Medical Office Space with
New
For Sale
Contact for pricing
47-51 E Romie Ln, Salinas, CA 93901
Functional layouts feature reception areas, private offices, and supporting workspaces for medical operations.
Property Size2,500 SF
Price / SF$320
Days on Market5
Property Features for 47-51 E Romie Ln
General Information
Standard status
Active
Size
2,500 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Mahoney & Associates Commercial Real Estate
(408) 726-5885
Listed By:
Ian Jones · License #DRE:02165792
(408) 726-5885
Source:
Moodyscre
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 21 at 12:07PM
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.
This medical office property offers 2,500 square feet of functional space with reception areas, private offices, and support areas. Five private parking spaces are provided per building, supporting convenient access for occupants and visitors. An existing medical office tenant occupies the property under a month-to-month lease.
Located at 47-51 E Romie Ln in Salinas, the property provides access to Downtown Salinas, Highway 101, and surrounding commercial amenities.
Located at 47-51 E Romie Ln in Salinas, the property provides access to Downtown Salinas, Highway 101, and surrounding commercial amenities.
Key Highlights
- 2,500 square feet of medical office space
- Reception areas, private offices, and support spaces
- Five private parking spaces per building
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
$42,120
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
5.27%
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%
$842,400
$842.4K
Cap Rate 7%
$601,714
$601.7K
Cap Rate 9%
$468,000
$468.0K
Market Conditions
NOI Build-Up for 2,500 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
$78.0K $31.20/SF
− Vacancy
−$7.8K −$3.12/SF
EGI
$70.2K $28.08/SF
− OpEx
−$28.1K −$11.23/SF
NOI
$42.1K $16.85/SF
Area
Salinas, CA
Vacancy
10.00%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
40.00%
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%
$842,400
Cap Rate 7%
$601,714
Cap Rate 9%
$468,000
Alternative Uses
Best Use
Healthcare Medical
$601.7K
$526.5K – $702.0K
NOI $42,120 @ 7.0% cap · market cap 5.27%
Second Best
Office B
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$787.2K
$688.8K – $918.4K
NOI $55,104 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,258
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Monterey County Equine Inc — 1172 S Main St #376, Salinas, CA 93901
- Romie Lane Pet Hospital — 755 E Romie Ln, Salinas, CA 93901
- Animal Health Center — 92 La Mesa Dr, Salinas, CA 93901
- Lannis Enriques DVM — 755S E Romie Ln, Salinas, CA 93901
- Della-Tone Ahraiyanna DVM — 1261 S Main St # B, Salinas, CA 93901
Frequently Asked Questions
What type of property is this?
Medical Office Space - Functional layouts feature reception areas, private offices, and supporting workspaces for medical operations.
Where is this medical office space located?
The property is located at 47-51 E Romie Ln Salinas, CA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,500 square feet of medical office space; Reception areas, private offices, and support spaces; Five private parking spaces per building
