Two-Building Medical Office
For Sale
Contact for pricing
47 E Romie Lane, Salinas, CA 93901
Two separate commercial buildings support medical, office, and personal-service uses with private parking behind each structure.
Property Size2,500 SF
Price / SF$320
Days on Market19
Property Features for 47 E Romie Lane
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
10
Property subtype
Office
Zoning
CO/R - Commercial Residential
Building Details
Year Built
1928
Buildings
2
Tenancy
Single
Listing Agency:
Mahoney & Associates
(408) 726-5885
Listed By:
Ian Jones · License #CA DRE: 02165792
Source:
Crexi
Added: Aug 4
Changed: Aug 21
Last Checked: Aug 21 at 9:39PM
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
Investment Insights
Based on property information with market context.
This 2,500 SF commercial property includes two separate buildings at 47 and 51 E. Romie Lane. The building at 47 E. Romie Lane was previously configured as a beauty salon and can accommodate personal-service, office, or medical-related uses. The building at 51 E. Romie Lane is occupied by a medical office under a month-to-month lease.
Both structures share a driveway and have dedicated private parking behind the individual buildings. The property is zoned CO/R - Commercial Residential and was built in 1928. Its Salinas address places the asset within an established commercial setting while retaining flexibility between owner occupancy, continued medical use, and other supported configurations.
Both structures share a driveway and have dedicated private parking behind the individual buildings. The property is zoned CO/R - Commercial Residential and was built in 1928. Its Salinas address places the asset within an established commercial setting while retaining flexibility between owner occupancy, continued medical use, and other supported configurations.
Key Highlights
- Two separate commercial buildings at 47 and 51 E. Romie Lane
- 2,500 SF property built in 1928
- 51 E. Romie Lane is occupied by a medical office on a month‑to‑month lease
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
Property Profile
Current Use
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
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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 - Two separate commercial buildings support medical, office, and personal-service uses with private parking behind each structure.
Where is this medical office space located?
The property is located at 47 E Romie Lane 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: Two separate commercial buildings at 47 and 51 E. Romie Lane; 2,500 SF property built in 1928; 51 E. Romie Lane is occupied by a medical office on a month‑to‑month lease
