660 Camino AguajitoMonterey, CA 93940

Property Details for 660 Camino Aguajito

Year built

1969

Construction

TILT-UP CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

1,791 SF

Property type

Office properties

Property subtype

Office buildings

APN

001-846-012-000

APU

1846012000

Description

This 9,406 square foot industrial building in Monterey, CA, sits on a 0.29-acre lot at 660 Camino Aguajito. Currently operating as a multi-tenant office building, it offers significant income potential with long-term leases in place on the first two floors. The third floor, approximately 3,600 square feet, is available for lease or owner-occupancy. Boasting 28 rooms and 6 full bathrooms, along with kitchen areas, this property provides exceptional flexibility. Large covered parking is available for employees and clients. Enjoy stunning views of Lake El Estero and convenient access to downtown Monterey and major freeways. Both the second and third floors feature private decks and floor-to-ceiling windows, creating a bright and inviting atmosphere. A complete solar power system eliminates electricity costs, offering significant savings and environmental benefits. The property is zoned R-3-6-AP, allowing for potential residential conversion of the third floor. This presents a unique opportunity for an owner-user or investor seeking a strong cap rate and a history of solid income generation. This is a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $536,332

  6.5%

  $495,075

  7%

  $459,713

• Comparable approach

  Method

  Valuation

  Relative Method

  $499,528

  Geo Method

  $499,528

• Alternative Use

  Use

  Valuation

  Residential

  $613,894

  Hospitality

  $562,323

  Educational

  $467,846

  Medical

  $483,936

  Retail

  $727,761

Location Insight

City

Monterey

County

Monterey

State

California

Latitude

36.595

Longitude

-121.882

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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