Three Square | 344 Salinas St
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Three Square 344 Salinas St
27,660 SF 100% Leased Office Building Salinas, CA 93901 $5,250,000 ($190/SF)
Investment Highlights
- Multi-tenant leased investment
- Abundant onsite & offsite parking
- 2nd Floor is occupied by Anchor Tenant
- Located in Downtown Salinas
- ADA Compliant Restrooms & Elevator
- Excellent investment opportunity
Executive Summary
SELLER FINANCING AVAILABLE!
Mahoney and Associates is please to present to the market 344 Salinas St, a two-story commercial office property located in downtown Salinas, CA.
PROPERTY HIGHLIGHTS
• 100% Lease Investment
• Low historical vacancy
• Supply Constrained office market
• Large open area and conference room
• Value-Add: ability to increase rents, convert to NNN leases, and other strategic improvements
• Diverse Tenant Mix
• City of Salinas Office Vacancy under 5%
• 74 onsite parking spaces; City of Salinas parking garage adjacent
• Largest tenant is the County of Monterey
Mahoney and Associates is please to present to the market 344 Salinas St, a two-story commercial office property located in downtown Salinas, CA.
PROPERTY HIGHLIGHTS
• 100% Lease Investment
• Low historical vacancy
• Supply Constrained office market
• Large open area and conference room
• Value-Add: ability to increase rents, convert to NNN leases, and other strategic improvements
• Diverse Tenant Mix
• City of Salinas Office Vacancy under 5%
• 74 onsite parking spaces; City of Salinas parking garage adjacent
• Largest tenant is the County of Monterey
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
Office
Building Size
27,660 SF
Building Class
C
Year Built
1976
Price
$5,250,000
Price Per SF
$190
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
13,830 SF
Slab To Slab
9’
Building FAR
2.24
Land Acres
0.28 AC
Opportunity Zone
Yes
Zoning
Commercial Office - Commercial Office
Parking
74 Spaces (2.68 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Bus Line
- Central Heating
- Fully Carpeted
- Direct Elevator Exposure
- Natural Light
- Drop Ceiling
- Air Conditioning
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Walk Score ®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 002-345-016-000 | Total Assessment | $3,836,809 |
| Land Assessment | $770,751 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,066,058 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
002-345-016-000
Land Assessment
$770,751
Improvements Assessment
$3,066,058
Total Assessment
$3,836,809
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
-
Ian Jones -
Power Broker Chris Tonini -
Mahoney & Associates
(831) 646-1919
x109
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Three Square | 344 Salinas St
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