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    241 Main St Salinas, CA 93901

    Sponsored
    For Sale
    $4,500,000

    Iconic Theatre, Business & Building Included

    Property size:
    9,767 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Embrace a rare opportunity to acquire the historic Fox Theatre, a thriving Class A business and building located at 241 Main St, Salinas, CA 93901. This 9,767 sq ft property, situated on a 10,890 sq ft lot, boasts a rich history and significant potential. Built in 1921 and meticulously maintained, the theatre features updated electrical and plumbing systems, a recently repaired roof, and has undergone earthquake retrofitting. The sale includes all fixtures, furniture, and equipment (FF&E), a Type 47 liquor license (with Type 58 caterer's endorsement), and the established business, complete with bookings extending into 2025. The property is zoned MX - Mixed Use, offering versatile possibilities. With only 2 parking spaces on-site, potential buyers should consider the parking needs of the business. Financial details for the business are available upon signing a non-disclosure agreement (NDA). Located just steps from the Taylor Farms Headquarters and central to Salinas' downtown revitalization plan, this acquisition presents a unique blend of historical preservation and significant business growth potential, making it an exceptional investment opportunity. The property's APN is 002-234-031. The building consists of three units. The asking price is $4,500,000.

    Property Features for 241 Main St

    General Information

    Property type
    Theaters & concert halls
    Square Feet
    9,767 SF
    Class
    A

    Building Details

    Year Built
    1921
    Units
    3

    HighLights

    • $4,500,000 asking price for a Class A, 9,767 sq ft business and building.
    • Historic Fox Theatre in Salinas, CA, includes building, FF&E, Type 47 liquor license with Type 58 caterer's endorsement, and established business with bookings through 2025.
    • Located at 241 Main St., Salinas, CA 93901, on a 10,890 sq ft lot with 2 parking spaces.
    • Property features updated electrical, plumbing, roof, and earthquake retrofitting; zoned MX - Mixed Use.
    • Three units, built in 1921, APN 002‑234‑031.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fox Theater Performing Arts Theater

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salinas
    County
    Monterey
    State
    California
    Longitude
    -121.65507711161
    Latitude
    36.67467265233

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    FAQs

    What type of property is this?
    Theater & concert hall - Iconic Theatre, Business & Building Included
    Where is this theater & concert hall located?
    The property is located at 241 Main St Salinas, CA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: $4,500,000 asking price for a Class A, 9,767 sq ft business and building.; Historic Fox Theatre in Salinas, CA, includes building, FF&E, Type 47 liquor license with Type 58 caterer's endorsement, and established business with bookings through 2025.; Located at 241 Main St., Salinas, CA 93901, on a 10,890 sq ft lot with 2 parking spaces.
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    Salinas, CA 93901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    241 Main St Salinas, CA 93901
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