Investment Property: Five Corners Bldg, 880 Abrego & 862 Munras, Monterey
| Sold | |
|---|---|
| Asking Price: | $1,654,060 |
| Property Type: | Investment Property |
| APN: | 001-682-001/001-681-048 |
| Address: | 880 Abrego Street, Monterey |
| Location: | Munras and Abrego Street |
| Project Description: | Mixed-Use: Retail/Office |
| Land Area: | 14,000 (+/-) SF |
| Bldg Area: | 7,698 (+/-) Net SF |
| Zoning: | C-2 |
| Cap Rate: | 7.1% |
| Comments: | Highly Desirable Investment Property Two Story wood-frame structure built in 1952 First Floor: Six Spaces of Retail and Office Users from 456SF to 1,288SF Second Floor: Single Tenant Office User of 3,944SF. Remodeled in 2005. Most Tenants have been long-term On-Site Parking - 28 dedicated parking spaces Financial Summary: Actual Occupany: 92% Pro-Forma Gross Inc $162,898 NOI $130,122 Adjusted for inc in prop tax Cap Rate 7.1% GRM 10.9 Second Floor Office Features:
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