Description
First time on the market in 20 years, rarely available, investment/exchange opportunity located in the increasingly popular Carmel Valley Village. Close to local wineries, restaurants, and shopping, this 4800 SF parcel features 8200 SF of rentable space including 3 retail stores on the main level. Upper level is spacious, great natural light with 6 skylights and a balcony, upstairs is currently rented out as multiple offices with a common area. Long term tenants, some have been there 18+ years and all the leases are now MTM, which allows a buyer to negotiate increased rents. Dry cleaner uses non-toxic materials and disposes of waste in the upmost environmentally friendly way. 3 separate electric meters downstairs retail spaces and 2 electric meters dividing upstairs. Part of the Carmel Valley Village Center which is a focal point of commerce and activity with ample parking. CAP rate of just over 4% is based on the "projected market rents" as the existing rents are below market.
-
0BEDS
-
0.11ACRES
-
0BATHS
-
01/2 BATHS
-
8,220SQFT
-
$425$/SQFT
School Ratings & Info
Description
First time on the market in 20 years, rarely available, investment/exchange opportunity located in the increasingly popular Carmel Valley Village. Close to local wineries, restaurants, and shopping, this 4800 SF parcel features 8200 SF of rentable space including 3 retail stores on the main level. Upper level is spacious, great natural light with 6 skylights and a balcony, upstairs is currently rented out as multiple offices with a common area. Long term tenants, some have been there 18+ years and all the leases are now MTM, which allows a buyer to negotiate increased rents. Dry cleaner uses non-toxic materials and disposes of waste in the upmost environmentally friendly way. 3 separate electric meters downstairs retail spaces and 2 electric meters dividing upstairs. Part of the Carmel Valley Village Center which is a focal point of commerce and activity with ample parking. CAP rate of just over 4% is based on the "projected market rents" as the existing rents are below market.
Bay East ©2023. CCAR ©2023. bridgeMLS ©2023. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2023-06-05T13:36:56.157.
Listing courtesy of Monterey Peninsula Home Team of Kw Coastal Estates: [IDXCONTACTINFORMATION].