Multi-Tenant Office
318 Cayuga Street, Salinas, CA 93901
For Sale
$5,400,000
Two-story property with a passenger elevator, covered parking, and a recently installed solar system.
Property Size21,686 SF
Lot Size0.27 Acres
Price / SF$249.01
Days on Market61
Property Features for 318 Cayuga Street
General Information
Standard status
Size
Elevators
Lot size
Property subtype
Zoning
Occupancy
Additional Details
Tenant in Place
Property Use
Amenities
covered parking
solar system
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Tenancy
Abandoned
Listing Agency:
KW Coastal Estates
Listed By:
Monterey Peninsula Home Team · License #70000352
(831) 313-2289
Source:
Gezarealty
Added: Sep 10
Changed: Nov 8
Last Checked: Nov 8 at 2:35PM
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 KW Coastal Estates
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Investment Insights
Based on property information with market context.
At 318 Cayuga Street, this two-story office property was built in 1979 and is fully leased to multiple office users. Building features include a passenger elevator, covered parking, multiple HVAC zones, and fire and smoke alarm systems. A recently installed solar system is also in place. The structure has a reinforced concrete foundation and steel framing, with painted wood siding and suspended acoustical tile ceilings.
The property is in Salinas, near Salinas Valley Memorial Hospital and County offices. The city serves as a regional business center with activity spanning agriculture, healthcare, government services, and manufacturing.
The property is in Salinas, near Salinas Valley Memorial Hospital and County offices. The city serves as a regional business center with activity spanning agriculture, healthcare, government services, and manufacturing.
Key Highlights
- Fully leased to multiple office users
- Two‑story office building with passenger elevator
- Recently installed solar system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$334,919
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,698,380
$6.7M
Cap Rate 7%
$4,784,557
$4.8M
Cap Rate 9%
$3,721,322
$3.7M
Market Conditions
NOI Build-Up for 21,686 SF
Gross rent
$572.5K $26.40/SF
− Vacancy
−$126.0K −$5.81/SF
EGI
$446.6K $20.59/SF
− OpEx
−$111.6K −$5.15/SF
NOI
$334.9K $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 Rate 5%
$6,698,380
Cap Rate 7%
$4,784,557
Cap Rate 9%
$3,721,322
Alternative Uses
Best Use
Office B
$4.78M
$4.19M – $5.58M
NOI $334,919 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.83M
$5.97M – $7.97M
NOI $477,994 @ 7.0% cap · market cap 8.85%
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
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,108
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-story property with a passenger elevator, covered parking, and a recently installed solar system.
Where is this office building located?
The property is located at 318 Cayuga Street Salinas, CA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Fully leased to multiple office users; Two‑story office building with passenger elevator; Recently installed solar system
