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447 Figueroa St 1,980 SF Retail Building Monterey, CA 93940 $1,100,000 ($555.56/SF) 6.22% Cap Rate
Investment Highlights
- Single-Tenant Net Leased Investment In The Heart Of Monterey And Block To The Beach
- Renovated Building With AC, Skylights, Custom Kitchen, Roll-Up Door
- Recent Lease Extension
Executive Summary
Mahoney & Associates is pleased to present to the market the
opportunity to purchase 447 Figueroa in downtown Monterey.
Just a block from the beach and Fisherman’s Wharf, this
completely renovated building is currently leased on a long-term
NN basis to Harmony Place Monterey. Showing commitment
to the property, the Tenant recently executed a lease extension with a new lease expiration date of 12/31/2029.
As such, this offering is a single-tenant net-leased opportunity.
opportunity to purchase 447 Figueroa in downtown Monterey.
Just a block from the beach and Fisherman’s Wharf, this
completely renovated building is currently leased on a long-term
NN basis to Harmony Place Monterey. Showing commitment
to the property, the Tenant recently executed a lease extension with a new lease expiration date of 12/31/2029.
As such, this offering is a single-tenant net-leased opportunity.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,980 SF
Building Class
C
Year Built/Renovated
1940/2014
Price
$1,100,000
Price Per SF
$555.56
Cap Rate
6.22%
NOI
$68,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.60
Lot Size
0.08 AC
Zoning
Planned Community
Parking
4 Spaces (2.02 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Harmony Place Monterey
- Services
- 1,980 SF
- $34.55
- Double Net
- Dec 2029
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Harmony Place Monterey | Services | 1,980 SF | $34.55 | Double Net | Dec 2029 |
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 001-712-013-000 | Improvements Assessment | $168,254 |
| Land Assessment | $300,457 | Total Assessment | $468,711 |
Property Taxes
Parcel Number
001-712-013-000
Land Assessment
$300,457
Improvements Assessment
$168,254
Total Assessment
$468,711
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447 Figueroa St
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