$1,995,000
761-767 Lighthouse Avenue Monterey, CA 93940
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Listed by James Kendall • Baird Partnership, Inc.
$1,995,000
Est. payment /mo
7,150 SqFt
UPDATED:
10/11/2024 05:39 PM
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 7,150 sqft
Price per Sqft $279
MLS Listing ID ML81954010
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1970
Lot Size 9,720 Sqft
Property Description
New Price! 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.
Location
State CA
County Monterey
Interior
Heating Wall Furnace
Flooring Concrete
Fireplace No
Exterior
Parking Type Common
Building
Water Public
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