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Monterey Hotel 407 Calle Principal 69 Room Hotel Monterey, CA 93940 $15,900,000 ($230,435/Room) 6.55% Cap Rate
EXECUTIVE SUMMARY
The Monterey Hotel, located at 407 Calle Principal in Monterey, California, is a 69-room boutique asset offering a rare opportunity in one of the Central Coast’s most desirable and high barrier- to-entry markets. Originally built in 1904, the property combines historic character with modern updates, including a significant renovation and 24-room expansion completed in 2016. The 39,096 SF hotel spans 0.41 acres and features both a historic and a newer wing. In addition to guestroom revenue, the hotel includes seven street-level retail spaces—three situated below the adjacent Monterey Hotel Apartments (not included in the sale and separately owned) and four located within the hotel’s historic wing. These spaces provide supplemental income and long-term upside.With its irreplaceable location and historic appeal, the property is well positioned for a new owner to increase performance through targeted capital improvements and a potential soft-brand affiliation to further drive occupancy, online visibility, and returns.
PROPERTY FACTS
| Price | $15,900,000 | Lot Size | 0.41 AC |
| Price Per Room | $230,435 | Building Size | 39,036 SF |
| Sale Type | Investment | No. Rooms | 69 |
| Cap Rate | 6.55% | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1904/2016 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B | ||
| Zoning | VAF - Visitor Accommodation Facility | ||
| Price | $15,900,000 |
| Price Per Room | $230,435 |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 39,036 SF |
| No. Rooms | 69 |
| No. Stories | 4 |
| Year Built/Renovated | 1904/2016 |
| Corridor | Interior |
| Zoning | VAF - Visitor Accommodation Facility |
AMENITIES
- Business Center
- Fitness Center
- Spa
- High Speed Internet Access
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 4 | $244.00 | - |
| Guest Room | 65 | $164.00 | - |
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Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 001-572-025-000 | Improvements Assessment | $0 |
| Land Assessment | $436,341 | Total Assessment | $436,341 |
PROPERTY TAXES
Parcel Number
001-572-025-000
Land Assessment
$436,341
Improvements Assessment
$0
Total Assessment
$436,341
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Monterey Hotel | 407 Calle Principal
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