482 Alvarado St
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482 Alvarado St
9,828 SF 100% Leased Retail Building Monterey, CA 93940 £2,306,347 (£235/SF)
INVESTMENT HIGHLIGHTS
- Monterey Down Town!
EXECUTIVE SUMMARY
The subject property located in heart of Monterey Downtown and contains a commercial building with of retail and office spaces. This building has a two major entrances, one on Alvarado & Calle Principal, it also has an elevator and two large bathrooms. Most of tenants has been long-term. It also has private parking area on Calle Principal Street. Many more potential for a development opportunity on Calle Principal Street part, Call detail on City of Monterey and Monterey Water Management.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£191,632
|
£19.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£3,638
|
£0.37
|
| Effective Gross Income |
£187,993
|
£19.13
|
| Taxes |
£23,063
|
£2.35
|
| Operating Expenses |
£52,959
|
£5.39
|
| Total Expenses |
£76,023
|
£7.74
|
| Net Operating Income |
£111,971
|
£11.39
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £191,632 |
| Annual Per SF | £19.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £3,638 |
| Annual Per SF | £0.37 |
| Effective Gross Income | |
|---|---|
| Annual | £187,993 |
| Annual Per SF | £19.13 |
| Taxes | |
|---|---|
| Annual | £23,063 |
| Annual Per SF | £2.35 |
| Operating Expenses | |
|---|---|
| Annual | £52,959 |
| Annual Per SF | £5.39 |
| Total Expenses | |
|---|---|
| Annual | £76,023 |
| Annual Per SF | £7.74 |
| Net Operating Income | |
|---|---|
| Annual | £111,971 |
| Annual Per SF | £11.39 |
PROPERTY FACTS In Escrow
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,828 SF
Building Class
C
Year Built
1941
Price
£2,306,347
Price Per SF
£235
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.78
Lot Size
0.29 AC
Zoning
C-2 - Retail and Executive Office, may convert upstairs an apartments or condo's. This property has plenty of water.
Parking
7 Spaces (0.71 Spaces per 1,000 SF Leased)
Frontage
54 ft on Alvarado St
AMENITIES
- Bus Route
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 001-572-003-000 | Total Assessment | £1,273,138 (2024) |
| Land Assessment | £538,634 (2024) | Annual Taxes | £23,063 (£2.35/sf) |
| Improvements Assessment | £734,505 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
001-572-003-000
Land Assessment
£538,634 (2024)
Improvements Assessment
£734,505 (2024)
Total Assessment
£1,273,138 (2024)
Annual Taxes
£23,063 (£2.35/sf)
Tax Year
2023
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482 Alvarado St
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