Bought with Patrick Stafford • Baird Partnership, Inc.
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Key Details
Sold Price $5,800,000
Property Type Commercial
Sub Type Warehouse
Listing Status Sold
Purchase Type For Sale
Square Footage 41,070 sqft
Price per Sqft $141
MLS Listing ID ML81991598
Year Built 1972
Lot Size 2.090 Acres
Property Sub-Type Warehouse
Property Description
557 & 561 Brunken is a large multi-tenant industrial building consisting of approximately 41,070 square feet of industrial/warehouse space on a 2.09 acre lot in the heart of Salinas' industrial district. Zoned Industrial-General (IG) and currently divided into 18 suites occupied by 13 tenants, this property is primed for value-add strategies to maximize net operating income and increase market value for years to come. Units range from 1,000 to 8,325 square feet with a mix of tenant uses. All tenants are currently paying below market rents under lease agreements that expire at the end of March 2025. These types of large industrial properties rarely hit the open market and provide an opportunity that should not be missed.
Location
State CA
County Monterey
Area Industrial
Building/Complex Name 557 & 561 Brunken Ave
Zoning IG
Interior
Heating Gas
Cooling None
Exterior
Parking Features Common Parking Area, Parking Area
Utilities Available Public Utilities
Roof Type Metal
Building
Foundation Concrete Slab
Sewer Sewer Connected
Water Public
Others
Special Listing Condition Not Applicable
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