3%.
Where does Realmo's Monterey market data come from?
Realmo compiles Monterey, CA figures from 7 recent recorded sales, 46 active sale listings, 25 active lease listings, 1,767 tracked off-market properties, the current Monterey zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 46 active for-sale and 25 active for-lease listings in Monterey, CA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 4,661 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
