601 Lighthouse AvePacific Grove, CA 93950

Property Details for 601 Lighthouse Ave

Year built

1960

Construction

TILT-UP CONCRETE

Lot size

0.31 AC

Property size (Sq ft)

5,116 SF

Property type

Retail properties

Property subtype

Banks

APN

006-294-015-000

APU

6294015000

Description

This exceptional 6,000 square foot retail space presents a singular opportunity on Pacific Grove's coveted Lighthouse Avenue. For the first time in sixty years, this meticulously constructed former bank building is available for lease. Boasting a highly visible corner location, the property features a rare and convenient on-site parking lot with 13-16 spaces, a significant advantage in this desirable area. The building's robust design includes a minimum 14-foot ceiling height, a vintage vault door, and a flexible indoor/outdoor design, allowing for a variety of uses. The ample space is ideal for a single flagship tenant or a multi-tenant configuration. Excellent signage opportunities further enhance its visibility. Located just three blocks from the Pacific coastline and Lovers Point, this property offers unparalleled access to the vibrant Pacific Grove community and its many amenities. This is a unique chance to establish a presence on one of Pacific Grove's most trafficked streets. The building's architectural details and prime location combine to create an exceptional opportunity for a discerning business.

• CAP approach

  CAP return

  Valuation

  6%

  $2,252,090

  6.5%

  $2,078,852

  7%

  $1,930,363

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,595,797

  Geo Method

  $3,595,797

• Alternative Use

  Use

  Valuation

  Residential

  $1,753,590

  Hospitality

  $1,606,279

  Educational

  $1,336,405

  Medical

  $1,382,366

  Retail

  $2,078,852

Location Insight

City

Pacific Grove

County

Monterey

State

California

Latitude

36.6212

Longitude

-121.919

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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