Comstock Commercial Building Dolores & 7th
5,886 SF Retail Building Carmel, CA 93921 $5,750,000 ($977/SF)
Investment Highlights
- Rare Opportunity to Buy Commercial Property on Best Block in Downtown Carmel-By-The-Sea
- Planning Approval for Renovation of Interior
Executive Summary
Mahoney & Associates is pleased to present to the market 6 SW of Ocean on Dolores St. (previously known as the China Art Center) in downtown Carmel-by-the-Sea. The iconic property is situated on, arguably, the most desirable block in downtown Carmel. The previously 6,566 SF building (including basement, ground floor and second floor), has undergone a complete interior demolition, with only the basement, ground floor, and small landing on second floor remaining. This demolition was part of a planning approved interior renovation, which also approved a roof top deck with elevator service.
The plans also allow for an outdoor terrace and a 1,172 square foot second floor to be reinstated. This extremely well located property is currently vacant - offering an opportunity seldom seen in Carmel for an owner/ occupant or an investor to reposition the property. The property will be delivered vacant and in it’s “as-is”, “where-is”, condition upon close of escrow.
The plans also allow for an outdoor terrace and a 1,172 square foot second floor to be reinstated. This extremely well located property is currently vacant - offering an opportunity seldom seen in Carmel for an owner/ occupant or an investor to reposition the property. The property will be delivered vacant and in it’s “as-is”, “where-is”, condition upon close of escrow.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,886 SF
Building Class
C
Year Built
1930
Price
$5,750,000
Price Per SF
$977
Tenancy
Single
Building Height
3 Stories
Building FAR
1.50
Lot Size
0.09 AC
Zoning
CC
Walk Score®
Walker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 010-147-006-000 | Improvements Assessment | $902,026 |
Land Assessment | $3,608,107 | Total Assessment | $4,510,133 |