This mixed-use owner/user or investment opportunity has an approximately 5,550 SF two-story retail/office building and an approximately 1,600 SF two-story duplex (1br/1ba each) situated on +/- 9,720 SF of land with two APNs. The Seller has worked with the City of Monterey and the Monterey Peninsula Water Management District and received Planning and Building Dept. approval to convert the (currently vacant) 2nd floor of the front building into three residential units (two 2br/1ba, one 1br/1ba). The building plans are finished, but the permit has not yet been pulled. The zoning of the Lighthouse Area Specific Plan aims to create a livable community (comprised of mixed-use properties) and a revitalized destination point on Lighthouse Avenue for residents and visitors. Both commercial tenants have occupied the property for many years and have multiple years left on their leases. The ground floor of the duplex is used as storage by one of the commercial tenants and the upstairs unit of the duplex is rented at $1750 M-M.
MLS #
ML81954010
MLS Source
MLSListings, Inc.
Days on Site
76
Buyer's Brokerage Compensation*
2.50%
# Buildings / # Units
2 / 5
Parking Spaces
9
Present Use
Retail
Utilities
Public Utilities, Water - Public
Flooring
Carpet, Concrete, Vinyl/Linoleum
Cooling
None
Heating
Wall Furnace
Roof
Shingle, Bitumen
Foundation
Slab
Sewer
Public Sewer
Water
Public
Zoning
Commercial/Mixed-use - Li
# Buildings | # Leased Units | # Total Units |
---|---|---|
2 | – | 5 |
761-767 Lighthouse Ave is a Commercial Sale in Monterey, CA 93940. This 7,150 square foot property sits on a 9,720 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,250,000 and was built in 1970.
This address can also be written as 761-767 Lighthouse Ave, Monterey, CA 93940.©2024 MLSListings Inc. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from MLSListings Inc.
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This listing information is up-to-date as of February 12, 2024. For the most current information, please contact James Kendall, (831) 275-0129