499 Alvarado St
Monterey, CA 93940

$6,125 USD/MO

Freestanding For Lease • 2,150+ SF

Property Details

Property Type Freestanding
Year Built 1951
Total Building Size 7,873 SF
Tenancy Multiple
Building Class C
Zoning Commercial

44 Transit Score

90 Walk Score

3 Spaces Available

Name	Space Use	Size	Rent
1st Floor Ste Retail 1	Retail	2,150 SF	$30.00 USD/SF/YR
Corner location on Pearl and Alvarado. 5 Huge retail windows facing Pearl St. 2 huge windows on Alvarado. Entry door to be constructed at corner, Parking Lot. THIS IS HALF OF THE FORMER RITE AID. Windows are tinted. Space can be expanded to 4500 SF on ground or add 3000 SF from second floor. See attached floor plans. This building is also for sale Date available: Now Lease term: 3 - 5 Years Service type: Triple Net Built out as: Standard Retail Space Type: Relet In Contiguous block: 7,438 SF
1st Floor Ste Retail 2	Retail	2,450 SF	$30.00 USD/SF/YR
First Retail door on Alvarado St. Huge retail windows facing Alvarado. Parking Lot. THIS IS HALF OF THE FORMER RITE AID. Windows are tinted. Space can be expanded to 4500 SF on ground or add 3000 SF from second floor. See attached floor plans. This building is also for sale All combined we have over 7377 SF for Lease divisible to 2150, 2500, 4500, and 3100. Date available: Now Lease term: 3 - 5 Years Service type: Triple Net Built out as: Standard Retail Space Type: Relet In Contiguous block: 7,438 SF
2nd Floor Ste Office 3	Office	2,838 SF	Rate Upon Request
Date available: Now Lease term: Negotiable Service type: Negotiable Built out as: Standard Office Space Type: Relet In Contiguous block: 7,438 SF

Description

Rare Landmark freestanding building in the heart of downtown Monterey with pull up parking which is very rare in Downtown Monterey . 7873 SF of Retail and office. Seller will consider financing with 20% down and approved financials. Steps to Trader Joes and Fishermans Wharf, Surrounded by 1500 Hotel Rooms and across the street from the Monterey Public Transport hub making it Easily accessible by visitors and public transportation. Corner location on Pearl and Alvarado. 5 Huge retail windows facing Pearl St. 2 huge windows on Alvarado. Entry door to be constructed at corner, Parking Lot. THIS IS HALF OF THE FORMER RITE AID. Windows are tinted. Space can be expanded to 4500 SF on ground or add 3000 SF from second floor. See attached floor plans. This building is also for sale All combined we have over 7000 SF for Lease divisible to 2150, 2500, 4500, and 3100. Boasting a walk score of 90 and bike score of 80. After 40 years as the locals pharmacy destination the building is vacant -perfect for a single Tenant or split the ground floor for 2 retail users and use the existing water credits for apartment on the second floor. Proforma rents as a single Tenant result in a 5 Cap

Originally buildt in 1951 as a bank this corner building has been a bustling pharmacy for the last 4 decades first home to Ordway Pharmacy and most recently home to Rite Aid. The building has a frontage of 239 feet on Alvarado Street and offers 10 parking spaces on a separate APN. This offering is for both the building and the adjacent parking lot that offers 10 spaces.

This buildings proximity to prestigious educational institutions such as the Middlebury Institute of International Studies at Monterey and the Naval Postgraduate School provides potential customers and access to a skilled and educated workforce. These institutions foster a culture of innovation and diversity This beautiful Building is at the entrance of Old Monterey, a historic district that offers a variety of attractions, such as the Monterey Museum of Art, the Colton Hall Museum, and the Monterey State Historic Park1. A short walk the Fisherman’s Wharf and the Monterey Bay Aquarium. Monterey, California is a great location to establish your business. Our region is home to various industries, including agriculture, tourism, healthcare, and technology According to the Monterey County Convention and Visitors Bureau, tourists spent $3.24 billion in Monterey County in 2019, generating $127.8 million in local tax revenue and supporting more than 25,000 jobs. The average daily spending per visitor in Monterey County was $333.40 in 2019, with the highest spending categories being lodging, food and beverage, and recreation.
Ideally located between major metropolitan areas like San Francisco and Los Angeles, making it an ideal midpoint for business and travel 1
.

Call Anthony at 8316013284 for more information on this Prime investment opportunities.
A few facts about Monterey County

• Monterey was the capital of California from 1849 to 18511.
• Monterey is home to the oldest continuously operating hotel in California, the Hotel Del Monte2.
• Monterey hosts the longest-running jazz festival in the country, the Monterey Jazz Festival2.
• Monterey has one of the most diverse tide pools in the world, the Great Tide Pool3.
• Monterey grows more Chardonnay grapes than any other California wine region

                
                    Highlights
                
                                Best Corner in Downtown Monterey Where Alvarado Meets Munras and Pearl
                            
                                Traffic Counts from 4500-14000, Located at Public Transportation Hub
                            
                                7873 SF Retail or Office or make the second floor Residential 
                            
                                Rare opportunity has not been available for 4 decades
                            
                                Includes the adjacent parking lot on another APN
                            
                                Seller will carry with 20% down at a reasonable rate