499 Alvarado ST, MONTEREY, CA 93940

Active Under Contract

$2,700,000

bedrooms

bathrooms

square feet

7,873

Acreage

0.235

Open Houses

year built

1951

Full Baths

Half Baths

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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

Location
Subdivision	-
County	Monterey
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: ML81953114

Listing status: Active Under Contract

Listing agent: Monterey Peninsula Home Team #70000352

Listing broker: Keller Williams Coastal Estates (831) 622-6200

Last update: Friday, August 22 2025 at 3:45 p.m. EDT

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