650 E Franklin Street 650 E Franklin Street Monterey, California 93940 United States
650 E Franklin Street Monterey, California 93940 United States
$1,299,000
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- 14,374.8 Acres
- Exterior
- Land
- Property type
- ML81869892
- Web Id
- ML81869892
- MLS ID
- 173
- days ago
This Property is Currently Contract Pending
About 650 E Franklin Street
Owner Financing available for Commercial Listing or High Density Multi-Family in Monterey. Located close to Downtown Monterey, Fisherman's Wharf, and many more desirable amenities, this site offers almost 1/3 acre of flat usable space with a 1,132 sf 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.
Listing Courtesy of KW Coastal Estates
Listing Courtesy of KW Coastal Estates
features
- Additional Listing Type
- In Contract
PROPERTY INFORMATION
- Water
- Public
EXTERIOR
- Lot Description
- Level
Listing Courtesy of KW Coastal Estates