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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1223 Davis Rd Salinas, CA 93907

    • Community centers
    • 67,423 SF
    • 5.61 lot acres
    For Lease
    View listing
    Last Sale
    Dec 16, 2020
    $11,659,000
    Value Estimations
    $13,890,000
    Cap Rate Potential
    8.5%
    Community centers
    Location Intelligence
    Property ID
    US10-3018636
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • DICK'S Sporting Goods / Baseball Goods Store / Clothing Store
    • Save Mart / Grocery Store
    • Coinstar / Money Transfer Service / Vending Machine Supplier

    Property Details for 1223 Davis Rd

    Year built
    1998
    Construction
    TILT-UP CONCRETE
    Lot size
    5.61 lot acres
    Property size
    67,423 SF
    Property type
    Community centers
    APN
    261-145-034-000
    APU
    261145034000

    Description

    Westridge Shopping Center, located at 1223 North Davis Road in Salinas, California (zip code 93907), presents a significant retail opportunity. This strip center offers a substantial 16,500 square feet of vacant space, ideal for a variety of retail uses. Situated in Monterey County, the property benefits from its location in the thriving city of Salinas. The precise total building square footage is currently unavailable. The property is categorized as a multi-tenant retail space, providing flexibility for potential tenants. This prime location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking to establish or expand their presence in the Salinas market. The coordinates for the property are latitude 36.7005954 and longitude -121.6687644. Interested parties are encouraged to inquire for further details and to explore the possibilities this exceptional retail space offers. This is a rare opportunity to secure a significant footprint in a desirable Salinas location. The available space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,900,000
      ML approach
      $11,195,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,255,000
      6.5%
      $16,850,000
      7%
      $15,645,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $12,520,000
      AUTO REPAIR, GARAGE
      $11,350,000
      OFFICE BUILDING
      $10,210,000
      RESTAURANT
      $9,200,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salinas
    County
    Monterey
    State
    California
    Longitude
    -121.669
    Latitude
    36.7002
    CBSA code
    41500
    CBSA name
    SALINAS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $140,100
    $3,121,200
    $9,008,433
    $12,129,633
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      1.14 Acres

      1475 Davis Rd

      MINI-MALL • 1.14 Acres
      1475 Davis Rd, Salinas, CA 93907-1994
      View Details
    • Value Estimation
      $1,155,000
      36,358 SF

      Salinas, CA 93907

      MINI-MALL • 36,358 SF
      Salinas, CA 93907
      View Details
    • Value Estimation
      $380,000
      16,000 SF

      1125 Westridge Pkwy

      MINI-MALL • 16,000 SF
      1125 Westridge Pkwy, Salinas, CA 93907-2529
      View Details
    • Value Estimation by Request
      0.52 Acres

      Salinas, CA 93907

      MINI-MALL • 0.52 Acres
      Salinas, CA 93907
      View Details
    • Value Estimation
      $560,000
      10,350 SF

      1247 Davis Rd

      MINI-MALL • 10,350 SF
      1247 Davis Rd, Salinas, CA 93907-1997
      View Details
    • Value Estimation by Request
      14.60 Acres

      7901 San Miguel Cyn Rd, Unit 8903

      MINI-MALL • 14.60 Acres
      7901 San Miguel Cyn Rd, Salinas, CA 93907-1218
      View Details

    Similar Nearby for Sale

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      Retail and Office Investment Opportunity

      Retail/office property with national, regional, and local tenants.
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    • $3,944,457
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      Centrally located retail property with robust tenant sales.
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    • $150,000

      Restaurant Opportunity in Prunedale, CA

      Restaurant with equipment included, located in Prune Tree Shopping Center.
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      Land Available For Sale

      Land available for sale in Salinas, California.
      18221 Berta Canyon Rd, Salinas, CA 93907
      View Details
    • $10,500,000

      Land Available in Salinas, CA

      Land for sale on CA-156, Salinas, CA 93907
      Ca-156, Salinas, CA 93907
      View Details
    • $9,450,000
      262.00 Acres

      Prime Salinas Valley Ranch - 262 Acres

      Organic Farmland, Development Potential, High-Yield Wells
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,500 SF

      Westridge Shopping Center: Salinas Retail Space

      Prime Salinas retail space, 16,500 sq ft available.
      1223 Davis Rd, Salinas, CA 93907
      View Details
    • $20 SF/Yr
      38,542 SF

      Retail Space Available For Lease

      Retail property available for lease in Salinas, California.
      1067 N Davis Rd, Salinas, CA 93907
      View Details
    • Contact for pricing
      16,500 SF

      Retail Space in Salinas

      Retail property available for lease in Salinas, California.
      1223-1271 N Davis Rd, Salinas, CA 93907
      View Details
    • $0.85 SF/Yr
      17,500 SF

      Salinas Warehouse with On-Site Parking

      Warehouse space featuring 18 ft. ceilings and roll-up doors.
      200 Castroville Rd, Salinas, CA 93907
      View Details
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    1223 Davis Rd
    Salinas, CA 93907
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    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
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