Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    381 David Ave Monterey, CA 93940-1142

    • Retail space
    • 2,533 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Aug 12, 2022
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2434454
    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

    • Western Union / Bank / Credit Union
    • 7-Eleven / Grocery & Convenience Store
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 381 David Ave

    Year built
    1986
    Construction
    TILT-UP CONCRETE
    Lot size
    0.36 lot acres
    Property size
    2,533 SF
    Property type
    Retail space
    APN
    001-074-011-000
    APU
    1074011000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $610,000
      6.5%
      $565,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $338,000
      Market price range: $90.3k - $424k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $740,000
      Current use
      MEDICAL BUILDING
      $785,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.905
    Latitude
    36.6163
    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
    $6,570
    $362,274
    $210,321
    $572,595
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      654 SF

      499 Wave St

      RETAIL STORES (PERSONAL SERVICES) • 654 SF
      499 Wave St, Monterey, CA 93940-1424
      View Details
    • Value Estimation
      $2,235,000
      2,400 SF

      557 Ramona Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      557 Ramona Ave, Monterey, CA 93940
      View Details
    • Value Estimation
      $535,000
      4,736 SF

      647 Cannery Row

      RETAIL STORES (PERSONAL SERVICES) • 4,736 SF
      647 Cannery Row, Monterey, CA 93940-1026
      View Details
    • Value Estimation
      $1,410,000
      1,705 SF

      601 Cass St

      RETAIL STORES (PERSONAL SERVICES) • 1,705 SF
      601 Cass St, Monterey, CA 93940
      View Details
    • Value Estimation
      $2,425,000
      11,022 SF

      2090 Fremont St

      RETAIL STORES (PERSONAL SERVICES) • 11,022 SF
      2090 Fremont St, Monterey, CA 93940-5237
      View Details
    • Value Estimation
      $1,025,000
      4,494 SF

      350 Pacific St

      RETAIL STORES (PERSONAL SERVICES) • 4,494 SF
      350 Pacific St, Monterey, CA 93940-2445
      View Details

    Similar Nearby for Sale

    • $1,500,000
      2,633 SF

      Mixed-Use Property in Monterey

      Four-unit mixed-use property near Monterey Bay Aquarium.
      883 Lighthouse Ave, Monterey, CA 93940
      View Details
    • $3,700,000
      16,563 SF

      Monterey Commercial Corridor Opportunity

      Partially occupied commercial property in Monterey's commercial corridor.
      527-539 Ramona Ave, Monterey, CA 93940
      View Details
    • $800,000
      9,235 SF

      95 Old

      Retail space • 9,235 SF
      95 Old, Monterey, CA 93940
      View Details
    • Contact for pricing
      15,230 SF

      Retail Space Near Highway 1

      Retail property with direct highway access and regional draw.
      451-465 Canyon Del Rey Blvd, Monterey, CA 93940
      View Details
    • $1,500,000
      2,633 SF

      Monterey Mixed-Use Investment Opportunity

      Four-unit mixed-use property in Monterey near Cannery Row.
      883 Lighthouse Ave, Monterey, CA 93940
      View Details
    • $2,200,000

      Monterey Commercial Property For Sale

      Three parcels available for sale in Monterey, California.
      591 Lighthouse Ave, Monterey, CA 93940
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,872 SF

      Monterey Retail Space For Lease

      674,000 SF open-air center with 80 shops and restaurants.
      1400-1470 Del Monte Ctr, Monterey, CA 93940
      View Details
    • $1.00 SF/Yr
      21,000 SF

      Cannery Row Flexible Retail Space

      Unique location with flexible floor plan on Cannery Row.
      300 Cannery Row, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      1,204 SF

      Retail Space in New Monterey

      Retail space with high traffic, open floor plan, cooler.
      131 Lighthouse Ave, Monterey, CA 93940
      View Details
    • Contact for pricing
      2,089 SF

      Monterey Retail Destination

      Dominant open-air shopping center with diverse retail and dining options.
      222-250 Del Monte Ctr, Monterey, CA 93940
      View Details
    • Contact for pricing
      120 SF

      Monterey Retail Space For Rent

      Retail space available in Del Monte Shopping Center.
      1410 Del Monte Ctr, Monterey, CA 93940
      View Details
    • Contact for pricing
      41,434 SF

      Monterey Retail Destination For Lease

      674,000 SF open-air center with 80 shops/restaurants.
      1510 Del Monte Ctr, Monterey, CA 93940
      View Details

    Property Visit Statistics

    • Visits by month
      27.0k
    • Visitors by month
      14.8k
    • Avg Time on site
      16 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    381 David Ave
    Monterey, CA 93940-1142
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!