- $2.7M Price
- .24 Acres
- 423 DOM
499 Alvarado Street
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 Fisherman's 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. Boasting a walk score of 90 and bike score of 80. After 40 years as the local 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
Essential Information
- MLS® #ML81953114
- Price$2,700,000
- Bathrooms0.00
- Acres0.24
- Year Built1951
- TypeCommercial Sale
- StatusActive Under Contract
Community Information
- Address499 Alvarado Street
- Area699 - Not Defined
- CityMonterey
- CountyMonterey
- Zip Code93940
Amenities
- Parking Spaces10
Interior
- HeatingCentral
- CoolingGas
- # of Stories2
Exterior
- RoofComposition
Additional Information
- Date ListedFebruary 1st, 2024
- Days on Market423
- ZoningC1
Listing Details
- AgentMonterey Peninsul...
- OfficeKW Coastal Estates
Price Change History for 499 Alvarado Street, Monterey, (MLS® #ML81953114)
| Date | Details | Change |
|---|---|---|
| Status Changed from Active to Active Under Contract | – | |
| Price Reduced from $2,950,000 to $2,700,000 | ||
| Price Reduced from $3,400,000 to $2,950,000 | ||
| Price Reduced from $3,950,000 to $3,400,000 | ||
| Price Reduced from $4,600,000 to $3,950,000 |
Monterey Peninsul..., KW Coastal Estates.
Based on information from California Regional Multiple Listing Service, Inc. as of August 26th, 2025 at 1:33pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.