Multi-Tenant Retail
For Sale
$1,100,000
350 Main St, Salinas, CA 93901
Established retail property with two long-term tenants across two Main Street addresses.
Property Size5,740 SF
Price / SF$191.64
Days on Market33
Property Features for 350 Main St
General Information
Standard status
Active
Size
5,740 SF
Building Details
Year Built
1916
Buildings
1
Tenancy
Multi
Listing Agency:
Del Monte Realty, Inc.
(831) 238-3488
Listed By:
Michael Kirch · License #01227726
Source:
Myfabuloushome
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 9:43AM
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 Del Monte Realty, Inc.
Investment Insights
Based on property information with market context.
This retail storefront property includes two long-term tenants and is associated with the addresses 350 Main Street and 354 Main Street. The property is identified under one APN and was built in 1916.
Located in downtown Salinas, the building offers an established commercial presence along Main Street. Tenant operations should not be disturbed.
Located in downtown Salinas, the building offers an established commercial presence along Main Street. Tenant operations should not be disturbed.
Key Highlights
- Two long‑term tenants in place
- Two Main Street addresses: 350 and 354 Main Street
- One APN
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
$81,929
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
7.45%
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%
$1,638,580
$1.6M
Cap Rate 7%
$1,170,414
$1.2M
Cap Rate 9%
$910,322
$910.3K
Market Conditions
NOI Build-Up for 5,740 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
$124.0K $21.60/SF
− Vacancy
−$6.9K −$1.21/SF
EGI
$117.0K $20.39/SF
− OpEx
−$35.1K −$6.12/SF
NOI
$81.9K $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 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%
$1,638,580
Cap Rate 7%
$1,170,414
Cap Rate 9%
$910,322
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.37M
NOI $81,929 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,519 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,481
Businesses Nearby
122k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 40%
Hotels & Casinos 2%
Jack in the Box
Dining
20,758 visits/mo
0.4 miles
Chase Bank
Shops & Services
19,405 visits/mo
0.1 miles
Taco Bell
Dining
16,244 visits/mo
0.3 miles
Wells Fargo
Shops & Services
13,070 visits/mo
0.2 miles
Starbucks
Dining
12,084 visits/mo
0.1 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Established retail property with two long-term tenants across two Main Street addresses.
Where is this storefront property located?
The property is located at 350 Main St Salinas, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two long‑term tenants in place; Two Main Street addresses: 350 and 354 Main Street; One APN
