761767 Lighthouse Avenue, Monterey

$2,250,000

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0 Bed
0 Bath
.22 Acre
0 Garage

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.

Essential Information

MLS® #
ML81954010
Price
$2,250,000
Bathrooms
0.00
Acres
0.22
Year Built
1970
Type
Commercial Sale
Status
Active

Community Information

Address
761767 Lighthouse Avenue
Area
699 - Not Defined
City
Monterey
County
Monterey
Zip Code
93940
Senior Community
N

Amenities

Parking Spaces
9

Interior

Heating
Wall Furnace
Cooling
None
# of Stories
2

Exterior

Roof
Bitumen, Shingle

Additional Information

Date Listed
February 12th, 2024
Days on Market
85
Zoning
Commercial/Mixed-use - Li

Listing Details

Agent
James Kendall
Office
Baird Partnership, Inc.

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
James Kendall - Baird Partnership, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of May 7th, 2024 at 12:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.