439 Alvarado St - Bank FOR SALE


Monterey, CA 93940
$5,600,000 USD
831-601-3284
439 Alvarado St, Monterey, CA for Sale
$5,600,000 USD
Bank - FOR SALE
1/20
null | 6.1% Cap Rate

439 Alvarado St
Monterey, CA 93940


HIGHLIGHTS

  • Trophy Corner Building w Parking Lot
  • 7 year absolute NNN Lease
  • Legacy Property
  • 6 Cap plus opportunity for increases, Great for an exchange
  • Known and Active Bank location for over 50 years
  • Professionally Managed, Seller will consider all or partial sale.

OVERVIEW

100% occupied NNN building. Anchor Tenant Mechanics Bank recently extended its Lease for 7 years, Upstairs Tenant is a 5 year also NNN Lease. Landmark pride of Ownership building. Building has been a bank since it was built. Opportunity to add residential and increase income if so inclined. Call Listing agent/Seller for more info Recent appraisal available. Located on Main Street in Monterey surrounded by 1500 Hotel Rooms and only steps Fishermans Wharf and the Beach. Building has an elevator and includes parking lot.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$680 USD /SF

CAP RATE

6.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Occupied NNN building -Downtown w Parkin

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1942

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

-

APN/PARCEL ID

001-573-012-000

ASK ABOUT THIS PROPERTY

Anthony DaviA.G. Davi Property ManagementMore Info
831-601-3284

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Anthony DaviA.G. Davi Property ManagementMore Info
831-601-3284

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