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    OFF-MARKET Estimated value $2,100,000
    Medical Office Space

    245 Washington St, Monterey, CA 93940-2409

    0.23 ac lot
    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US09-2099268
    Property summary
    AI-generated overview

    This exceptional commercial property at 245 Washington Street, Monterey, CA, presents a unique owner-user opportunity. The building boasts a substantial 5,630 square feet of space, distributed across two floors. The ground floor features recently upgraded office units, ready for immediate occupancy. The second floor comprises three distinct office suites, each equipped with its own private full bathroom, offering flexibility and privacy for multiple tenants or departments. The property sits on a 0.23-acre lot, providing ample space and potential for future development or expansion. Currently zoned as Open Space, the property enjoys a legal, non-conforming use designation for medical/office purposes. It's important to note that this property is not included in the waterfront Master Plan. The building will be delivered vacant, allowing for immediate customization and adaptation to the new owner's specific needs and business operations. The asking price for this versatile and well-maintained commercial property is $2,500,000. This presents a compelling investment opportunity in a desirable Monterey location. The existing infrastructure and recent upgrades minimize upfront capital expenditures, allowing for a swift and efficient transition into operations. The property's size and layout offer significant potential for a variety of commercial uses within the permitted zoning guidelines.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Lot 0.23 ac (10,021 SF)
    APN 001-701-003-000
    UPID US09-2099268
    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
    Current use
    Occupant on record · Public records
    • Waterfront Attendant Lot Parking Lot & Garage
    • Dr. David D. Spilker, MD Physician
    • The Famous Old Fisherman's Wharf Sign (Bike/Boat/Book/etc) Store Printing Service
    • 245 Washington St Parking Parking Lot & Garage
    • San Nicola fishing boat Tour Operator
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $2.05M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $2.10M
    Owner & transaction history
    Jdp Holdings LLC · 1 yrs held
    Jdp Holdings LLC
    since 2025
    Last sale
    $2.1M
    7 recorded transactions
    2025
    $2.1M
    2024
    2022
    $2.0M
    2018
    2017
    2014
    2007
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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