21 W Laurel DR Save Request In-Person Tour Request Virtual Tour
Salinas,CA 93906
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 44,488 sqft
Price per Sqft $141
MLS Listing ID ML81985157
Year Built 1974
Annual Tax Amount $74,210
Lot Size 2.811 Acres
Property Description
Mahoney and Associates, as exclusive advisor, is excited to present to the market the opportunity to purchase the Laurel Plaza Shopping Center (Laurel Plaza or the Property) in Salinas, California. Located at the signalized intersection of North Main and West Laurel, the Property includes three legal parcels and approximately 44,488 square feet of building. Built in 1972, the property has been zoned Commercial Office, but is in the process of being rezoned as part of a City of Salinas General Plan Amendment to Mixed Use (MX), which would allow retail uses at the Property. Laurel Plaza includes 60 leasable spaces, with 13 current vacancies and 18 month-to-month leases. This opportunity provides buyers the chance to implement their lease templates and raise rents to market rates immediately on over 50% of the spaces. Current uses include professional office, dental/medical, and personal services.
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning Commercial Office/ *MX
Interior
Heating Central
Cooling Central Air
Exterior
Roof Type Tar/Gravel
Building
Story 2
Others
Acceptable Financing FHA
Listing Terms FHA