26535 Carmel Rancho BlvdCarmel-by-the-Sea, CA 93923

Property Details for 26535 Carmel Rancho Blvd

Year built

1977

Construction

WOOD

Property size (Sq ft)

1,024 SF

Property type

Office buildings

APN

015-012-032-000

APU

15012032000

Description

This Class A, two-story medical office building in Carmel-by-the-Sea, California, offers two available suites totaling 2,900 square feet within a 15,000 square foot building. Located at 26535 Carmel Rancho Blvd (near Rio Rd), the suites feature 10-foot ceilings and range from 1,240 to 1,614 contiguous square feet, with a minimum divisible space of 1,240 square feet. Previously used as medical/dental/orthopedic space, the suites are finished with reception areas, private offices, in-suite restrooms, a lab room, a work bay, and a large open area. The property is zoned for Commercial Medical use and benefits from a large off-street parking lot. The building enjoys a desirable location near the Barnyard and Crossroads Shopping Centers, surrounded by a variety of medical and professional offices, including dentists, fitness centers, insurance agencies, salons, spas, chiropractors, and skincare businesses. Tenant improvements may be negotiated. The lease is a NNN lease with a base rent of $1.50 per square foot and an additional $0.50 per square foot for NNN expenses. The property is in Monterey County, CA, zip code 93923.

• CAP approach

  CAP return

  Valuation

  6%

  $306,646

  6.5%

  $283,058

  7%

  $262,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $285,604

  Geo Method

  $285,604

• Alternative Use

  Use

  Valuation

  Residential

  $350,992

  Hospitality

  $321,507

  Educational

  $267,490

  Medical

  $276,689

  Retail

  $416,096

Location Insight

City

Carmel

County

Monterey

State

California

Latitude

36.5387

Longitude

-121.904

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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