Building Details

Year Built 1916

Buildings 1

Tenancy Multi

Listing Agency: Del Monte Realty, Inc.

Listed By: Michael Kirch · License #01227726 Show Phone

Source: Myfabuloushome

Added: Jul 29 Changed: Sep 23 Last Checked: Oct 5 at 10:57PM

Report an Issue

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 Del Monte Realty, Inc.

Investment Insights

Based on property information with market context.

This retail storefront property includes two long-term tenants and is associated with the addresses 350 Main Street and 354 Main Street. The property is identified under one APN and was built in 1916.

Located in downtown Salinas, the building offers an established commercial presence along Main Street. Tenant operations should not be disturbed.

Key Highlights

• Two long‑term tenants in place
• Two Main Street addresses: 350 and 354 Main Street
• One APN

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,929

Cap Rate

7.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,638,580 $1.6M

Cap Rate 7%

$1,170,414 $1.2M

Cap Rate 9%

$910,322 $910.3K

Market Conditions

NOI Build-Up for 5,740 SF

Gross rent

$124.0K $21.60/SF

− Vacancy

−$6.9K −$1.21/SF

EGI

$117.0K $20.39/SF

− OpEx

−$35.1K −$6.12/SF

NOI

$81.9K $14.27/SF

Area

Salinas, CA

Vacancy

5.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,638,580

Cap Rate 7%

$1,170,414

Cap Rate 9%

$910,322

Alternative Uses

Best Use

Retail

$1.17M

$1.02M – $1.37M (±1% cap)

NOI $81,929 @ 7.0% cap · market cap 7.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.81M

$1.58M – $2.11M (±1% cap)

NOI $126,519 @ 7.0% cap · market cap 11.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Green's Camera World (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Daycare Center Parking Lot & Garage Kitchen & Bath Showroom Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,481

Businesses Nearby

122k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 40% Hotels & Casinos 2%

Jack in the Box Dining

20,758 visits/mo 0.4 miles

Chase Bank Shops & Services

19,405 visits/mo 0.1 miles

Taco Bell Dining

16,244 visits/mo 0.3 miles

Wells Fargo Shops & Services

13,070 visits/mo 0.2 miles

Starbucks Dining

12,084 visits/mo 0.1 miles

Demographics for 93901, CA

29,700

Population

11,328

Households

2.6

Avg Household Size

37

Median Age

29%

College-Educated

81%

High-School Grad

9.6 sq mi

ZIP Area

3,094

Density / Sq Mi

$91,639

Median Household Income

$47,620

Median Earnings

$1,792

Median Rent

$721,100

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Freestanding Retail Pad-Site

1616 N Main St, Salinas, CA 93906

$3,700,000

5,000 SF

View details

Downtown Retail and Office Space

140 Central Avenue, Salinas, CA 93901

$1,215,000

2,629 SF

View details

Prime Retail Space in Oldtown

231 Main St, Salinas, CA

Contact for pricing

10,189 SF

View details

Mixed-Use Buildings with Parking & Billboard

14 Front St Unit 16, Salinas, CA 93901

$1,400,000

6,630 SF

View details

Fully Improved Greenhouse Industrial Site

20180 Spence Road, Salinas, CA 93908

$2,999,000

6,761 SF

View details

Auto Shop with Secured Parking

221 Griffin Street, Salinas, CA 93901

$950,000

3,083 SF

View details

Duplex With Detached Garage

7685-7695 Pine Tree, Salinas, CA 93907

$1,279,000

2,302 SF

View details

Duplex With Detached Garage

76857695 Pine Tree, Salinas, CA 93907

$1,279,000

2,302 SF

View details

Medical Office Space with 8+ Exam Rooms

262 San Jose St, Salinas, CA 93901

Contact for pricing

5,241 SF

View details

Charming Duplex in South Central Salinas

315 3151/2 Archer Street, Salinas, CA 93901

$870,000

0.20 Acres

View details

Salinas Industrial/Manufacturing Building For Sale

1061 Terven Ave, Salinas, CA 93901

$2,350,000

13,000 SF

View details

Updated Duplex with On-Site Laundry

219 Lang Street, Salinas, CA 93901

$695,000

967 SF

View details

Similar Off Market Nearby

• Destiny’s Precious Gifts — 216 Abbott St, Salinas, CA 93901
• Precious Gifts & Flowers — 216 Abbott St, Salinas, CA 93901
• Wedding Flowers — 245 Main St, Salinas, CA 93901

Frequently Asked Questions

What type of property is this?

Storefront property - Established retail property with two long-term tenants across two Main Street addresses.

Where is this storefront property located?

The property is located at 350 Main St Salinas, CA.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Two long‑term tenants in place; Two Main Street addresses: 350 and 354 Main Street; One APN