1283-1287 N Main St
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1283-1287 N Main St
19,008 SF 100% Leased Retail Building Salinas, CA 93906 £2,930,207 (£154.16/SF) 5.08% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Investors have the opportunity to acquire a well-situated retail and office asset located in North Salinas.
- The subject property is just a 6-minute drive to Oldtown Salinas, home to a myriad of shopping, dining and entertainment options.
- Tenants enjoy a variety of retail/office suites ranging in size from 185 square feet to 1,315 square feet.
- The subject property benefits from its close proximity to multiple transportation corridors including the US 101, CA- 183 and CA-68.
EXECUTIVE SUMMARY
Mission Plaza is a stunning strip retail and office investment opportunity located in the thriving city of Salinas, California.
Situated on two contiguous parcels of land totaling 36,200 square feet, the subject property features a gross rentable area of approximately 19,008* square feet. Mission Plaza offers 33 retail/office suites ranging in size from 185 square feet to 1,315 square feet.
The subject property is within close proximity from Oldtown Salinas home to a myriad of shopping, dining and entertainment options. The neighborhood is known for its historical charm with modern appeal, featuring bustling streets lined with restaurants, boutiques, cafes, and art galleries. Residents of this neighborhood can embrace a welcoming and vibrant community, where diversity thrives and a rich cultural scene flourishes. They can experience the perfect balance between comfort and liveliness, making it a place to truly call home.
Mission Plaza is within close proximity to many transportation corridors including US 101, CA-183 and CA-68. Additionally, the subject property is just a 5-minute drive from the Salinas Rail Station, where there is a proposed extension of the CalTrain line.
The investment appeal of this asset is driven by Salinas' strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Monterey County, Mission Plaza presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
Situated on two contiguous parcels of land totaling 36,200 square feet, the subject property features a gross rentable area of approximately 19,008* square feet. Mission Plaza offers 33 retail/office suites ranging in size from 185 square feet to 1,315 square feet.
The subject property is within close proximity from Oldtown Salinas home to a myriad of shopping, dining and entertainment options. The neighborhood is known for its historical charm with modern appeal, featuring bustling streets lined with restaurants, boutiques, cafes, and art galleries. Residents of this neighborhood can embrace a welcoming and vibrant community, where diversity thrives and a rich cultural scene flourishes. They can experience the perfect balance between comfort and liveliness, making it a place to truly call home.
Mission Plaza is within close proximity to many transportation corridors including US 101, CA-183 and CA-68. Additionally, the subject property is just a 5-minute drive from the Salinas Rail Station, where there is a proposed extension of the CalTrain line.
The investment appeal of this asset is driven by Salinas' strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Monterey County, Mission Plaza presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
19,008 SF
Building Class
C
Year Built
1939
Price
£2,930,207
Price Per SF
£154.16
Net Initial Yield
5.08%
NOI
£148,807
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.53
Lot Size
0.83 AC
Frontage
106 ft on Main St
AMENITIES
- Signage
Walk Score®
Very Walkable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £1,579,047 (2024) | |
| Land Assessment | £661,450 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £917,597 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£661,450 (2024)
Improvements Assessment
£917,597 (2024)
Total Assessment
£1,579,047 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
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1283-1287 N Main St
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