Development Parcel - Salinas, CA

NW Corner of Monterey Street & John Street
Salinas, CA 93901

Marketing Materials

Overview

Jones Lang LaSalle (“JLL”), is pleased to offer for sale a development parcel of land (the “Property” or “Asset”) located on the northwest corner of Monterey Street and John Street in Salinas, California. The Property is positioned on a hard corner in downtown Salinas, in close proximity to various retail and government buildings. Assigned to the MX – Mixed Use zoning designation within the Downtown Core overlay district, the Property has a broad range of permitted commercial uses and generous development standards.

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Investment Highlights
Beneficial Zoning and Overlay District - The Asset is zoned MX – Mixed Use within the Downtown Core (DC) Overlay District. The MX zoning designation allows for a wide variety of mixed use, office, public and commercial uses that emphasize retail, entertainment and service activities. The DC overlay district supplements the Asset’s MX zoning designation by allowing for a wider variety of uses and development standards.
Prime Retail Position on Hard Corner - Given the Asset’s positioning on the hard corner of Monterey Street and John Street, the Asset benefits from great visibility as well as ingress and egress from both streets. The Asset will serve as a strong location for countless retail opportunities.
Downtown Salinas Location - The Asset is located in downtown Salinas and benefits from the traffic generated by surrounding retailers, employers and institutions. Salinas High School, Monterey County Superior Court, Salinas Police Department and Main Street are all less than half a mile away from the Asset.
Attractive Demographics & Large Consumer Base - Salinas is the largest municipality in Monterey County by population. With over 120,000 residents within a three-mile radius, the Asset benefits from a large consumer base.
General
Property Type Land
Property Address NW Corner of Monterey Street & John Street
Salinas, CA 93901
Land In Acres 0.38
Primary Use None
Financial
Price $700,000
Cap Rate Confidential
Current NOI Confidential
Lease
Remaining Term Confidential