31 Soledad Dr

Mahoney & Associates is pleased to present to the market 31 Soledad Dr., in Monterey, CA. The property consists of a 2-story building totaling +/- 9,099 SF, with 4 separate units. The building sits on a 6,800 SF lot with great visibility from Soledad Dr., a major road in Monterey that sees 15,257 cars/day and has easy access to Highway 1, 68, and the surrounding communities. Zoning is C-1, allowing for many uses serving the daily needs of nearby residences. Opportunities exist for an owner-user requiring immediate space.

• Desirable frontage, with an estimated 15,257 ADT

• Very central location for access to Salinas, Carmel or Monterey

• 3 established tenants – all with NNN leases

• Available parking

• Opportunity for rental increases over term

• Portion building available for owner-user

ESTIMATED PROPERTY OPERATING INCOME/EXPENSES

Estimated Income

Annual Rental Income (Pro Forma) $123,002.88

Vacancy Factor 3% -$3,690.09

Adjusted Gross Income $119,312.79

Estimated Expenses

Real Estate Taxes (at asking price) -$20,381

Property Insurance -$7,210

Utilities -$10,102

Repairs & Maintenance (3%) -$3,977

Management Fee (5%) -$6,628

Estimated Total Operating Expenses -$48,298

Tenant Reimbursements

Taxes $20,381

Insurance $2,794

Utilities $10,102

Total Tenant Reimbursements $33,277

Estimated Net Operating Income $104,291.79