- For Sale $1,799,000
- Property Type Retail
- Property Size 9,099 SF
- Lot Size 6,800 SF
- Building Class C
- Year Built 1966
- Date Updated May 26, 2026
- Visibility/Traffic Count (VPD) 15,257
Description
Mahoney & Associates is pleased to present to the market 31 Soledad Dr., in Monterey, CA. The property consists of a 2-story building totaling +/- 9,099 SF, with 4 separate units. The building sits on a 6,800 SF lot with great visibility from Soledad Dr., a major road in Monterey that sees 15,257 cars/day and has easy access to Highway 1, 68, and the surrounding communities. Zoning is C-1, allowing for many uses serving the daily needs of nearby residences. Opportunities exist for an owner-user requiring immediate space.
• Desirable frontage, with an estimated 15,257 ADT
• Very central location for access to Salinas, Carmel or Monterey
• 3 established tenants – all with NNN leases
• Available parking
• Opportunity for rental increases over term
• Portion building available for owner-user
ESTIMATED PROPERTY OPERATING INCOME/EXPENSES
Estimated Income
Annual Rental Income (Pro Forma) $123,002.88
Vacancy Factor 3% -$3,690.09
Adjusted Gross Income $119,312.79
Estimated Expenses
Real Estate Taxes (at asking price) -$20,381
Property Insurance -$7,210
Utilities -$10,102
Repairs & Maintenance (3%) -$3,977
Management Fee (5%) -$6,628
Estimated Total Operating Expenses -$48,298
Tenant Reimbursements
Taxes $20,381
Insurance $2,794
Utilities $10,102
Total Tenant Reimbursements $33,277
Estimated Net Operating Income $104,291.79
False
Contacts
Mahoney & Associates
Mahoney & Associates
