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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2066 Fremont St Monterey, CA 93940-5237

    • Medical offices
    • 10,084 SF
    • 9.96 lot acres
    OFF-MARKET
    Last Sale
    Nov 18, 2021
    $5,500,000
    Value Estimations
    $4,960,000
    Show details
    Cap Rate Potential
    3.6%
    Medical offices
    Location Intelligence
    Property ID
    US09-3383675
    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.

    Current Use by Public Records

    • Jon Kitaji, M.D. / Nephrologist
    • U.S. Renal Care Monterey / Dialysis Center

    Property Details for 2066 Fremont St

    Year built
    1948
    Construction
    WOOD
    Lot size
    9.96 lot acres
    Property size
    10,084 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    013-191-018-000
    APU
    13191018000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,685,000
      ML approach
      $5,550,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,573,000
      Market price range: $1.63M - $4.18M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,125,000
      Current use
      OFFICE BUILDING
      $5,490,000
      Change: +76% Conversion: Easy
      RESTAURANT
      $5,460,000
      Change: +75% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $5,395,000
      Change: +73% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $5,060,000
      Change: +62% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $4,960,000
      Change: +59% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,020,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.863
    Latitude
    36.5955
    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
    $44,811
    $2,040,000
    $2,082,840
    $4,122,840
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,555,000
      18,105 SF

      966 Cass St

      MEDICAL BUILDING • 18,105 SF
      966 Cass St, Monterey, CA 93940-4539
      View Details
    • Value Estimation
      $4,555,000
      20,098 SF

      Monterey, CA 93940

      MEDICAL BUILDING • 20,098 SF
      Monterey, CA 93940
      View Details
    • Value Estimation
      $1,185,000
      9,017 SF

      877 Pacific St Ste, Unit 100

      MEDICAL BUILDING • 9,017 SF
      877 Pacific St Ste, Monterey, CA 93940-4459
      View Details
    • Value Estimation
      $590,000
      2,537 SF

      167 Davis Ln

      MEDICAL BUILDING • 2,537 SF
      167 Davis Ln, Monterey, CA 93940
      View Details
    • Value Estimation by Request
      11,066 SF

      335 El Dorado St

      MEDICAL BUILDING • 11,066 SF
      335 El Dorado St, Monterey, CA 93940-4625
      View Details
    • Value Estimation
      $2,680,000
      10,617 SF

      24551 Silver Cloud Ct

      MEDICAL BUILDING • 10,617 SF
      24551 Silver Cloud Ct, Monterey, CA 93940-6532
      View Details

    Similar Nearby for Sale

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    • $1,000,000
      1,425 SF

      Medical Office Condos For Sale

      Two medical office condos in Monterey, one vacant, one leased.
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      High-traffic Monterey office, 7,873 SF, $2.95M
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      Historic building, huge basement, elevator.
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    Similar Nearby for Lease

    • $17 SF/Yr
      3,207 SF

      Downtown Monterey Medical Office Sublease

      ±3,207 SF Medical Office Space Available
      910 Major Sherman Ln, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      1,627 SF

      Medical/Professional Building on Munras Avenue

      Medical or professional building with on-site parking and elevator.
      665 Munras Ave, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      2,918 SF

      Medical/Office Space For Rent

      First floor suite with exam rooms, offices, and restrooms.
      24591 Silver Cloud Ct, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      2,300 SF

      Class A Office Space

      High-end office space in Ryan Ranch Office Park.
      21 Upper Ragsdale Dr, Monterey, CA 93940
      View Details
    • $2,200,000
      3,730 SF

      Professional Office Space Available

      Professional office space for lease or purchase with ample parking.
      9600 Blue Larkspur Ln, Monterey, CA 93940
      View Details
    • $2.00 SF/Yr
      740 SF

      Downtown Monterey Office Space

      Recently renovated office space in downtown Monterey, California.
      700 Cass St, Monterey, CA 93940
      View Details
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    2066 Fremont St
    Monterey, CA 93940-5237
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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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