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Multi-Parcel Commercial Opportunity 498 Fremont St 40,720 SF Retail Building Monterey, CA 93940 $11,490,000 ($282.17/SF)
Investment Highlights
- Prime multi-parcel assemblage totaling six closely related parcels in central Monterey
- Longstanding automotive use with proven history as a successful dealership location since 1950’s
- Flexible configuration suitable for owner-users, investors, or redevelopment
- Strategically located at the signalized intersection of Fremont Street and Abrego Street
- Established site identity for vehicle sales, service, and related commercial uses
- Non-historic
Executive Summary
Located at the intersection of Fremont Street and Abrego Street, this offering represents a rare opportunity to acquire a signature multi-parcel assemblage at one of Monterey’s most active commercial corners. The package includes 400, 498, and 512 Fremont Street, along with 40 Boronda Lane and 518 Perry Lane, collectively occupying a central position in the city’s primary north–south and east–west corridors.
This location has long been associated with a prominent auto dealer, which has operated along Fremont Street since 1957. The dealership is widely regarded as one of the earliest auto franchises in the United States and has been a defining presence in Monterey for generations. This has long been considered a landmark Monterey property.
This long-standing automotive use reinforces the site’s identity as a proven, functional location for vehicle sales, service, and related commercial activity. The continued success of an auto dealership at this intersection for nearly seven decades speaks to the strength of the visibility, access, and traffic fundamentals that remain in place today.
This location has long been associated with a prominent auto dealer, which has operated along Fremont Street since 1957. The dealership is widely regarded as one of the earliest auto franchises in the United States and has been a defining presence in Monterey for generations. This has long been considered a landmark Monterey property.
This long-standing automotive use reinforces the site’s identity as a proven, functional location for vehicle sales, service, and related commercial activity. The continued success of an auto dealership at this intersection for nearly seven decades speaks to the strength of the visibility, access, and traffic fundamentals that remain in place today.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
40,720 SF
Building Class
C
Year Built
1945
Price
$11,490,000
Price Per SF
$282.17
Tenancy
Single
Building Height
2 Stories
Building FAR
1.34
Lot Size
0.70 AC
Zoning
C-2, R-1 - C-2 (General Commercial)
R-1 (Single-Family Residential)
Parking
45 Spaces (1.11 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Signalized Intersection
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,508,107 | |
| Land Assessment | $1,161,291 | Total Assessment | $2,669,398 |
Property Taxes
Parcel Numbers
Land Assessment
$1,161,291
Improvements Assessment
$1,508,107
Total Assessment
$2,669,398
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Multi-Parcel Commercial Opportunity | 498 Fremont St
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