1900 Main St Salinas, CA 93906-2034

This exceptional investment opportunity presents the Santa Rita Plaza, a 125,296 square foot Class B shopping center in Salinas, California. Located at a high-traffic intersection (North Main & Boronda Roads) with over 58,000 vehicles daily, this property boasts a strong tenant roster including national and regional credits such as FoodMaxx, Buffalo Wild Wings, Starbucks, Verizon, H&R Block, Vitamin Shoppe, Great Clips, and State Farm Insurance. Over 76% of the gross leasable area (GLA) is occupied by these high-credit tenants, contributing to a current occupancy rate of 94%. The property features five single-story buildings situated on a 10.56-acre lot, built in 1991. Currently generating a Net Operating Income (NOI) of $1,548,571, representing an 8.00% capitalization rate, this Core+ investment offers significant upside potential. Projected NOI growth exceeds $531,000 (34%) over a 10-year hold, driven by embedded rent increases and market rate lease renewals. The property is offered on a long-term ground lease with over 60.5 years remaining (if all options are exercised), presenting a compelling long-term investment opportunity. The asking price is $19,357,000, translating to a price per square foot of $154.49. The property's APN is 253-171-002. This grocery-anchored center is strategically positioned to benefit from the strong demographics and high traffic counts of this prime Salinas location.