Salinas Light Industrial Condominiums

312 Abbott St, Salinas, CA

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For Sale

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Light industrial condominiums with auto repair and detail uses.

Type:INDUSTRIAL

Property size:

21,738 SF

Lot size:

0.50 Acres

Price / SF:

$243/SF

HighLights

Improved cap rate at 6.33%
Condominium map with 12 separate APNs under single ownership
Recently renewed leases at market rate
Mix of auto repair/detail and light industrial tenants, including a permitted automotive paint booth
Located in Salinas, CA, an area with a severe lack of small, light industrial space
±56 off‑street parking spaces and on‑site common area restrooms

We can help!

Listing Contact

James Kendall

For Sale

Contact for pricing

Light industrial condominiums with auto repair and detail uses.

Type:INDUSTRIAL

Property size:

21,738 SF

Lot size:

0.50 Acres

Price / SF:

$243/SF

Added:: Jan 24, 2025
Days on Market:: 506
Last Refresh:: May 20 at 8:14 pm

Property Features for 312 Abbott St

General Information

Standard status: Active
Size: 21,738 SF
Lot size: 0.50 Acres
Property subtype: INDUSTRIAL

We can help!

Listing Contact

James Kendall

Listing agent James Kendall

Listing office Mahoney & Associates Commercial Real Estate

Listing date Jan 24, 2025

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Mahoney & Associates Commercial Real Estate

HighLights

Improved cap rate at 6.33%
Condominium map with 12 separate APNs under single ownership
Recently renewed leases at market rate
Mix of auto repair/detail and light industrial tenants, including a permitted automotive paint booth
Located in Salinas, CA, an area with a severe lack of small, light industrial space
±56 off‑street parking spaces and on‑site common area restrooms

Overview

Located in Salinas, CA, the property at 312 Abbott St. is available for sale. The property consists of a condominium map containing 12 separate APNs held under a single ownership and being sold as a combined set. The tenant roster includes a mix of auto repair and detail uses, other light industrial uses, and a permitted automotive paint booth. Unit sizes range from approximately 1,447 to 3,389 square feet. The property includes on-site his and hers common area restrooms and approximately 56 off-street parking spaces. The leases were recently renewed with rents brought up to market rate. The surrounding Monterey County area experiences a lack of small, light industrial space available for lease, providing tenant demand for space to lease. The property size is 21,738 square feet.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$469.5k	$21.60
− Vacancy	−$26.3k	−$1.21
EGI	$443.2k	$20.39
− OpEx	−$133.0k	−$6.12
NOI	$310.3k	$14.27

21,738 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%

Alternative Uses

Best Use

Retail

$4.43M

$3.88M – $5.17M (±1% cap)

NOI $310,273 @ 7.0% cap · market cap 5.86%

Second Best

Flex RnD

$3.15M

$2.76M – $3.68M (±1% cap)

NOI $220,762 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$6.84M

$5.99M – $7.99M (±1% cap)

NOI $479,140 @ 7.0% cap · market cap 9.05%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

EXCLUSIVE TINTING Interior Design Gregory's Imports Autobody Auto Repair Shop Progressive Auto Repair Auto Repair Shop Innovative Street Lights Auto Parts Store Econo Cabinets General Contractor

Suggested Use

Similar Places Nearby

Trio's Cafe & Catering — 614 Airport Blvd, Salinas, CA 93905

Location Insight

Map
Local Demand

City: Salinas
County: Monterey
State: California
Longitude: -121.646
Latitude: 36.6669

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For sale
Flex space
CA
Salinas
312 Abbott St

What type of property is this?

Flex space - Light industrial condominiums with auto repair and detail uses.

Where is this flex space located?

The property is located at 312 Abbott St Salinas, CA.

What is the asking price?

The asking price for this property is $5,295,000.

What are key features of this property?

This property features: Improved cap rate at 6.33%; Condominium map with 12 separate APNs under single ownership; Recently renewed leases at market rate

312 Abbott St, Salinas, CA

Light industrial condominiums with auto repair and detail uses.

Property Features for 312 Abbott St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Boutique Motel With Owner Quarters

Church Building with Community Room

Four-Unit Cottage-Style Quadplex

Downtown Salinas Office Building

Salinas Retail/Office Investment Opportunity

Downtown Salinas Retail Storefront Building

Salinas Townhouse-Style Apartment Building

Medical/Office Suites For Sale

Mixed-Use Buildings with Parking & Billboard

Salinas Commercial Property For Sale

Medical/Office Building For Sale

Salinas Industrial/Manufacturing Building For Sale

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