Property profile

6 Ocean Dolores St Carmel, CA 93921

OFF-MARKET
Commercial real estate
0.09 ac lot Built 1930
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Property summary

AI-generated overview

This exceptional commercial property, formerly the China Art Center, sits on a highly desirable block in Carmel-by-the-Sea at 6 SW Ocean Avenue on Dolores Street. The 0.09-acre lot previously housed a 6,566 square foot building, which has undergone a complete interior demolition, leaving only the basement, ground floor, and a small second-floor landing. This demolition was part of a city-approved renovation plan, which includes the addition of a rooftop deck accessible by elevator. The approved plans also allow for the reinstatement of a 1,172 square foot second floor and the creation of an outdoor terrace. The property is currently vacant, presenting a unique opportunity for an owner-occupant or investor to develop a significant commercial presence in this prime location. The approved plans streamline the redevelopment process, minimizing potential delays and uncertainties. Given the property's location and the approved plans, this represents a rare chance to acquire a highly visible and strategically positioned commercial space in the heart of Carmel-by-the-Sea. The existing foundation and approved plans provide a solid base for a customized development, tailored to meet specific business needs. This is a truly exceptional opportunity to create a landmark commercial property in one of California's most sought-after destinations.

Property profile

Verified
Property type Commercial real estate
Year built 1930
Lot 0.09 ac (3,920 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

6 Ocean Dolores St Carmel, CA 93921
Carmel metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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