Downtown Retail and Office
For Sale
$1,215,000
140 Central Avenue, Salinas, CA 93901
Commercial property on Central Avenue offers downtown visibility and convenient access for retail, office, or service-oriented use.
Property Size2,629 SF
Price / SF$462.15
Days on Market67
Property Features for 140 Central Avenue
General Information
Standard status
Active
Size
2,629 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1938
Listing Agency:
Baird Partnership, Inc.
(831) 238-3592
Listed By:
Patrick Stafford · License #01857243
(831) 238-3592
Source:
Exitrealty
Added: Jun 19
Changed: Aug 23
Last Checked: Aug 22 at 6:50AM
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 Baird Partnership, Inc.
Investment Insights
Based on property information with market context.
140 Central Avenue is a commercial property offering space suited for retail, office, service-oriented, or creative users. The offering is positioned for daytime customer traffic and flexible business use within a central downtown setting.
Located in the heart of Downtown Salinas along one of the city’s primary commercial corridors, the property benefits from strong visibility and convenient access. The immediate area is described as a mix of restaurants, retail, professional services, and municipal offices.
Public walkability indicators are provided with a Walk Score of 79 (Very Walkable). Bike and transit indicators are also noted, with Bike Score of 50 (Bikeable) and Transit Score of 29 (Some Transit).
Located in the heart of Downtown Salinas along one of the city’s primary commercial corridors, the property benefits from strong visibility and convenient access. The immediate area is described as a mix of restaurants, retail, professional services, and municipal offices.
Public walkability indicators are provided with a Walk Score of 79 (Very Walkable). Bike and transit indicators are also noted, with Bike Score of 50 (Bikeable) and Transit Score of 29 (Some Transit).
Key Highlights
- Commercial property at 140 Central Avenue, built in 1938
- Located in Downtown Salinas on Central Avenue, a primary commercial corridor
- Convenient access and close proximity to restaurants, retail, professional services, and municipal offices
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
$40,602
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
3.34%
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%
$812,040
$812.0K
Cap Rate 7%
$580,029
$580.0K
Cap Rate 9%
$451,133
$451.1K
Market Conditions
NOI Build-Up for 2,629 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
$69.4K $26.40/SF
− Vacancy
−$15.3K −$5.81/SF
EGI
$54.1K $20.59/SF
− OpEx
−$13.5K −$5.15/SF
NOI
$40.6K $15.44/SF
Area
Salinas, CA
Vacancy
22.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$812,040
Cap Rate 7%
$580,029
Cap Rate 9%
$451,133
Alternative Uses
Best Use
Office B
$580.0K
$507.5K – $676.7K
NOI $40,602 @ 7.0% cap · market cap 3.34%
Second Best
Retail
$536.1K
$469.1K – $625.4K
NOI $37,524 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$827.8K
$724.3K – $965.8K
NOI $57,947 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,121
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property on Central Avenue offers downtown visibility and convenient access for retail, office, or service-oriented use.
Where is this storefront property located?
The property is located at 140 Central Avenue Salinas, CA.
What is the asking price?
The asking price for this property is $1,215,000.
What are key features of this property?
This property features: Commercial property at 140 Central Avenue, built in 1938; Located in Downtown Salinas on Central Avenue, a primary commercial corridor; Convenient access and close proximity to restaurants, retail, professional services, and municipal offices
