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650 E Franklin St

Monterey, CA 93940
  • $1,299,000
  • STATUS: Pending
  • ON SITE: 41 Days
  • ID#: ML81867673
Pending
UPDATED: 43 min ago
$1,299,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,132
    SQFT
  • $1,148
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1943
County:

School Ratings & Info

Description

Owner Financing available for Commercial Listing or High Density Multi-Family in Monterey. Located close to Downtown Monterey, Fishermans Wharf, and many more desirable amenities, this site offers almost 1/3 acre of flat usable space with a 1,132sf building, currently occupied by a garden center. Tenant is month to month, but willing to stay. Rents are below market. 3.7% Cap Rate at current rents. Upside opportunity for investor or developer. Prime Monterey location. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Terms 30% down, 4% interest only, amortized over 25 years due in 20. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.

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© 2021 MLSListings Inc. Based on information from MLSListings MLS as of 2021-12-02T07:48:37.54. 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. DX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Real Estate Services.

Licensed in the State of California.
www.greaterbayarearealestate.com/homes/122651779
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650 E Franklin St Monterey, CA 93940

  • Price: $1,299,000
  • Status: Pending
  • On Site: 41 Days
  • Updated: 43 min ago
  • ID#: ML81867673
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,132
SQFT
$1,148
$/SQFT
1943
Built
Neighborhood:
Downtown/Fisherman Wharf
County:
Monterey
Area:
Downtown/Fisherman Wharf
Property Description
Owner Financing available for Commercial Listing or High Density Multi-Family in Monterey. Located close to Downtown Monterey, Fishermans Wharf, and many more desirable amenities, this site offers almost 1/3 acre of flat usable space with a 1,132sf building, currently occupied by a garden center. Tenant is month to month, but willing to stay. Rents are below market. 3.7% Cap Rate at current rents. Upside opportunity for investor or developer. Prime Monterey location. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Terms 30% down, 4% interest only, amortized over 25 years due in 20. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.
Exterior Features

Foundation Concrete Slab Garage Parking Other Roof Composition Sq Ft Yard 14300

Interior Features

Cooling None Heating Forced Air Sq Ft Warehouse 0 Structure Sq Ft 1125

Property Features

Accessibility Features None Additional Listing Info Not Applicable Business Name Tope's Sustainable Garden Center City Limits Yes City Name Monterey Facilities OfficeShowroomOther Incorporated Yes Lot Size Area Maximum 14300.00 Meters Separate ElectricSeparate GasSeparate Water Present Use NurseryRetailOther Restrictions None Security Features Security Fence Sewer Septic Sewer - Public Sq Ft Source Assessor Utilities Public Utilities Water Public Zoning Pc-Planned Community

© 2021 MLSListings Inc. All rights reserved. Listing provided courtesy of The Ruiz Group of Kw Coastal Estates.


© 2021 MLSListings Inc. Based on information from MLSListings MLS as of 2021-12-02T07:48:37.54. 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. DX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Real Estate Services.

Licensed in the State of California.
 
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