Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1185-1187 Laurel Dr Salinas, CA 93906
    Back to Search
    Property profile & analytics

    1185-1187 Laurel Dr Salinas, CA 93906

    View on Map
    • Lifestyle centers
    • 44,488 SF
    • 2.81 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1185-1187 Laurel Dr

    Year built
    1972
    Lot size
    2.81 lot acres
    Property size
    44,488 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Laurel Plaza Shopping Center, a 44,488 square foot property located at 1185-1187 N Main St & 21 W Laurel Dr in Salinas, CA, presents a compelling investment opportunity. This fee-simple ownership includes three parcels totaling approximately 2.81 acres (APN: 003-271-030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salinas
    County
    Monterey
    State
    California
    Longitude
    -121.653
    Latitude
    36.6983

    Comparable in this City

    • Value Estimation by Request
      1,500 SF

      1332 Natividad Rd

      Medical Office Space • 1,500 SF
      1332 Natividad Rd, Salinas, CA 93906
      View Details
    • Value Estimation
      $550,000
      10.19 Acres

      1700 Main St

      MINI-MALL • 10.19 Acres
      1700 Main St, Salinas, CA 93906
      View Details
    • Value Estimation by Request
      6,412 SF

      1007 Main St, Unit 63

      MINI-MALL • 6,412 SF
      1007 Main St, Salinas, CA 93906-3808
      View Details
    • Value Estimation
      $46,940,000
      3.30 Acres

      796 Northridge Shopping Ctr

      MINI-MALL • 3.30 Acres
      796 Northridge Shopping Ctr, Salinas, CA 93906-2015
      View Details
    • Value Estimation by Request
      3.25 Acres

      1403 Main St

      MINI-MALL • 3.25 Acres
      1403 Main St, Salinas, CA 93906-2403
      View Details
    • Value Estimation by Request
      3.66 Acres

      905 Main St

      MINI-MALL • 3.66 Acres
      905 Main St, Salinas, CA 93906-3912
      View Details

    Similar Nearby for Sale

    • $3,799,000

      Salinas Retail/Office Investment Opportunity

      Strip retail and office investment opportunity in Salinas, California.
      1285 N Main St, Salinas, CA 93906
      View Details
    • $380,000

      Prime Commercial Lot in Salinas

      High-traffic, high-visibility .25-acre commercial lot suitable for various business ventures.
      730 N Main St, Salinas, CA 93906
      View Details
    • $3,690,000

      Salinas Townhouse-Style Apartment Building

      Twelve townhouse-style units near retail and Highway 101.
      109 San Juan Grade Rd, Salinas, CA 93906
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      Medical Office Space Available

      Corner unit in established medical complex, ready for immediate occupancy.
      1326 Natividad Rd, Salinas, CA 93906
      View Details
    • $13 SF/Yr
      136,712 SF

      Northridge Mall Retail Space Available

      High-visibility Salinas retail space, ample parking.
      1700 Main St, Salinas, CA 93906
      View Details
    • Contact for pricing
      1,980 SF

      Retail Space in Salinas Center

      Corner retail space available in a busy shopping center.
      901 N Main St, Salinas, CA 93906
      View Details
    • $2 SF/Yr
      2,733 SF

      Retail Space in Salinas Plaza

      Office space convertible to retail/restaurant in a shopping center.
      2027-2039 N Main St, Salinas, CA 93906
      View Details
    • Contact for pricing
      7,038 SF

      Retail Space in Sherwood Gardens

      Retail space available in the Sherwood Gardens Shopping Center.
      1007-1045 N Main St, Salinas, CA 93906
      View Details
    • Contact for pricing
      3,415 SF

      Salinas Commercial Office Building

      Commercial office building in Salinas, California available for lease.
      1191 N Main St, Salinas, CA 93906
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1185-1187 Laurel Dr
    Salinas, CA 93906
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1185-1187 Laurel Dr, Salinas, CA, 93906
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!