Building Details

Year built 1916

Floors in Building 1

Flooring type Tile

Roof type Flat

Buildings 1

Listing Agency: Del Monte Realty, Inc. Show Phone

Listed By: Michael Kirch · License #01227726 Show Phone

Added: Dec 3, 2025 Changed: Oct 25 Last Checked: Oct 27 at 3:06PM

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MLS# ML82028684

Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This Salinas retail property has storefront space and two long-term tenants. The building dates to 1916 and has tile flooring, a flat roof, and an accessible approach with a ramp.

The property is addressed at 350 and 354 Main Street in downtown Salinas. Both addresses are associated with one APN, and the zoning designation is C.

Key Highlights

• Two long‑term tenants
• Two Main Street addresses: 350 and 354, listed under one APN
• Built in 1916

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,929

Cap Rate

8.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,638,580 $1.6M

Cap Rate 7%

$1,170,414 $1.2M

Cap Rate 9%

$910,322 $910.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,740 SF

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 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 (±1% cap)

NOI $81,929 @ 7.0% cap · market cap 8.20%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.81M

$1.58M – $2.11M (±1% cap)

NOI $126,519 @ 7.0% cap · market cap 12.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Green's Camera World (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Daycare Center Parking Lot & Garage Kitchen & Bath Showroom Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The property has two long-term tenants and is identified by two Main Street addresses under one APN.

Where is this storefront property located?

The property is located at 350 Main Street Salinas, CA.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: Two long‑term tenants; Two Main Street addresses: 350 and 354, listed under one APN; Built in 1916