Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    889 Alice St Monterey, CA 93940-1964
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    889 Alice St Monterey, CA 93940-1964

    View on Map
    • Apartment buildings
    • 5,212 SF
    • 0.19 lot acres
    Off-Market
    Last Sale Jan 20, 2022
    $2,182,000
    Property ID
    US09-2942991
    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.
    Value Estimations
    $2,060,000
    Show details
    Cap Rate Potential
    4.3%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 889 Alice St

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.19 lot acres
    Property size
    5,212 SF
    Property type
    Apartment buildings
    APN
    001-188-001-000
    APU
    1188001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,945,000
      ML approach
      $1,930,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,395,000
      6.5%
      $1,290,000
      7%
      $1,200,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,790,000
      Current use
      OFFICE BUILDING
      $2,835,000
      Change: +2% Conversion: Moderate
      RESTAURANT
      $2,825,000
      Change: +1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,615,000
      Change: -6% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $2,565,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.917
    Latitude
    36.6105
    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
    $24,530
    $612,000
    $1,615,440
    $2,227,440
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.35 Acres

      800 Alice St

      APARTMENT HOUSE (100+ UNITS) • 0.35 Acres
      800 Alice St, Monterey, CA 93940-1959
      View Details
    • Value Estimation by Request
      0.30 Acres

      2000 David Ave

      APARTMENT HOUSE (5+ UNITS) • 0.30 Acres
      2000 David Ave, Monterey, CA 93940-1961
      View Details
    • Value Estimation by Request
      0.30 Acres

      217 Dunecrest Ave

      APARTMENT HOUSE (5+ UNITS) • 0.30 Acres
      217 Dunecrest Ave, Monterey, CA 93940-3440
      View Details
    • Value Estimation by Request
      5.82 Acres

      1330 Skyline Dr

      APARTMENT HOUSE (100+ UNITS) • 5.82 Acres
      1330 Skyline Dr, Monterey, CA 93940-4139
      View Details
    • Value Estimation by Request
      1,652 SF

      415 Casa Verde Way

      APARTMENT HOUSE (100+ UNITS) • 1,652 SF
      415 Casa Verde Way, Monterey, CA 93940-5256
      View Details
    • Value Estimation by Request
      1,200 SF

      825 Casanova Ave

      APARTMENT HOUSE (100+ UNITS) • 1,200 SF
      825 Casanova Ave, Monterey, CA 93940-6876
      View Details

    Similar Nearby for Sale

    • $1,995,000

      Monterey Triplex Near Beach

      Three-unit residential property near the beach and Navy school.
      1150 8Th St, Monterey, CA 93940
      View Details
    • Contact for pricing
      5,033 SF

      Unique Monterey Multifamily Property

      Two multifamily properties offered together in Monterey, California.
      942 Munras Ave, Monterey, CA 93940
      View Details
    • $1,500,000
      2,204 SF

      Monterey Triplex in Prime Location

      Well-maintained triplex in Monterey's sought-after neighborhood, near downtown.
      1113 Mcclellan Ave, 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
    • New
      $1,650,000
      3,436 SF

      Monterey Fourplex with ADU Potential

      Fourplex in New Monterey with plans for additional ADU.
      830 Parcel St, 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

    Similar Nearby for Lease

    • 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

      Medical Office Space in Monterey

      Medical office space available for sublease in Monterey, CA.
      910 Major Sherman Ln, Monterey, CA 93940
      View Details
    • Contact for pricing
      1,993 SF

      Downtown Monterey Class A Office

      Class A office space in downtown Monterey for lease.
      409 Washington St, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      1,627 SF

      Medical/Professional Building on Munras Avenue

      Medical or professional building with on-site parking and elevator.
      665 Munras Ave, Monterey, CA 93940
      View Details
    • Contact for pricing
      3,600 SF

      Monterey Office Space with Balcony

      Office space featuring direct elevator access and wraparound balcony.
      660 Camino Aguajito, Monterey, CA 93940
      View Details
    • Contact for pricing
      1,005 SF

      Professional Office Space For Rent

      Updated office space with easy access and good visibility.
      1900 Garden Rd, 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.
    889 Alice St
    Monterey, CA 93940-1964
    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!