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

    700 Cass St Monterey, CA 93940

    • Office buildings
    • 6,913 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1815393
    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

    • JulieTanaka / Physician
    • Ashtanga Yoga Monterey / Gym & Fitness Center
    • Monterey DUI Defense Center / Law Firm
    • Beauty Mark. Skin Studio + Acne Clinic / Medical Clinic / Skin Care Clinic
    • Christina Trujillo, Attorney at Law / Law Firm / Child Welfare Organization

    Property Details for 700 Cass St

    Year built
    1952
    Construction
    WOOD
    Property size
    6,913 SF
    Property type
    Office buildings
    APN
    001-591-058-000
    APU
    1591058000

    Description

    This two-story, 2,240-square-foot office building at 700 Cass St, Monterey, CA 93940, offers multiple suites for lease in Monterey County. The property features traditional office space, with a minimum divisible space of 400 square feet and a maximum contiguous space of 900 square feet. Currently, all 2,240 square feet are vacant and available for lease. Several suite options cater to small to medium-sized businesses. Suite 110 offers approximately 971 square feet at a rate of $2.00 per square foot, plus NNN charges. Suite 120 comprises approximately 900 square feet, also at $2.00 per square foot, plus NNN charges. Suite 201 is approximately 740 square feet and is available for $1,950 per month. Suite 202A is approximately 400 square feet and is available for $1,600 per month. Finally, Suite 202C, approximately 211 square feet, has an undisclosed lease rate. This exceptional location in Monterey provides easy access to local amenities and businesses. The property is ready for immediate occupancy. Contact us today to learn more about lease terms and availability for these versatile office suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,725,000
      6.5%
      $1,595,000
      7%
      $1,480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,886,000
      Market price range: $642k - $4.45M

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.896
    Latitude
    36.5948
    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
    $20,853
    $755,375
    $1,058,325
    $1,813,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,034 SF

      183 Sargent Ct

      OFFICE BUILDING • 1,034 SF
      183 Sargent Ct, Monterey, CA 93940-3115
      View Details
    • Value Estimation
      $1,835,000
      9,120 SF

      2460 Gdn Rd

      OFFICE BUILDING (MULTI-STORY) • 9,120 SF
      2460 Gdn Rd, Monterey, CA 93940-5398
      View Details
    • Value Estimation
      $1,005,000
      3,425 SF

      211 Hoffman Ave

      OFFICE BUILDING (MULTI-STORY) • 3,425 SF
      211 Hoffman Ave, Monterey, CA 93940-1413
      View Details
    • Value Estimation by Request
      960 SF

      345 Kolb Ave

      OFFICE BUILDING • 960 SF
      345 Kolb Ave, Monterey, CA 93940-4022
      View Details
    • Value Estimation
      $2,515,000
      11,541 SF

      1340 Munras Ave

      OFFICE BUILDING (MULTI-STORY) • 11,541 SF
      1340 Munras Ave, Monterey, CA 93940-6140
      View Details
    • Value Estimation
      $4,015,000
      23,982 SF

      434 Pacific St

      OFFICE BUILDING (MULTI-STORY) • 23,982 SF
      434 Pacific St, Monterey, CA 93940-2703
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,730 SF

      Professional Office Space Available

      Professional office space for lease or purchase with ample parking.
      9600 Blue Larkspur Ln, Monterey, CA 93940
      View Details
    • Contact for pricing

      Medical Office Condos For Sale

      Two medical office condos in Monterey, one vacant, one leased.
      900 Cass St, Monterey, CA 93940
      View Details
    • $1,000,000
      1,425 SF

      Medical Office Condos For Sale

      Two medical office condos in Monterey, one vacant, one leased.
      900 Cass St, 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
    • $1,995,000
      2,994 SF

      Prime Monterey Auto Repair Facility

      High-Visibility, Well-Maintained Shop, 2,994 SF
      2100 Del Monte Ave, Monterey, CA 93940
      View Details
    • $1,650,000
      0.03 Acres

      Monterey Medical Office Condos

      Two Suites, Prime Location, Investment Opportunity
      900 Cass St, Monterey, CA 93940
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      2,200 SF

      Downtown Monterey Office Space Available

      Office space in the heart of downtown Monterey for rent.
      301 Bonifacio Pl, Monterey, CA 93940
      View Details
    • Contact for pricing
      2,300 SF

      Class A Office Space

      High-end office space in Ryan Ranch Office Park.
      21 Upper Ragsdale Dr, Monterey, CA 93940
      View Details
    • Contact for pricing
      832 SF

      Monterey Office Space For Rent

      Office space featuring private restroom, executive offices, and reception area.
      435 Washington St, Monterey, CA 93940
      View Details
    • Contact for pricing

      Monterey Office Space for Lease

      Office space available for lease in Monterey, California.
      1077 Cass St, Monterey, CA 93940
      View Details
    • $2,000 /Mo
      1,309 SF

      Monterey Office and Warehouse Suites

      Office and warehouse suites available for lease in Monterey.
      8 Harris Ct, Monterey, CA 93940
      View Details
    • $24 SF/Yr

      Medical Office Space For Lease

      Medical office space available near Downtown Monterey.
      40 Dormody Ct, Monterey, CA 93940
      View Details
    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.
    700 Cass St
    Monterey, CA 93940
    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!