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650 E Franklin ST Monterey, CA
$ 1,299,000
Property Attributes
  • MLS#ML81867673
  • TypeCommercial
  • CountyMONTEREY
  • CityMonterey
  • AreaDowntown-Fisherman Wharf
  • Zip93940
  • Style
  • Price$ 1,299,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1125
  • Lot Size0.33 Acres
Listing Provided Courtesy Of:
The Ruiz Group with KW Coastal Estates.
Data Source:
MLSListings - 40 - CA
Property Description

Owner Financing available for Commercial Listing or High Density Multi-Family in Monterey. Located close to Downtown Monterey, Fishermans Wharf, and many more desirable amenities, this site offers almost 1/3 acre of flat usable space with a 1,132sf building, currently occupied by a garden center. Tenant is month to month, but willing to stay. Rents are below market. 3.7% Cap Rate at current rents. Upside opportunity for investor or developer. Prime Monterey location. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Terms 30% down, 4% interest only, amortized over 25 years due in 20. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.

Price History
10/21/2021 Listed $1,650,000
11/8/2021 22% - $1,299,000

General Features

Accessibility None
Age 78
Business Name Tope's Sustainable Garden Center
City Limits (y/n) Yes
Cooling None
County Monterey
Heating Forced Air
Incorporated Y/n Yes
Listing Agent State License 70010112
MLS Area Downtown/Fisherman Wharf
Present Use Nursery, Retail, Other
Property SubType Commercial Property
Property Type Commercial/Industrial
Restrictions None
Roof Composition
Security Features Security Fence
Special Listing Conditions Not Applicable
Status Active
Utilities Public Utilities
Water Public
Year Built 1943
Zoning Text PC-planned community

Exterior Features

Building Area Total 1125
Facilities Office, Showroom, Other
Foundation Details Concrete Slab
Lot Acres 0.3283
Lot Size Area 14300.00
Lot Size Units Square Feet
Maximum Lot Size 14300.00
Meters Separate Electric, Separate Gas, Separate Water
Parking Features Other
Sewer/Septic Sewer - Public
Yard Sqft 14300


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 93940

AVG $1.65M
AVG 29
Year Built
AVG 1964
AVG 79
Data Provided by Walkscore ® not using MLS data

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