2150 Elkhorn RdCastroville, CA 95012

Property Details for 2150 Elkhorn Rd

Lot size

9.70 AC

Property size (Sq ft)

132,966 SF

Property type

Retail properties

APN

131-073-028-000

APU

131073028000

Description

Exceptional investment opportunity: 9.8 acres of prime Monterey County farmland in Castroville (95012), featuring over 127,968 square feet of greenhouse space, including six separate buildings. This property boasts a mix of steel-frame and renovated wood-framed greenhouses, along with dedicated packing and propagation buildings, and a warehouse shop. The existing structures comprise approximately 63,504 square feet, 36,304 square feet, 26,160 square feet, 7,900 square feet, 3,360 square feet, and 2,999 square feet respectively. The land also includes approximately 3.6 acres of open farmland. The property benefits from a well-irrigation system, PG&E natural gas service, computerized vent controls, and an engineered retention basin. A single-wide mobile home with septic is also on the site. Zoned for residential, land, and agricultural use, this versatile property presents significant potential for expansion and diverse agricultural applications. The seller is seeking a 1031 exchange. APN: 131-073-028-000. Asking price: $3,400,000 ($26.57/sq ft).

• CAP approach

  CAP return

  Valuation

  6%

  $44,219,300

  6.5%

  $40,817,800

  7%

  $37,902,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $38,569,000

  Geo Method

  $38,569,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $78,109,600

  Mixed-Use / Specialty

  $41,274,100

  Hospitality / Lodging

  $31,065,000

  Office

  $41,655,700

  Institutional / Educational

  $43,123,500

  Residential Income

  $50,454,500

  Multifamily

  $57,176,300

  Automotive / Energy

  $36,963,000

  Parking / Income-Based Land

  $12,160,900

  Restaurant / Food Service

  $22,751,200

  Healthcare / Senior Housing

  $41,708,700

Location Insight

City

Castroville

County

Monterey

State

California

Latitude

36.8006

Longitude

-121.723

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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