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380-398 FOAM STREET
MONTEREY, CA 93940

Sold
$3,850,000
Sold on 12/14/2017
  • -- Beds
  • 0/0 Baths
  • 2 sqft
  • Commercial | Commercial Property
  • Closed Sale
380-398 FOAM STREET, MONTEREY - 306871319

Property Description for 380-398 FOAM STREET, MONTEREY CA 93940

This offering is for a pride of ownership leased investment property made up of three mixed-use office/retail buildings (380 Foam Street, 398 Foam Street, 101 Drake) that sit on two lots of record (001-003-006 & 007). There are 32 designated Tenant parking spaces in the rear of the building. The buildings have architectural details including red tile roofs, a second story open courtyard with a glass roof, and archways with motifs surrounding the exterior doors and windows. In 2014 the buildings were painted and the flat roof sections were replaced. There are currently 14 total leasable units across the three buildings (7 ground floor spaces and 7 second floor spaces). The Tenant mix is well-diversified between retail and office users: full spa, software company, doctors office, deli/coffee shop, investment advisor, tattoo shop, and professional office users. The property has strong rental history. A rent roll for the property is available upon request.

  • Property Class: Commercial/Industrial
  • Listing Status: Closed Sale
  • City: MONTEREY
  • State: CA
  • Zip: 93940
  • Area: 111 - Cannery Row/Lighthouse Business District
  • County: Monterey
  • Class: Commercial
  • Property Subtype: Commercial Property
  • Approx Lot Size: 0.725
  • Baths (F/H): 0/0
  • Baths Partial: 0
  • Living Area (SqFt): 2 sqft
  • Lot Sq Ft Apx: 31587.00
  • Year Built: 1990
  • Listing#: 81676941
  • Parcel Number: 001-033-006
  • Close Date: 12/14/2017
  • List Date: 9/7/2017
  • Last updated on: 1/20/2018

Property Features for 380-398 FOAM STREET, MONTEREY CA 93940

  • Cooling: None
  • Heating: Forced Air
  • Security Features: None
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Utilities Sewer: Sewer - Public
  • Utilities Water: Public
  • Year Built: 1990
  • Community Features: Multi-Tenant Building
  • Zoning: C-2
  • Foundation: Concrete Perimeter And Slab, Concrete Slab
  • Roof: Tile
  • Present Use: Office, Retail

Additional Information for 380-398 FOAM STREET, MONTEREY CA 93940

  • Expenses: 84210.00
  • Garage Style: Off-Street Parking
  • Gross Income: 298693.00
  • Office Area: 12805
  • Property Tax: $46,310
  • Rent Income: 307931.00
  • REO Y/N: N/A
  • REO/ Bank Owned: No
  • Roof: Tile
  • Short Sale Y/N: N/A
Courtesy of Patrick Stafford, Baird Partnership, Inc.
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