Welcome to the Soho of the Monterey Peninsula, an exceptionally rare investment and development opportunity in the heart of Sand City. Positioned in one of the Peninsula's most dynamic and evolving micro-markets, this property offers significant upside with city-supported potential for a six-story residential development. Preliminary discussions have included two… Read More levels of parking and four levels of residential housing, with flexibility for a blend of market-rate and affordable units. Sand City has expressed openness to creative site planning, including potential use of and acquisition of adjacent portions of the bordering dead-end streets to enhance access and circulation. Upper level units above the third floor are anticipated to capture some of the most compelling views in the area. The existing improvements include a multi-tenant commercial structure featuring five office suites, six upper-level storage units, four ground-level garage bays (one with accessory office space) and two additional storage units. Most spaces are currently leased on a month to month basis providing immediate income. This is an exceptional opportunity to reimagine and capitalize on one of the Monterey Peninsula's most promising urban corridors. Read Less
Courtesy of Douglas Elliman of California, Inc., Kathleen McCrystal 831-915-6879
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Square Ft.
7,632
Lot Size
0.19 Acres
Year Built
1988
MLS Number
ML82044355
30 Days Snapshot Of 93955
$987k
+11%
(avg) sold price
7
-46%
homes sold
16
-77%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 8250.00, Max Area Units: Square Feet
Building
Built in 1988, 7,632 square feet, 7,632 living square feet
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