Property profile

254 E Market St Salinas, CA 93901

FOR SALE
Automotive properties
Property ID
US09-0194370
140 SF 0.23 ac lot Built 1966
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 10,000 square foot commercial lot, located at 254 E Market St in Salinas, California (zip code 93901), presents a lucrative investment opportunity. Currently vacant, this property boasts a strategic location east of downtown Salinas, offering convenient access to Highway 101. Previously used as a used car lot, the property is zoned for Mixed Arterial Frontage, allowing for a diverse range of commercial uses. The asking price is $659,000, translating to $65.90 per square foot. The lot's prime location is surrounded by a thriving mix of retail, commercial, and industrial businesses, ensuring high visibility and potential for strong returns. The property's APN is 003-114-004. This is a multi-tenancy property ideal for investors seeking a high-traffic location with significant development potential in a bustling area of Monterey County. The property's proximity to downtown Salinas and Highway 101 provides unparalleled accessibility for both customers and employees. This is a rare opportunity to acquire a well-situated commercial lot in a rapidly growing market. Don't miss out on this chance to capitalize on the vibrant Salinas commercial landscape.

Property profile

Verified
Property type Automotive properties
Use group VEHICLE SALES, RENTALS
Year built 1966
Total area 140 SF
Lot 0.23 ac (10,000 SF)
APN 003-114-004-000
UPID US09-0194370

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Car Dealership
  • Car Dealership

Location

254 E Market St Salinas, CA 93901
Salinas metro Census 14500 SALINAS, CA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$250k

Owner & transaction history

since 2021
7 recorded transactions
2021
Price N/A
2014
Price N/A
2007
$225,000
2007
Price N/A
1998
$140,000
1994
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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