245 Rossi St, Unit 101 Salinas, CA 93907
Property profile & analytics
245 Rossi St, Unit 101, Salinas, CA 93907
- Industrial land
- 3.91 lot acres
Property ID
US09-3091811
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.
Location Intelligence
Current Use by Public Records
- Industrial land
Property Details for 245 Rossi St
- Lot size
- 3.91 lot acres
- Property type
- Industrial land
- APN
- 003-161-014-000
- APU
- 3161014000
Description
This exceptional investment opportunity presents a newly constructed, 11,469-square-foot Frito-Lay distribution facility situated on a 3.3-acre lot in Salinas, California. The property boasts a brand-new, 10-year net lease with Frito-Lay, a subsidiary of PepsiCo, Inc., featuring a robust 2% annual rent increase. The lease commenced November 14, 2024, and expires November 29, 2034, ensuring long-term, stable income. The facility includes 11 dock-high doors and ample parking (39 spaces). This Class A building is strategically located adjacent to downtown Salinas and US Highway 101, providing easy access to major transportation arteries connecting the San Francisco Bay Area and Los Angeles. The property benefits from a high barrier to entry market, surrounded by other prominent industrial tenants including Coca-Cola, United Rentals, and FedEx. The strong local demographics, with over 496,900 people and an average household income exceeding $128,975 within a 20-mile radius, further enhance the investment's appeal. The substantial 3.3-acre lot allows for potential future expansion. The property offers a 6.25% cap rate and a net operating income (NOI) of $531,418, making it an attractive addition to any portfolio. The lease includes two 5-year renewal options and a corporate guarantee from Frito-Lay, minimizing risk. The tenant is responsible for the maintenance of the parking lot, driveways, hard-surfaced areas, mechanical and utility systems, and roof membrane. This is a rare opportunity to acquire a high-quality, income-producing asset in a thriving market with a blue-chip tenant. The asking price is $8,502,688.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,465,000
- ML approach
- $1,495,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Salinas
- County
- Monterey
- State
- California
- Longitude
- -121.658
- Latitude
- 36.6821
- 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
$18,611
$1,625,000
$0.00
$1,625,000
-
$0.00
$0.00
$0.00
