Auto Shop with Secured
For Sale
$950,000
221 Griffin Street, Salinas, CA 93901
Industrial-commercial building configured for automotive repair with private parking, office space, and a restroom.
Property Size3,083 SF
Price / SF$308.14
Days on Market81
Property Features for 221 Griffin Street
General Information
Standard status
Active
Size
3,083 SF
Property subtype
Commercial/Industrial
Zoning
IGC
Additional Details
Mezzanine
725 SF
Taxes and HOA fees
Annual Taxes
$2,394
Amenities
secured parking area
high ceilings
14-foot roll-up door
private office
restroom
mezzanine storage
new electrical
new roof
new bathroom fixtures
new drywall
Building Details
Year Built
1988
Buildings
1
Stories
1
Listing Agency:
Piini Realty
Listed By:
Joe Piini · License #01889295
(831) 422-5327
Source:
Exitrealty
Added: Aug 8
Changed: Oct 25
Last Checked: Sep 29 at 8:23AM
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 Piini Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This automotive repair property offers a practical industrial-commercial configuration with 2,394 square feet on the ground floor. The layout includes high ceilings, a 14-foot roll-up door, a private office, and a restroom. A 725-square-foot mezzanine adds storage capacity, while the secured parking area supports the day-to-day needs of an operating business.
The property is located at 221 Griffin St in South Salinas and is zoned IGC by the City of Salinas. The zoning supports retail, wholesale, services, and the current automotive repair use. Building updates include electrical work, roofing, bathroom fixtures, and drywall. Constructed in 1988, the property provides an owner-user setting with dedicated parking and functional commercial improvements.
The property is located at 221 Griffin St in South Salinas and is zoned IGC by the City of Salinas. The zoning supports retail, wholesale, services, and the current automotive repair use. Building updates include electrical work, roofing, bathroom fixtures, and drywall. Constructed in 1988, the property provides an owner-user setting with dedicated parking and functional commercial improvements.
Key Highlights
- 2,394 SF ground‑floor layout with high ceilings
- 725 SF mezzanine for additional storage
- 14‑foot‑high roll‑up door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,005
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,100
$880.1K
Cap Rate 7%
$628,643
$628.6K
Cap Rate 9%
$488,944
$488.9K
Market Conditions
NOI Build-Up for 3,083 SF
Gross rent
$66.6K $21.60/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$62.9K $20.39/SF
− OpEx
−$18.9K −$6.12/SF
NOI
$44.0K $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%
$880,100
Cap Rate 7%
$628,643
Cap Rate 9%
$488,944
Alternative Uses
Best Use
Retail
$628.6K
$550.1K – $733.4K
NOI $44,005 @ 7.0% cap · market cap 4.63%
Second Best
Flex RnD
$447.3K
$391.4K – $521.8K
NOI $31,310 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$970.8K
$849.4K – $1.13M
NOI $67,954 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- CB AUTO COLLISION — 330 Maple St, Salinas, CA 93901
- Da Tint Machine — 245 maple st unit a, salinas, ca 93901
- Rhino Linings — 250 B Abbott St, Freedom, CA 95019
- Gregory's Imports Autobody — 312 Abbott St K, Salinas, CA 93901
- EXCLUSIVE TINTING — 312 Abbott St, Salinas, CA 93901
Frequently Asked Questions
What type of property is this?
Auto shop - Industrial-commercial building configured for automotive repair with private parking, office space, and a restroom.
Where is this auto shop located?
The property is located at 221 Griffin Street Salinas, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,394 SF ground‑floor layout with high ceilings; 725 SF mezzanine for additional storage; 14‑foot‑high roll‑up door
