Located two blocks from the world famous Ocean Avenue, this mixed-use property has recently undergone a large rennovation. A portion of the second floor has been converted to a 2-bedroom / 2.5-bath luxory residential unit. There are three commercial tenants currently in the building. The City of Carmel Planning office has approved 1-3 additional units for the vacant space in the rear of the building. The one vacant street-fronting retiail space has group 3 water credits. A condo map is possible for the commercial and residential units. Property includes 0.75 acre feet of water from the Malpaso Water Company. The Seller is interested in leasing-back the existing residential unit.