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511 Forest Lodge Rd 21,469 SF 100% Leased Office Building Pacific Grove, CA 93950 $6,500,000 ($302.76/SF) 6.66% Cap Rate
INVESTMENT HIGHLIGHTS
- Sale Price: $6,500,000
- Amenities include: Private parking, Elevator served, Street frontage, Retail located next door
- Potential for early lease termination discussions for a buyer’s need to occupy or develop property
EXECUTIVE SUMMARY
Office User/Investment, Residential Conversion or Commercial Opportunity!
• ± 21,469 SF Freestanding Building (Rentable)
• ± 2.22 Acres (± 96,703 SF)
• APN: 007-102-019
• Fire Sprinklered
• Updated Restrooms
• Elevator Served
• Built in 1986
• Zoning: C-FH: Forest Hill Commercial allows Residential, Commercial, Office and Retail
• Currently 96% Leased
• Annual Net Income: $433,000
• Two small tenants are month to month
• Primary Tenant is California American Water
- Occupy 90% ±18,847 SF
- Lease expires 12/31/2027
- 2% Annual Increases
- Potential for early lease termination discussions for a buyer’s need to occupy or develop
• ± 21,469 SF Freestanding Building (Rentable)
• ± 2.22 Acres (± 96,703 SF)
• APN: 007-102-019
• Fire Sprinklered
• Updated Restrooms
• Elevator Served
• Built in 1986
• Zoning: C-FH: Forest Hill Commercial allows Residential, Commercial, Office and Retail
• Currently 96% Leased
• Annual Net Income: $433,000
• Two small tenants are month to month
• Primary Tenant is California American Water
- Occupy 90% ±18,847 SF
- Lease expires 12/31/2027
- 2% Annual Increases
- Potential for early lease termination discussions for a buyer’s need to occupy or develop
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
21,469 SF
Building Class
B
Year Built
1986
Price
$6,500,000
Price Per SF
$302.76
Cap Rate
6.66%
NOI
$433,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,734 SF
Building FAR
0.22
Lot Size
2.22 AC
Zoning
C-FH - Forest Hill Commercial allows Residential, Commercial, Office and Retail
Parking
94 Spaces (4 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 007-102-019-000 | Improvements Assessment | $3,827,889 |
| Land Assessment | $1,802,770 | Total Assessment | $5,630,659 |
PROPERTY TAXES
Parcel Number
007-102-019-000
Land Assessment
$1,802,770
Improvements Assessment
$3,827,889
Total Assessment
$5,630,659
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511 Forest Lodge Rd
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