2200 Gdn Rd, Monterey, CA 93940-5329

This exceptional mixed-use investment property in Monterey, California, presents a rare opportunity. Located at 2200 Garden Rd, this 19,102 square foot building sits on a 2.98-acre lot and boasts a 6.25% cap rate with a strong NOI of $425,493. The property is 100% occupied by two tenants: BluePearl, under a 13-year net lease with 2.5% annual rent escalations, and a Federal Government entity. This provides exceptional stability and security in today's market. The building, constructed in 1984 and renovated in 2015 and 2022, features a functional layout suitable for a variety of uses. The property includes 60 parking spaces. The I-R-135 zoning allows for flexible use, including a multi-family residential overlay (medium density). The strategic location along Garden Road and State Route 68 (combined AADT 32,426) offers excellent visibility and access to Highway 1. The property benefits from robust demographics, with a daytime population of 112,578 and an average annual household income of $141,005 within a 5-mile radius. Nearby amenities include the Monterey Regional Airport, numerous retailers (Starbucks, Jack in the Box, Safeway, Walgreens, etc.), and prominent businesses such as the Monterey Herald and the Naval Postgraduate School. The asking price is $6,808,000, representing a price per square foot of $405.25. This is a truly exceptional investment opportunity in a thriving coastal California market.