761767 Lighthouse Avenue , Monterey, CA 93940
Monterey, CA 93940
Description
This mixed-use owner/user or investment opportunity has an approximately 5,550 SF two-story retail/office building and an approximately 1,600 SF two-story duplex (1br/1ba each) situated on +/- 9,720 SF of land with two APNs. The Seller has worked with the City of Monterey and the Monterey Peninsula Water Management District and received Planning and Building Dept. approval to convert the (currently vacant) 2nd floor of the front building into three residential units (two 2br/1ba, one 1br/1ba). The building plans are finished, but the permit has not yet been pulled. The zoning of the Lighthouse Area Specific Plan aims to create a livable community (comprised of mixed-use properties) and a revitalized destination point on Lighthouse Avenue for residents and visitors. Both commercial tenants have occupied the property for many years and have multiple years left on their leases. The ground floor of the duplex is used as storage by one of the commercial tenants and the upstairs unit of the duplex is rented at $1750 M-M.
Details
| MLS# | ML81954010 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 219 |
| Listing Provided By | Baird Partnership, Inc. 831-646-1919 | James Kendall |
Features
| SQ Feet | 7,150 |
|---|---|
| Story(s) | 2 |
| Building(s) | 2 |
| Zoning | Commercial/Mixed-use - Li |
| Acreage | 0.22 |
Market Activity 93940
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Learn More About This Property
| State | CA |
|---|---|
| County | Monterey |
| City | Monterey |
| Zip Code | 93940 |
| Area | 699 Not Defined |
| Listing VS Median (in 93940) | |
Price: $2,075,000 low | high Med: $1,149,000 SqFt: 7,150 low | high Med: 1,620 $ / SqFt: $290 low | high Med: $709 On Site: 219 low | high Med: 585.000000 | |
