Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 Reservation Rd Marina, CA 93933-3059

    • Community centers
    • 9,113 SF
    OFF-MARKET
    Last Sale
    Jul 13, 2023
    $16,700,000
    Value Estimations
    $15,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2605366
    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

    • Dunecrest Medical Group / Family Practice Physician / Medical Center
    • Monterey Bay Laundry Co. / Laundromat
    • Grinderz / Deli
    • Monterey Bay Taekwondo Academy / Martial Arts School
    • Monterey Bay Homes / Home Builder

    Property Details for 215 Reservation Rd

    Year built
    1965
    Construction
    WOOD
    Property size
    9,113 SF
    Property type
    Community centers
    APN
    032-055-015-000
    APU
    32055015000

    Description

    This exceptional opportunity presents the chance to acquire a well-established and highly profitable Chinese restaurant located at 215 Reservation Road, Marina, CA. Boasting a prime location on a busy commercial street with ample parking, this turn-key operation offers immediate revenue generation. The restaurant features a fully equipped commercial kitchen, comfortable dining area, and all necessary furniture, fixtures, and equipment (FFE). With over a decade of success, Lee's Garden enjoys a loyal customer base and an outstanding reputation built on authentic Chinese cuisine and consistent positive online reviews. Financial records demonstrate strong and consistent profitability, offering excellent profit margins. The 4.55-acre lot provides ample space, and the business presents significant growth potential through expanded delivery services, catering options, or menu updates. This is an ideal acquisition for an experienced restaurateur or a savvy investor seeking a stable and lucrative venture. The asking price is $288,888. Don't miss this chance to own a thriving business in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,920,000
      ML approach
      $10,395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Marina
    County
    Monterey
    State
    California
    Longitude
    -121.798
    Latitude
    36.6877
    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
    $133,667
    $5,151,000
    $6,902,340
    $12,053,340
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $875,000
      26,330 SF

      145 General Stillwell Dr

      MINI-MALL • 26,330 SF
      145 General Stillwell Dr, Marina, CA 93933-6242
      View Details
    • Value Estimation
      $1,800,000
      95,436 SF

      111 General Stillwell Dr

      MINI-MALL • 95,436 SF
      111 General Stillwell Dr, Marina, CA 93933-6242
      View Details
    • Value Estimation by Request
      1,855 SF

      3112 Del Monte Blvd, Unit 3116

      MINI-MALL • 1,855 SF
      3112 Del Monte Blvd, Marina, CA 93933-3049
      View Details
    • Value Estimation by Request
      0.41 Acres

      141 General Stillwell Dr

      MINI-MALL • 0.41 Acres
      141 General Stillwell Dr, Marina, CA 93933-6242
      View Details
    • Value Estimation by Request
      6,000 SF

      226 Reservation Rd

      MINI-MALL • 6,000 SF
      226 Reservation Rd, Marina, CA 93933-3083
      View Details
    • Value Estimation
      $765,000
      30,362 SF

      101 General Stillwell Dr

      MINI-MALL • 30,362 SF
      101 General Stillwell Dr, Marina, CA 93933-6242
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land with Development Potential

      Land available for commercial or residential development.
      150 Beach Rd, Marina, CA 93933
      View Details
    • $129,900

      Mobile Home in Marina Park

      Two-bedroom mobile home with storage shed and yard.
      356 Reservation Rd, Marina, CA 93933
      View Details
    • $595,000
      0.35 Acres

      Marina Microbrewery & Pub for Sale

      Established Craft Brewery, Turnkey Operation
      223 Reindollar Ave, Marina, CA 93933
      View Details
    • $295,000

      Duplex with Updated Kitchen

      Two-bedroom duplex with updated kitchen in a private location.
      347 Carmel Ave, Marina, CA 93933
      View Details
    • Contact for pricing

      Land with Restaurant Development Potential

      Land available with water rights and residential zoning.
      172 Seaside Cir, Marina, CA 93933
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,094 SF

      Marina Medical Office Suites

      Prime Medical Space Available
      106 10Th St, Marina, CA 93933
      View Details
    • Contact for pricing
      5,367 SF

      Marina Medical Office Space for Lease

      Prime Medical Office Suites Available in Marina, CA
      98 General Stilwell Dr, Marina, CA 93933
      View Details
    • $2 SF/Yr
      2,400 SF

      High-Visibility Retail Space Available

      Neighborhood convenience store with high visibility and accessibility.
      320 Reservation Rd, Marina, CA 93933
      View Details
    • $1.95 SF/Yr
      1,350 SF

      Prime Retail Space in Marina

      Spacious retail space in a prime location near CSUMB.
      266 Reservation Rd, Marina, CA 93933
      View Details
    • Contact for pricing
      2,728 SF

      Marina Executive Office Suites

      Prime Marina location, 2,728 sq ft available
      140 10Th St, Marina, CA 93933
      View Details
    • $13 SF/Yr
      27,611 SF

      Marina Industrial Space For Lease

      Versatile Industrial Space, Marina, CA
      711 Neeson Rd, Marina, CA 93933
      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.
    215 Reservation Rd
    Marina, CA 93933-3059
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.