Highlights

• Ground Leased Investment Property
• Rare Monterey Fisherman’s Wharf Location
• Long-Term Ground Floor Tenant
• Upper Floor Theater Available for Adaptive Reuse
• Cap Rate: 6.9%

Description

Mahoney & Associates Commercial Real Estate is pleased to offer for sale the Wharf Theater in Monterey, CA. The improvements consist of a ground-leased 2 story building. The first floor houses leased retail space. The second accessed via a central stairwell, features a theater stage of approximately 944 sf., a theater seating area of approximately 1,344 SF with 158 fixed seats. The second floor also features a small art gallery, 2 dressing rooms, and 2 offices and four separate restrooms. There are several storage areas and ample ocean views to the west and east from the upstairs windows. The building has sprinklers but no elevator.

Location

This property is located on Fisherman’s Wharf, also known as Wharf #1, in the coastal community of Monterey.