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883 Lighthouse Ave 2,500 SF 100% Leased Retail Building Monterey, CA 93940 $1,500,000 ($600/SF) 4.69% Cap Rate
Executive Summary
Very unique opportunity to own a freestanding mixed-use property in the heart of Monterey. This charming 1930s-era building features a ground-level commercial component with a retail storefront and hair salon, along with two residential apartments. Above the main building is a spacious two-bedroom, one-bath apartment, while the rear of the property offers a large, detached one-bedroom, one-bath apartment, providing excellent flexibility for owner-users or investors. Owned by the current seller since the 1990s, the property reflects decades of pride of ownership and character. Ideally located just a couple of blocks from the Monterey Bay Aquarium, adjacent to Starbucks, and within the heart of the revitalized Lighthouse Avenue business district, this is a rare chance to own a true piece of Monterey.
Co-listed with Debra Buonaguidi, DRE# 01905625 (831) 917-1979
Co-listed with Debra Buonaguidi, DRE# 01905625 (831) 917-1979
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,500 SF
Building Class
C
Year Built
1966
Price
$1,500,000
Price Per SF
$600
Cap Rate
4.69%
NOI
$70,350
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.51
Lot Size
0.11 AC
Zoning
C - Commercial, Lighthouse District
Frontage
58’ on Lighthouse Avenue
Amenities
- Signage
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (72)
Nearby Major Retailers
Property Taxes
| Parcel Number | 001-074-002-000 | Improvements Assessment | $130,328 |
| Land Assessment | $306,355 | Total Assessment | $436,683 |
Property Taxes
Parcel Number
001-074-002-000
Land Assessment
$306,355
Improvements Assessment
$130,328
Total Assessment
$436,683
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883 Lighthouse Ave
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