222 Grand Ave Pacific Grove, CA 93950

This exceptional mixed-use property at 222 Grand Avenue in Pacific Grove, California, presents a unique investment opportunity. The 4,046 square foot building, constructed in 1937, boasts a rich history as the former Pacific Grove Cleaners. This two-story structure features a ground floor storefront and a second-story apartment, offering versatility for owner-occupancy or rental income generation. The property sits on a 3,600 square foot lot and is classified as Class C. The asking price is $899,000, translating to $222.19 per square foot. A pro-forma NOI of $61,500 projects a 6.84% cap rate. The property is being sold "as-is," and a Phase I environmental report from the 1980s is available for review. This presents a chance to acquire a piece of Pacific Grove history with significant potential for renovation and increased value. The property's location in Monterey County, zip code 93950, offers excellent visibility and accessibility. The APN is 006-282-027. This is a rare opportunity for an owner/user to acquire a well-situated mixed-use building in a desirable California coastal town. The net rentable square footage is 4,046 square feet.