$314.69 Per Sq Foot $12,078 est/mo Sourced by Back At You

761767 Lighthouse Avenue,Monterey, CA 93940

Monterey CA, 93940

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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

Listing IDML81954010
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1970
Days On Site61
Listing Provided ByBaird Partnership, Inc. 831-646-1919 | James Kendall

Features

SQ Feet7,150
Story(s)2
Building(s)2
ZoningCommercial/Mixed-use - Li
Acreage0.22

Market Activity 93940

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Learn More About This Property

StateCA
CountyMonterey
CityMonterey
Zip Code93940
Area699 Not Defined
Listing VS Median (in 93940)
Price:
$2,250,000
low | high
Med:
$1,262,500
93.888888888889% of Average
SqFt:
7,150
low | high
Med:
1,494
100% of Average
$ / SqFt:
$315
low | high
Med:
$857
100% of Average
On Site:
61
low | high
Med:
50.000000
100% of Average
Sourced by Back At You
Listing Updated: March 5, 2024 at 7:09:15 PM PST
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