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80 Garden Court

80 Garden Court
Monterey, CA 93940
Availability: Price:$7,100,000 Size:34,306 SF
Shipping: Marcus & Millichap is pleased to present 80 Garden Court in Monterey, CA.
Pricing: $0.00
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

BRAD PETERS | Associate


Managing Partner: Tashakorian Group
License: CA 02025155
Dir: (858) 373-3227
Cell: (805) 208-6210
brad.peters@marcusmillichap.com

Description

Marcus and Millichap’s Real Estate Group is pleased to exclusively offer the opportunity to acquire 80 Garden Court located in Monterey, California. The offering is a multiple-tenant, 34,306-square-foot medical office building located at 80 Garden Court. This building is 89 percent occupied. The subject property is strategically located to the Monterey Regional Airport, Highway 68 and Highway 1. The subject property has a diverse array of medical and professional tenants. 80 Garden Court was constructed in 1985 and was extensively renovated over the last few years by the current owners. Capital has been injected into the property for common area finish upgrades, restroom upgrades, new TPO roof, new HVAC systems throughout, fire alarm upgrade, interior lighting upgrade and 5 new parking ADA spots and an architecturally approved/ permitted ADA ramp. Located in beautiful Monterey, California, a well visited city by tourists throughout the world. With diverse medical tenants and a strategic location, 80 Garden Court offers an investor a stable in place income stream and opportunity to increase value by lease up.

Features

  • 34,306 SF, Multi-Tenant, Medical Office Building
  • Great Value-Add Opportunity
  • High Barrier to Market and an Irreplaceable Location

Offering Price

$7,100,000

Net Rentable Area

34,306 SF

Price Per SF

$206.96

CAP Rate - Year 1

5.24%

Year Built

1983

Parking Spaces

146 free Surface Spaces

Parking Ratio

4.26/1,000 SF

Number of Stories

3

Details

  • 22932284
  • Office
  • Price:$7,100,000 Size:34,306 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Marcus & Millichap is pleased to present 80 Garden Court in Monterey, CA.

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