439 Alvarado St Monterey, CA 93940-2710
- Banks
- 9,004 SF
- 0.28 lot acres
Sep 23, 2021
Current Use by Public Records
- Mechanics Bank - Monterey Branch / Bank / Atm
Property Details for 439 Alvarado St
- Year built
- 1942
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.28 lot acres
- Property size
- 9,004 SF
- Property type
- Banks
- APN
- 001-573-012-000
- APU
- 1573012000
Description
This exceptional commercial property, located at 439 Alvarado in Monterey, California, presents a compelling investment opportunity. The 11,111 square foot building sits on a 0.28-acre lot and is currently generating strong income streams from two established tenants. The anchor tenant, a bank, is secured by a 7-year triple net (NNN) lease, providing long-term stability and predictable cash flow. Adding to the property's value, the second-floor tenant is operating under a newly signed 4-year triple net (NNN) lease, further solidifying the investment's potential. This prime Monterey location offers excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable, high-yield commercial property. The building's size and layout provide flexibility for future tenants, should the need arise. The current lease agreements minimize landlord responsibilities, making this a low-maintenance investment with significant upside potential. This is a rare opportunity to acquire a well-leased commercial property in a desirable Monterey location. The asking price of $5,600,000 reflects the property's strong tenant occupancy, favorable lease terms, and prime location. Serious inquiries are encouraged.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $425,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Monterey
- County
- Monterey
- State
- California
- Longitude
- -121.894
- Latitude
- 36.5991
- CBSA code
- 41500
- CBSA name
- SALINAS, CA METROPOLITAN STATISTICAL AREA
