Too much scope for Remington 700

Is the Nikon Monarch 6-24-50 BDC too much scope for the Remington 700 CDL, .270? We want to target out to 500 yards and also use for for hunting.

Depends what and how you're hunting. For game like whitetails, yes, it's too much. For mulies and elk, way too much for me, also. Maybe not too much for antelope for some people, but certainly too much for me for that application, also. I've shot dozens of big game animals, and I wouldn't choose that magnification range for any big game. That magnification scope is good for prarie dogs and some other varmints, but low power is generally much more important than high power. You can always shoot far with low power, but you can't shoot close with high power. Generally my hunting scopes start at 2, 3, or 4 power maximum. A 2-12, 3-9, 3.5-10, or maximum 4-12 will do everything you can do with a high magnification scope, but will still allow you to take a fast, close shot, and of course, will be substantially brighter in terms of exit pupil.

The Nikon Monarchs are very good scopes, and I have hunted with them from Africa to some Western states. My favorite is the 2.5-10x42. No need for me to have a 50mm objective lens with a higher than necessary optical center, and a parallax adjustment is just something to get in the way. It's nice to see you're wanting to put a quality scope on a really great gun like your CDL.
Take a look at this article, "How to Buy a Riflescope" that I wrote a few years ago. A bit dated in terms of bullet drop compensators, but still relevant.

If you are really planning on shooting at 500 yards, which most people realistically never will, then yes, you may want to have more magnification, but the overall usefulness of your hunting package will be diminished.

Thank You, I appreciate your help.

Hope it helped, thanks for the question!