Sign Up Successful!
You now have access to more from Realmo!
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

    71 Ocean Ave Monterey, CA 93940-3317

    • Commercial real estate
    • 1,105 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Nov 22, 2021
    $235,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1985057
    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

    • Aquiline Construction, Inc. / Construction Company

    Property Details for 71 Ocean Ave

    Year built
    1910
    Construction
    WOOD
    Lot size
    0.09 lot acres
    Property size
    1,105 SF
    Property type
    Commercial real estate
    APN
    001-824-012-000
    APU
    1824012000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.88
    Latitude
    36.5995
    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
    $3,672
    $260,540
    $77,744
    $338,284
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      739 Foam St

      COMMERCIAL (GENERAL) • 0.13 Acres
      739 Foam St, Monterey, CA 93940-1002
      View Details
    • Value Estimation by Request
      11,853 SF

      201203 Calle Del Oaks

      Commercial real estate • 11,853 SF
      201203 Calle Del Oaks, Monterey, CA 93940
      View Details
    • Value Estimation
      $4,255,000
      15,898 SF

      724 Abrego St

      SHOW ROOM, WAREHOUSE • 15,898 SF
      724 Abrego St, Monterey, CA 93940-3100
      View Details
    • Value Estimation
      $525,000
      3,539 SF

      462 Webster St

      COMMERCIAL (GENERAL) • 3,539 SF
      462 Webster St, Monterey, CA 93940-3262
      View Details
    • Value Estimation by Request
      2,461 SF

      429 Alvarado St

      SHOW ROOM, WAREHOUSE • 2,461 SF
      429 Alvarado St, Monterey, CA 93940-2710
      View Details
    • Value Estimation by Request
      876 SF

      562 Anthony St

      COMMERCIAL (GENERAL) • 876 SF
      562 Anthony St, Monterey, CA 93940-3003
      View Details

    Similar Nearby for Sale

    • $3,900,000
      19,558 SF

      Downtown Monterey Commercial Gem

      Historic building, huge basement, elevator.
      449 Alvarado St, Monterey, CA 93940
      View Details
    • $2,500,000
      5,630 SF

      Prime Monterey Commercial Building

      Spacious, vacant office building in Monterey.
      245 Washington St, Monterey, CA 93940
      View Details
    • $1,800,000
      2,537 SF

      Monterey Medical Office Building

      Prime Medical Office, Great Location
      167 Davis Ln, Monterey, CA 93940
      View Details
    • $1,650,000
      2,493 SF

      Monterey Medical Office Condos

      Two Suites, Prime Location, High Demand
      900 Cass St, Monterey, CA 93940
      View Details
    • $695,000
      0.15 Acres

      Monterey Commercial Property: High Visibility

      Prime Monterey location, versatile space, high traffic.
      2103 Fremont St, Monterey, CA 93940
      View Details
    • $2,950,000
      7,873 SF

      Downtown Monterey Landmark Building

      Prime Retail/Office Space, Financing Available
      499 Alvarado St, Monterey, CA 93940
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      2,918 SF

      Medical/Office Space For Rent

      First floor suite with exam rooms, offices, and restrooms.
      24591 Silver Cloud Ct, Monterey, CA 93940
      View Details
    • $2,200,000
      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
    • $2.00 SF/Yr
      740 SF

      Downtown Monterey Office Space

      Recently renovated office space in downtown Monterey, California.
      700 Cass St, Monterey, CA 93940
      View Details
    • $28 SF/Yr
      2,500 SF

      Office Space with Private Deck

      Elevator-serviced office space featuring a private deck and ample parking.
      9821 Blue Larkspur Ln, Monterey, CA 93940
      View Details
    • Contact for pricing
      22,489 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
    • $2 SF/Yr
      2,278 SF

      Monterey Office Suites For Rent

      Centrally located office suites with bay views and patio.
      550 Hartnell St, 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.
    71 Ocean Ave
    Monterey, CA 93940-3317
    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.