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    1200 Piedmont Ave Pacific Grove, CA 93950-5157
    Property profile & analytics

    1200 Piedmont Ave Pacific Grove, CA 93950-5157

    View on Map
    • Office buildings
    • 6,469 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Jul 17, 2023
    $1,885,000
    Property ID
    US09-5101375
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,925,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1200 Piedmont Ave

    Year built
    1989
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    6,469 SF
    Property type
    Office buildings
    APN
    007-613-037-000
    APU
    7613037000

    Description

    This exceptional office property at 1200 Piedmont Avenue in Pacific Grove, California, offers a unique opportunity for businesses seeking premium space. Located in Monterey County, this 7,414 square foot building boasts a variety of executive office suites, perfect for companies of all sizes. Currently, 4,311 square feet of contiguous space is immediately available, with a minimum divisible space of 1,146 square feet. The building, constructed in 1989, is situated on a 0.22-acre lot and features convenient elevator access. The property's multiple tenancy structure provides flexibility for various business needs. Its prime location in Pacific Grove, zip code 93950, offers easy access to local amenities and transportation. This is an ideal opportunity to establish or expand your business in a desirable and well-maintained office setting. The available space is ready for immediate occupancy, providing a seamless transition for your operations. Inquire today to learn more about this exceptional Pacific Grove office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,910,000
      ML approach
      $2,030,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,615,000
      6.5%
      $1,490,000
      7%
      $1,385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,414,000
      Market price range: $444k - $1.44M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,675,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,660,000
      Change: -1% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,580,000
      Change: -4% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,560,000
      Change: -4% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pacific Grove
    County
    Monterey
    State
    California
    Longitude
    -121.921
    Latitude
    36.6037
    CBSA code
    41500
    CBSA name
    SALINAS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,737
    $832,320
    $1,128,834
    $1,961,154
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,155,000
      5,274 SF

      621 Frst Ave

      OFFICE BUILDING (MULTI-STORY) • 5,274 SF
      621 Frst Ave, Pacific Grove, CA 93950-4264
      View Details
    • Value Estimation by Request
      1,830 SF

      230 Grand Ave

      OFFICE BUILDING • 1,830 SF
      230 Grand Ave, Pacific Grove, CA 93950-3420
      View Details
    • Value Estimation by Request
      1,830 SF

      205 15th St

      OFFICE BUILDING • 1,830 SF
      205 15th St, Pacific Grove, CA 93950-3410
      View Details
    • Value Estimation
      $1,215,000
      5,548 SF

      716 Lighthouse Ave

      OFFICE BUILDING (MULTI-STORY) • 5,548 SF
      716 Lighthouse Ave, Pacific Grove, CA 93950-2565
      View Details
    • Value Estimation
      $1,645,000
      8,270 SF

      227 Grand Ave

      OFFICE BUILDING • 8,270 SF
      227 Grand Ave, Pacific Grove, CA 93950-3449
      View Details
    • Value Estimation
      $535,000
      2,556 SF

      721 Lighthouse Ave

      OFFICE BUILDING (MULTI-STORY) • 2,556 SF
      721 Lighthouse Ave, Pacific Grove, CA 93950-2551
      View Details

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      3,737 SF

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    • $2,988,000
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      Mixed-Use Investment Opportunity

      Mixed-use property with redevelopment potential in a desirable location.
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    Similar Nearby for Lease

    • $1.95 SF/Yr
      3,000 SF

      Downtown Pacific Grove Retail Space

      Retail space for lease in downtown Pacific Grove.
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      View Details
    • Contact for pricing
      6,898 SF

      Retail Space in Pacific Grove

      Retail space available in a shopping center anchored by Lucky.
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      View Details
    • Contact for pricing
      21,708 SF

      Retail Space in Pacific Grove

      Retail space available soon in Monterey Peninsula shopping center.
      160 Country Club Gate Ctr, Pacific Grove, CA 93950
      View Details
    • $1.60 SF/Yr
      1,360 SF

      Retail Space Near Grocery Stores

      Retail space for rent near Safeway and Trader Joe’s.
      1219 Forest Ave, Pacific Grove, CA 93950
      View Details
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    Pacific Grove, CA 93950-5157
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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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