INDUSTRIAL/RETAIL/DEVELOPMENT PROPERTY FOR SALE OFFERED AT: $1,395,000 1299 Del Monte Avenue, Monterey, CA 93940 Presented by: JAMES KENDALL RYAN EDWARDS ALISON GOSS 831.275.0129 jkendall@mahoneycommercial.com CalDRE #02010395 831.646.1919 x111 redwards@mahoneycommercial.com CalDRE #01403313 831.655.9205 aligoss@gmail.com CalDRE #01815323 MAHONEY & ASSOCIATES 501 Abrego Street Monterey, CA 93940 831.646.1919 mahoneycommercial.com
EXECUTIVE SUMMARY OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $1,395,000 CurrentCap Rate: 4.9% NOI: $68,400 APN: 001-810-003 Year Built: 1961 Building Size: +/-4,308 Zoning: Price / SF: PC-W $348 Building / $83 Land JAMES KENDALL 831.275.0129 jkendall@mahoneycommercial.com CalDRE #02010395 Mahoney & Associates is pleased to offer for sale 1299 Del Monte Avenue in Monterey, California. The offering consists of +/-4,308 SF of industrial/retail building which sits on a +/-18,014 SF lot with 6 bay doors and a small attached retail/office (which contains the site's only restroom), as well as a detached showroom and 17 parking spaces. Originally built in 1961 for an automotive dealership, this property is at the intersection of Sloat Avenue and Del Monte Avenue, which is the city s main arterial between Monterey and Seaside. The property enjoys high visibility with traffic counts of approx. 37,000 VPD, making it an ideal location for a business / industrial space. The site is located within the City of Monterey's Waterfront Master Plan. LOCATION OVERVIEW Monterey is a scenic California coastal city that rises from the pristine Monterey Bay to pine forested hillsides with sweeping bay views. The city s natural beauty and historic sites make it a quality residential community and premier tourist destination. A small, livable city that prides itself on being a clean and safe place to live, Monterey is known for its sense of community and hospitality and its culturally diverse residents. Monterey is located at the center of a Monterey Bay regional economy which is poised for growth. Monterey is one of the premier tourist destinations in the United States. Each year, the area attracts an estimated 4 million visitors. The area s diverse attractions, dramatic coastline, historic architecture, and access to marine wildlife all combine to drive this economic component. From the Monterey Bay Aquarium along Cannery Row, to the world-renowned Pebble Beach Golf Course nearby, Monterey continues to be a destination for visitors, which helps sustain the area s economy for its residents. RYAN EDWARDS 831.646.1919 x111 redwards@mahoneycommercial.com CalDRE #01403313 ALISON GOSS 831.655.9205 aligoss@gmail.com CalDRE #01815323 Page 2
PROPERTY DETAILS SALE PRICE $1,395,000 PROPERTY DETAILS LOCATION INFORMATION Building Name Peninsula Tire & Burlwood Industries Street Address 1299 Del Monte Avenue City, State, Zip Monterey, CA 93940 County Monterey Cross Streets Sloat Avenue Property Type Industrial Property Subtype Retail/Office Zoning PC-W (Waterfront Master Plan) Lot Size +/- 18,014 SF APN# 001-810-003 BUILDING INFORMATION Building Size +/- 4,308 SF Tenancy Multiple Year Built 1961 Load Factor Yes Free Standing No Walls Stucco over Wood Frame, Concrete Block Roof Tar & Gravel, Composition Shingle Roof Age 20+ Years HVAC 1 Wall Mounted Industrial Heater in Showroom Page 3
FINANCIAL SUMMARY INVESTMENT OVERVIEW Price $1,395,000 Price per SF (Improvements) $348 Price per SF (Land) $83 CAP Rate 4.5% OPERATING DATA Net Operating Income $68,400 EXPENSES Property Taxes (Actual) $2,663 Property Taxes (New, est.) $16,500 Insurance $2,364 Page 4
RENT ROLL RENT & TERMS RENT PER MONTH LEASE TYPE TERM Peninsula Tire Service, Inc $3,500 NN (taxes, insurance) Month to Month - Tire repair and replacement, suspension alignment and adjustment brake repair Burlwood Industries $2,200 NN (taxes, insurance) Month to Month* - Retail distribution of hand-made arts and crafts items. *Vacating September '18 Total $5,700 Page 5
ADDITIONAL PHOTOS JAMES KENDALL 831.275.0129 jkendall@mahoneycommercial.com CalDRE #02010395 RYAN EDWARDS 831.646.1919 x111 redwards@mahoneycommercial.com CalDRE #01403313 ALISON GOSS 831.655.9205 aligoss@gmail.com CalDRE #01815323 Page 6
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LOCATION MAPS Page 8
DEMOGRAPHICS MAP POPULATION 1 MILE 3 MILES 5 MILES Total population 4,718 52,853 96,524 Median age 39.9 38.6 41.8 Median age (Male) 37.8 37.8 40.3 Median age (Female) 42.2 39.0 42.6 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 2,408 20,945 38,933 # of persons per HH 2.0 2.5 2.5 Average HH income $72,701 $75,591 $87,531 Average house value $879,000 $607,972 $820,074 * Demographic data derived from 2010 US Census Page 9
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