498 Alvarado St Monterey, CA 93940

Property Details for 498 Alvarado St

Property size

13,109 SF

Property type

Retail properties

Description

This exceptional retail property, located at 498 Alvarado Street in Monterey, California, presents a compelling investment opportunity. Boasting 13,109 square feet, the property is offered at an asking price of $3,500,000, representing a strong 6.61% capitalization rate. The property's robust financial performance is highlighted by a substantial annual net income of $231,309.64, derived from a gross annual income of $296,309.64 and annual expenses of $65,000. This translates to a monthly net income of $19,275.80. Situated in the vibrant city of Monterey within Monterey County, and conveniently located at 93940 zip code, this property benefits from excellent visibility and accessibility. The property's size and location make it ideal for a variety of retail uses, offering significant potential for growth and return on investment. Detailed financial statements are available upon request. This is a rare opportunity to acquire a high-performing retail asset in a desirable California market. Don't miss out on this chance to secure a valuable addition to your investment portfolio. The property is currently generating a strong cash flow, making it an attractive option for both seasoned and new investors seeking a stable and profitable investment in the thriving Monterey retail market.