Prime Retail Space in
For Sale
Contact for pricing
231 Main St, Salinas, CA
High-visibility retail/restaurant space in the heart of Oldtown Salinas.
Property Size10,189 SF
Lot Size0.21 Acres
Price / SF$215.92
Days on Market316
Property Features for 231 Main St
General Information
Standard status
Active
Size
10,189 SF
Lot size
0.21 Acres
Property subtype
RETAIL
Properties For Sale
at 231 Main St
231 Main St
AVAILABLE, Now
Floor
Bldg
Size
12,865 SF
Type
RETAIL
Sublease
No
- Mahoney & Associates is pleased to present for lease 231 Main St. located in the heart of “Oldtown” Salinas, a high visibility, high traffic location ideally situated for a host of retail uses or even the next great restaurant in Town. Comprising mostly ground floor space (7,452 sq. ft.) with high ceilings, skylights, a bar area, and space for a kitchen and additional storage, the space is prime for many opportunities. There are entrances on both Main St. and the public parking lot off of Monterey St. at the rear. Above the rear section of the building there is another 2,736 sq. ft. of office space that could be converted into apartment space with the passing of the City’s Adaptive Reuse Ordinance.
Contact us
Listing Agency:
Mahoney & Associates Commercial Real Estate
(831) 646-1919
Listed By:
James Kendall
(831) 275-0129
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Aug 25 at 5:13AM
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
Investment Insights
Based on property information with market context.
Located in the heart of Oldtown Salinas, 231 Main St. offers a high-visibility location suitable for various retail uses or a restaurant. The property features 7,452 sq. ft. of mostly ground floor space with high ceilings, skylights, and a bar area. Space is available for a kitchen and additional storage. Entrances are located on both Main St. and the public parking lot off of Monterey St. at the rear of the building. Above the rear section of the building, there is an additional 2,736 sq. ft. of office space. This office space could be converted into apartment space if the City’s Adaptive Reuse Ordinance is passed. The property benefits from high traffic in the area.
Key Highlights
- High‑visibility, high‑traffic location in the heart of "Oldtown" Salinas.
- Large ground floor space (7,452 sq. ft.) suitable for retail or restaurant use.
- Features include high ceilings, skylights, and a bar area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,520
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,310,400
$3.3M
Cap Rate 7%
$2,364,571
$2.4M
Cap Rate 9%
$1,839,111
$1.8M
Market Conditions
NOI Build-Up for 10,189 SF
Gross rent
$232.3K $22.80/SF
− Vacancy
−$11.6K −$1.14/SF
EGI
$220.7K $21.66/SF
− OpEx
−$55.2K −$5.42/SF
NOI
$165.5K $16.25/SF
Area
Salinas, CA
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,310,400
Cap Rate 7%
$2,364,571
Cap Rate 9%
$1,839,111
Alternative Uses
Best Use
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,520 @ 7.0% cap · market cap 7.52%
Second Best
Retail
$2.08M
$1.82M – $2.42M
NOI $145,430 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,582 @ 7.0% cap · market cap 10.21%
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
Location Intelligence
Trade Area within ½ mile
2,347
Businesses Nearby
106k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 11%
Hotels & Casinos 2%
Home Improvements & Furnishings 1%
Chase Bank
Shops & Services
19,405 visits/mo
0.3 miles
Wells Fargo
Shops & Services
13,070 visits/mo
0.4 miles
Starbucks
Dining
12,084 visits/mo
0.3 miles
7-Eleven
Shops & Services
11,996 visits/mo
0.5 miles
AutoZone
Shops & Services
7,119 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - High-visibility retail/restaurant space in the heart of Oldtown Salinas.
Where is this retail space located?
The property is located at 231 Main St Salinas, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: High‑visibility, high‑traffic location in the heart of "Oldtown" Salinas.; Large ground floor space (7,452 sq. ft.) suitable for retail or restaurant use.; Features include high ceilings, skylights, and a bar area.
