407 Calle Principal - Hospitality FOR SALE


Monterey, CA 93940
$17,000,000 USD
916-821-8886
407 Calle Principal, Monterey, CA for Sale
$17,000,000 USD
Hospitality - FOR SALE
1/25
null | Request Cap Rate

407 Calle Principal
Monterey, CA 93940


HIGHLIGHTS

  • Historic Downtown Location
  • New Wing Added in 2016
  • Seven Street-Level Retail Spaces
  • Walking Distance To Major Local Attractions
  • High Barrier To Entry Market

OVERVIEW

The Monterey Hotel, located at 407 Call Principal in Monterey, California, was originally built in 1904 and consisted of 45 rooms. Well located in an excellent position on one of the busiest streets in downtown Monterey, this historic property has undergone additional construction and extensive renovation that was completed in 2016 and included the addition of 24 new rooms. The 39,096 SF boutique hotel is a blend of a historic and new building and sits on 0.41 acres and now features 69 rooms in total. Seven street-level retail spaces provide additional revenue and upside potential. The Monterey Hotel is within walking distance of the Monterey Bay, Fisherman's Wharf and the Monterey Bay Aquarium, as well as the convention center, many fine restaurants, retailers and other amenities.

FOR SALE DETAILS

PRICE

$17,000,000 USD

PRICE/SF

$435 USD /SF

# OF ROOMS

69

PRICE/ROOM

$246,377 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Monterey Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1904

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

VAF

APN/PARCEL ID

001-572-025-000

ASK ABOUT THIS PROPERTY

Rick LahkarSperry - Lahkar CompanyMore Info
916-821-8886

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Rick LahkarSperry - Lahkar CompanyMore Info
916-821-8886

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.