Listed by KW Coastal Estates, Monterey Peninsula Home Team, Listing Contact: 831-601-3284

7,873 sqft

$2,686,250

499 Alvarado ST, Monterey CA, 93940

Price per sqft$341.20

Built in1951

Property size7,873 sqft

Property typeCommercial

Overview

Sold

Listed Feb 1, 2024

Updated Jul 25

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

Additional information

MLS^® ID: ML81953114

Interior Features

Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.24 Acres

Listed by KW Coastal Estates, Monterey Peninsula Home Team DRE:70000352,
Listing Contact: 831-601-3284

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Data last updated 2:53 AM UTC, 7/25/2026