Two-Building Flex
For Sale
$1,500,000
14 Front St Unit 16, Salinas, CA 93901
Includes attached parking, a billboard, and building access from Commission Street.
Property Size6,630 SF
Price / SF$226.24
Days on Market40
Property Features for 14 Front St Unit 16
General Information
Standard status
Active
Size
6,630 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1952
Buildings
2
Listing Agency:
Steinbeck Realty, Inc.
(831) 595-7494
Listed By:
Stephen Hernandez · License #01882399
Source:
Myfabuloushome
Added: Jul 22
Changed: Aug 29
Last Checked: Aug 29 at 5:31PM
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 Steinbeck Realty, Inc.
Investment Insights
Based on property information with market context.
This flex space property includes two buildings totaling 6,630 square feet, an attached parking lot, and a billboard. Constructed in 1952, the property offers separate structures that can support distinct occupancy arrangements, subject to applicable requirements. One building is occupied, while the other is vacant, providing a mix of existing use and available space.
Access to the buildings is from Commission Street, with proximity to Highway 101 freeway access. The billboard lease is on a year-to-year basis and includes an owner termination option with 90 days’ notice. The property is identified as 14 Front St. Unit 16, Salinas, California.
Access to the buildings is from Commission Street, with proximity to Highway 101 freeway access. The billboard lease is on a year-to-year basis and includes an owner termination option with 90 days’ notice. The property is identified as 14 Front St. Unit 16, Salinas, California.
Key Highlights
- Two buildings totaling 6,630 square feet
- Attached parking lot included with the property
- Billboard lease is structured on a year‑to‑year basis
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,332
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,346,640
$1.3M
Cap Rate 7%
$961,886
$961.9K
Cap Rate 9%
$748,133
$748.1K
Market Conditions
NOI Build-Up for 6,630 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$111.4K $16.80/SF
− Vacancy
−$7.8K −$1.18/SF
EGI
$103.6K $15.62/SF
− OpEx
−$36.3K −$5.47/SF
NOI
$67.3K $10.16/SF
Area
Salinas, CA
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,346,640
Cap Rate 7%
$961,886
Cap Rate 9%
$748,133
Alternative Uses
Best Use
Flex RnD
$961.9K
$841.7K – $1.12M
NOI $67,332 @ 7.0% cap · market cap 4.49%
Second Best
Industrial
$889.8K
$778.6K – $1.04M
NOI $62,286 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,136 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,290
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes attached parking, a billboard, and building access from Commission Street.
Where is this flex space located?
The property is located at 14 Front St Unit 16 Salinas, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two buildings totaling 6,630 square feet; Attached parking lot included with the property; Billboard lease is structured on a year‑to‑year basis
