447 Figueroa St, Monterey, CA 93940 For Sale

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 NNN basis to Harmony Place Monterey. Showing a commitment to the property, the Tenant recently executed a lease extension. As such, this offering is a single-tenant net-leased opportunity.

Through its Harmony Place Monterey program, BACA occupies the property at 447 Figueroa Street in Monterey. BACA is a respected nonprofit organization focused on providing behavioral health, housing, and supportive services throughout California. Harmony Place Monterey operates as a community-based facility dedicated to helping individuals achieve long-term stability through compassionate care, recovery support, and structured programming.

The property is secured by an absolute NNN lease, offering investors a passive ownership opportunity with minimal landlord responsibilities. The current monthly base rent is $5,700 ($68,400 annually), with scheduled 3% annual rent increases each June 1st, providing steady income growth over the lease term. The lease extends through December 31, 2029, offering stable cash flow backed by an established nonprofit tenant.