
Salinas, California 93901
This Strategic Mixed-Use Asset is listed at $650,000, reflecting its prime location and significant redevelopment potential despite a $598,231 Fair Market Value. With a Condition Rating of 5, the 1917 structure requires modernization, yet offers immediate usability within the downtown Salinas core. The property’s primary value lies in its Prime Mixed-Use Zoning and the rare Strategic Assemblage Potential with the adjacent parcel. This opportunity is specifically positioned for Developers or Buy-and-Hold Investors seeking to capitalize on long-term urban growth and design flexibility.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 220 Pajaro Street Subject | $650,000* List Price | 3 | 2 | 1,538 | $389 | - |
A 194 Riker Terrace Sold | $810,000 | 3 | 2 | 1,604 | $505 | 0.5 mi |
B 19 West Street Sold | $690,000 | 3 | 2 | 1,348 | $512 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1917, the property exhibits significant aging infrastructure and deferred maintenance. The exterior image shows visible wear on the roof, and the listing description explicitly notes the need for substantial capital investment for modernizing systems and structural repairs. While currently functional, its primary value is positioned in its redevelopment potential and mixed-use zoning rather than its current condition.
Located in the core of downtown Salinas, the property offers flexible zoning for retail, office, or live/work configurations, providing diverse options for investors and owner-users.
The rare opportunity to purchase the adjacent parcel at 214 Pajaro Street allows for a larger development site, significantly enhancing scale and long-term value.
With existing improvements and functional space, the property can generate immediate income or be occupied while planning for future repositioning or redevelopment.
Built in 1917, the property may require substantial capital investment for modernizing systems and structural repairs to meet contemporary commercial or residential standards.
Realizing the property's full potential as a mixed-use or redeveloped site requires navigating municipal verification and potentially complex permitting processes.
Rare opportunity to acquire 220 Pajaro Street, an improved mixed-use property in the core of Salinas, offering immediate usability with flexible configurations for owner-users or investors. The property benefits from a prime downtown location with strong visibility and favorable mixed-use zoning, supporting a variety of uses including retail, office, residential over commercial, or live/work configurations (buyer to verify). The existing improvements provide functional space for occupancy or income, while also offering repositioning and redevelopment potential over time. A unique opportunity exists to assemble with the adjacent parcel at 214 Pajaro Street, which is also available for purchase. Combining 214 & 220 Pajaro creates a larger, more efficient development site enhancing scale, design flexibility, and long-term value potential. Assemblage opportunities in the downtown corridor are limited and difficult to replicate. 220 Pajaro is well-suited for investors, developers, or owner-users seeking an income-producing asset with additional upside potential. Pricing: Property is priced with consideration to its location, existing improvements, income potential, and assemblage value. Seller will prioritize qualified buyers with strong financial capacity and clean terms.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,538 | 1,593 | 47% |
| Lot Size | 6,206 | 6,500 | 32% |
| Price | $650.0K | $805.0K | 5% |
| Price per sq ft | $423 | $506 | 21% |
| Built year | 1917 | 1962 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 149 | 5% |
Mar 12, 2026
$650,000
Initial Listing
Dec 30, 2009
$215,000
Public Record