Site Details
Monterey's Finest Office and R&D complex
Built circa 1998
Approximately 1.85 acres and 104,000 sf
3 buildings on a 4 building site
2 single-story industrial flex buildings
1 two-story office building
Zoned 1-R/Industrial Research and Admin
Highway 68 between Monterey and Salinas (less than 3 miles to MRA)
Exceptionally well maintained
Upgraded common areas and landscaping
Ample parking (+/- 4/1000 sf)
Current occupancy: 90%
Owners association maintains common areas
Building 4 separately owned and not a part of sale
Building Details
Building 1
APN 259-071-001
(+/- 51,044 sf)
Two story office
80% occupancy
Multi tenant
Modified gross and full-service leases
Current 2019 average rate $2.40 psf
Building 2
APN 259-071-002
(+/- 28,020 sf)
Single story office/flex/R&D
100% occupancy
Single tenant
Modified gross lease
Current 2019 rate $2.18 psf
Building 3
APN 259-071-004
(+/- 24,052 sf)
Single story office/flex/R&D
100% occupancy
Multi-tenant
Modified gross leases
Current 2019 average rate $1.79
Financial Snapshot
For more detailed information, please contact our office for an NDA
2017
Rental Income: $2,840,150
Operating Expenses: $930,505
Net Operating Income: $1,909,645
2018
Rental Income: $2,147,133
Operating Expenses: $822,744
Net Operating Income: $1,324,398
2019 estimate
Rental Income: $2,303,238
Operating Expenses: $850,961
Net Operating Income: $1,452,277
Summary of Tenant Leases
For more detailed information, please contact our office for an NDA
Building 1
Secured Mobility: 2,126 SF
State of CA: 3,093 SF
Cushman Wakefield: 1,954 SF
Shop.com: 10,984 SF
vacant (1): 5,330 SF
vacant (2): 27,557 SF
Building 2
Language Line: 28,020 SF
Building 3
Monterey Pen Found: 6,759 SF
Apria Health: 7,981 SF
First Alarm: 4,937 SF
Brandvia: 4,375 SF