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Property profile & analytics
OFF-MARKET
Commercial land

24480 Citation Ct Monterey, CA 93940-6537

1.59 ac lot
Individually Owned 4-yr Hold Free & Clear
Property ID
US09-1506764
Property summary
AI-generated overview

This exceptional 1.59-acre commercial land parcel presents a unique investment opportunity in the desirable Monterey, CA market. Located at 24480 Citation Court, this property offers significant potential for a variety of commercial ventures. The expansive acreage provides ample space for development, allowing for flexibility in design and functionality. Its strategic location within Monterey ensures high visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in this vibrant community. The property's zoning regulations should be independently verified to ensure compatibility with intended development plans. Given the size and location, this land is well-suited for a range of commercial uses, from retail establishments and office spaces to light industrial facilities or potentially even a mixed-use development. Prospective buyers are encouraged to conduct their own due diligence to assess the property's suitability for their specific business needs and to explore the potential for maximizing its value. The asking price of $587,000 represents a compelling entry point into the Monterey commercial real estate market, offering a strong return on investment for the discerning buyer. This is a rare opportunity to acquire a substantial land parcel in a prime location, presenting a blank canvas for a successful commercial undertaking. Serious inquiries are welcome.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1.59 ac (69,391 SF)
APN 173-121-003-000
UPID US09-1506764
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Yuan Shen · 4 yrs held
Yuan Shen
since 2021
Last sale
$483,000
7 recorded transactions
2021
Price N/A
2021
Price N/A
2020
Price N/A
2014
$483,000
2001
Price N/A
1997
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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