439 Alvarado StMonterey, CA 93940

Property Details for 439 Alvarado St

Year built

1942

Construction

TILT-UP CONCRETE

Lot size

0.28 AC

Property size (Sq ft)

9,004 SF

Property type

Retail properties

Property subtype

Banks

APN

001-573-012-000

APU

1573012000

Description

This exceptional commercial property, located at 439 Alvarado in Monterey, California, presents a compelling investment opportunity. The 11,111 square foot building sits on a 0.28-acre lot and is currently generating strong income streams from two established tenants. The anchor tenant, a bank, is secured by a 7-year triple net (NNN) lease, providing long-term stability and predictable cash flow. Adding to the property's value, the second-floor tenant is operating under a newly signed 4-year triple net (NNN) lease, further solidifying the investment's potential. This prime Monterey location offers excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable, high-yield commercial property. The building's size and layout provide flexibility for future tenants, should the need arise. The current lease agreements minimize landlord responsibilities, making this a low-maintenance investment with significant upside potential. This is a rare opportunity to acquire a well-leased commercial property in a desirable Monterey location. The asking price of $5,600,000 reflects the property's strong tenant occupancy, favorable lease terms, and prime location. Serious inquiries are encouraged.

Location Insight

City

Monterey

County

Monterey

State

California

Latitude

36.5991

Longitude

-121.894

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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