Office Building with
New
For Sale
$5,400,000
318 Cayuga Street, Salinas, CA 93901
Two-story, multi-tenant office property with established occupancy, covered parking, and solar power improvements.
Property Size20,212 SF
Lot Size0.27 Acres
Price / SF$267.17
Days on Market4
Property Features for 318 Cayuga Street
General Information
Standard status
Active
Size
20,212 SF
Elevators
Yes
Lot size
0.27 Acres
Property subtype
Commercial
Zoning
CO
Occupancy
100%
Amenities
reinforced concrete foundation
painted wood-sided exterior walls
suspended acoustical tile ceilings
multiple HVAC zones
fire/smoke alarm systems
solar system
Building Details
Year Built
1979
Buildings
1
Stories
2
Building Size
20,212 SF
Construction
steel frame
Tenancy
Multi
Listing Agency:
KW Coastal Estates
Listed By:
Monterey Peninsul...
(714) 497-3550
Source:
Sevengables
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 8:49AM
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
Investment Insights
Based on property information with market context.
This two-story office building offers 20,212 SF of multi-tenant workspace on an approximately 11,700 SF parcel. The property is fully leased to multiple office users and includes a passenger elevator, covered parking, multiple HVAC zones, suspended acoustical tile ceilings, and fire and smoke alarm systems. Construction features include a reinforced concrete foundation, structural steel framing, and painted wood-sided exterior walls. A recently installed solar system is also in place.
Located at 318 Cayuga St in Salinas, the property is within an established office market serving Monterey County’s county seat and regional business center. The surrounding economy includes agriculture, healthcare, government services, and manufacturing, with nearby County offices and Salinas Valley Memorial Hospital. The parcel is zoned Commercial Office (CO), and the building was constructed in 1979.
Located at 318 Cayuga St in Salinas, the property is within an established office market serving Monterey County’s county seat and regional business center. The surrounding economy includes agriculture, healthcare, government services, and manufacturing, with nearby County offices and Salinas Valley Memorial Hospital. The parcel is zoned Commercial Office (CO), and the building was constructed in 1979.
Key Highlights
- 20,212 SF two‑story office building on an approximately 11,700 SF parcel
- Fully leased to multiple office users
- Commercial Office (CO) zoning
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
$312,154
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
5.78%
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%
$6,243,080
$6.2M
Cap Rate 7%
$4,459,343
$4.5M
Cap Rate 9%
$3,468,378
$3.5M
Market Conditions
NOI Build-Up for 20,212 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
$533.6K $26.40/SF
− Vacancy
−$117.4K −$5.81/SF
EGI
$416.2K $20.59/SF
− OpEx
−$104.1K −$5.15/SF
NOI
$312.2K $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%
$6,243,080
Cap Rate 7%
$4,459,343
Cap Rate 9%
$3,468,378
Alternative Uses
Best Use
Office B
$4.46M
$3.90M – $5.20M
NOI $312,154 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.36M
$5.57M – $7.43M
NOI $445,505 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story, multi-tenant office property with established occupancy, covered parking, and solar power improvements.
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: 20,212 SF two‑story office building on an approximately 11,700 SF parcel; Fully leased to multiple office users; Commercial Office (CO) zoning
