499 Alvarado St Monterey, CA 93940-2739
Property profile & analytics
499 Alvarado St Monterey, CA 93940-2739
- Banks
- 5,364 SF
- 0.13 lot acres
Property ID
US09-3207336
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.
Location Intelligence
Current Use by Public Records
- Rite Aid Pharmacy / Pharmacy
- Vincent J. Cardinale, RPH / Pharmacy
- higi / Physician
- Western Union / Bank / Credit Union
- Coinhub Bitcoin ATM Teller / Atm
Property Details for 499 Alvarado St
- Year built
- 1951
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.13 lot acres
- Property size
- 5,364 SF
- Property type
- Banks
- APN
- 001-574-012-000
- APU
- 1574012000
Description
This 7,873-square-foot executive office building in Monterey, California, is offered at $2,950,000. Located at 499 Alvarado Street, this multi-tenant property boasts a prominent corner location at the intersection of Alvarado, Pearl, and Munras Avenues, offering high visibility. Built in 1951 and zoned C-1, the building sits on a 10,237-square-foot lot. Currently, the occupancy is 40%, with a Net Operating Income (NOI) of $235,245.24, resulting in a 6.92% cap rate. The asking price per square foot is $431.86. The property features a 5-year remaining lease term under a NNN lease structure. Its central location in downtown Monterey provides easy access to numerous amenities, including Trader Joe's, Pacific Valley Bank, Peets Coffee, restaurants, shops, City Hall, a transit center, and Fisherman's Wharf. Street parking is available. The building includes approximately 4,500 square feet of divisible retail space, presenting multiple tenant options. This is a highly walkable area with exceptional visibility and proximity to key businesses and attractions, making it an attractive investment opportunity.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Monterey
- County
- Monterey
- State
- California
- Longitude
- -121.895
- Latitude
- 36.5979
- 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
$17,135
$424,750
$1,014,220
$1,438,970
-
$0.00
$0.00
$0.00
