(Across the street from the Courthouse) | 238 Capitol St
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(Across the street from the Courthouse) 238 Capitol St
3,400 SF 100% Leased Office Building Salinas, CA 93901 $975,000 ($287/SF) 6.10% Cap Rate
Investment Highlights
- Newer electrical & plumbing throughout
- Both back units have new Luxury Vinyl Tile, carpet, and granite countertops
- New windows in upstairs unit (#2)
- Sewer line replaced (from front unit to back units)
- New LED lighting throughout all units
Executive Summary
Mahoney & Associates is pleased to present to the market 238 Capitol St. in downtown Salinas. Located directly across the street from the Monterey County Courthouse, the property features a very well maintained ±1,700 SF, 5-bedroom house with basement that has been an office for the past several 10+ years. A separate building on the back half of the lot features two apartments - ±1,150 SF & ±550 SF respectively.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
3,400 SF
Building Class
C
Year Built
1925
Price
$975,000
Price Per SF
$287
Cap Rate
6.10%
NOI
$59,475
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,400 SF
Building FAR
0.52
Lot Size
0.15 AC
Zoning
CO - OFFICE/MIXED-USE
Parking
3 Spaces (0.88 Spaces per 1,000 SF Leased)
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Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 002-262-007-000 | Improvements Assessment | $286,289 (2024) |
| Land Assessment | $150,675 (2024) | Total Assessment | $436,964 (2024) |
PROPERTY TAXES
Parcel Number
002-262-007-000
Land Assessment
$150,675 (2024)
Improvements Assessment
$286,289 (2024)
Total Assessment
$436,964 (2024)
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(Across the street from the Courthouse) | 238 Capitol St
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