Listed by A.G. Davi Property Management
$6,200,000
439 Alvarado Trophy Property with 7 Year Absolute Net Lease
Details
Property Type Retail
Sub Type Bank, Shopping Center
Square Footage 12,197
Net Rentable (SqFt) 12,197
Units 2
Cap Rate 5.32%
NOI $330,000
Occupancy 100%
Tenancy Multi
Lease Type Absolute NNN
Lease Term 7
Lease Expiration 12/31/2030
Remaining Term 4.6
Price per SqFt $508
Class A
Year Built 1942
Year Renovated 2000
Buildings 1
Stories 3
Acreage 0.280
Zoning Commercial
Lease Commencement 01/01/2024
Occupancy Date 09/24/2024
Ownership LLC
NNN bank building, 2 tenants Corner with Parking- Trophy Property has been a bank fo over 50 years
Marketing description
100% occupied NNN building. Anchor Tenant Mechanics Bank recently extended its Lease for 7 years, Upstairs Tenant is a 5 year also NNN Lease. Landmark pride of Ownership building. Building has been a bank since it was built. Opportunity to add residential and increase income if so inclined. Call Listing agent/Seller for more info Recent appraisal available. Located on Main Street in Monterey surrounded by 1500 Hotel Rooms and only steps Fishermans Wharf and the Beach. Building has an elevator and includes parking lot.
Listing Contacts
Listed by A.G. Davi Property Management
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$330,000.00
$27,500.00/mo
Valuation Metrics
0
DSCR
5.32%
Cap Rate
5.32%
ROI
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