482 Alvarado St
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482 Alvarado St
9,828 SF 100% Leased Retail Building Monterey, CA 93940 $4,185,280 CAD ($425.85 CAD/SF)
INVESTMENT HIGHLIGHTS
- Monterey Down Town!
EXECUTIVE SUMMARY
The subject property located in heart of Monterey Downtown and contains a commercial building with of retail and office spaces. This building has a two major entrances, one on Alvarado & Calle Principal, it also has an elevator and two large bathrooms. Most of tenants has been long-term. It also has private parking area on Calle Principal Street. Many more potential for a development opportunity on Calle Principal Street part, Call detail on City of Monterey and Monterey Water Management.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$347,751
|
$35.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,603
|
$0.67
|
| Effective Gross Income |
$341,148
|
$34.71
|
| Taxes |
$41,853
|
$4.26
|
| Operating Expenses |
$96,104
|
$9.78
|
| Total Expenses |
$137,957
|
$14.04
|
| Net Operating Income |
$203,191
|
$20.67
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $347,751 |
| Annual Per SF | $35.38 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,603 |
| Annual Per SF | $0.67 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $341,148 |
| Annual Per SF | $34.71 |
| Taxes (CAD) | |
|---|---|
| Annual | $41,853 |
| Annual Per SF | $4.26 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $96,104 |
| Annual Per SF | $9.78 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $137,957 |
| Annual Per SF | $14.04 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $203,191 |
| Annual Per SF | $20.67 |
PROPERTY FACTS In Escrow
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,828 SF
Building Class
C
Year Built
1941
Price
$4,185,280 CAD
Price Per SF
$425.85 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.78
Lot Size
0.29 AC
Zoning
C-2 - Retail and Executive Office, may convert upstairs an apartments or condo's. This property has plenty of water.
Parking
7 Spaces (0.71 Spaces per 1,000 SF Leased)
Frontage
54’ on Alvarado St
AMENITIES
- Bus Line
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 001-572-003-000 | Total Assessment | $2,312,179 CAD (2024) |
| Land Assessment | $978,226 CAD (2024) | Annual Taxes | $41,853 CAD ($4.26 CAD/SF) |
| Improvements Assessment | $1,333,953 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
001-572-003-000
Land Assessment
$978,226 CAD (2024)
Improvements Assessment
$1,333,953 CAD (2024)
Total Assessment
$2,312,179 CAD (2024)
Annual Taxes
$41,853 CAD ($4.26 CAD/SF)
Tax Year
2023
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