Two-Story Office
For Sale
$499,000
2850 E Street, Eureka, CA 95501
COMMERCIAL - Eureka, CA
Property Size2,940 SF
Lot Size0.13 Acres
Price / SF$169.73
Days on Market94
Property Features for 2850 E Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Single Family
Parking
4
Parking features
Garage, Offsite
Interior features
Handicap Access, Handicap Restroom
Accessibility
Accessible Approach with Ramp
Directions
E Street before Grotto in Henderson Center
Subdivision
South Bay
Standard status
Active
Size
2,940 SF
Lot size
0.13 Acres
Building Details
Floors in Building
2
Flooring type
Vinyl, Carpet, Wood
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
Community Realty-Arcata
(707) 269-2400
Listed By:
Daisy Dalton · License #01305188
(707) 497-4731
Added: May 5
Changed: Aug 4
Last Checked: Aug 6 at 10:06PM
MLS# 272244
Copyright © 2026 Humboldt Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story, 2,940 square foot office building was formerly a home for Community Realty. The property was remodeled so both floors function as office space, with handicapped accessibility already in place. If a buyer wanted to re-convert the layout to residential use, the seller notes it would require adding some walls, closets, and a shower. Pest work has been completed, and the original remodel contractor is willing to provide a bid to support any requested improvements.
The property is located in the Henderson Center area of Eureka. It sits on an approximately 0.13-acre lot and is zoned for both commercial and residential uses under the provided zoning description. An alley provides access to a four-car carport.
For tenants, the building’s current configuration supports office use on both levels. For buyers or operators, the combination of existing office buildout, completed pest work, and the noted ability to convert back toward residential provides options depending on the intended occupancy plan. Alley access and handicapped accessibility further support day-to-day usability for staff and visitors.
The property is located in the Henderson Center area of Eureka. It sits on an approximately 0.13-acre lot and is zoned for both commercial and residential uses under the provided zoning description. An alley provides access to a four-car carport.
For tenants, the building’s current configuration supports office use on both levels. For buyers or operators, the combination of existing office buildout, completed pest work, and the noted ability to convert back toward residential provides options depending on the intended occupancy plan. Alley access and handicapped accessibility further support day-to-day usability for staff and visitors.
Key Highlights
- 2‑story 2,940 sq ft former Community Realty building in Henderson Center
- Zoned commercial and residential; originally office downstairs and apartment upstairs
- Both floors currently converted to office use; would require adding walls, closets, and a shower to return to residential
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$765,860
$765.9K
Cap Rate 7%
$547,043
$547.0K
Cap Rate 9%
$425,478
$425.5K
Market Conditions
NOI Build-Up for 2,940 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.5K $21.60/SF
− Vacancy
−$12.4K −$4.23/SF
EGI
$51.1K $17.37/SF
− OpEx
−$12.8K −$4.34/SF
NOI
$38.3K $13.02/SF
Area
Humboldt County, CA
Vacancy
19.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$765,860
Cap Rate 7%
$547,043
Cap Rate 9%
$425,478
Alternative Uses
Best Use
Office B
$547.0K
$478.7K – $638.2K
NOI $38,293 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.11M
$971.5K – $1.30M
NOI $77,719 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 95501, CA
23,323
Population
10,577
Households
2.2
Avg Household Size
38
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
3,195
Density / Sq Mi
$55,076
Median Household Income
$34,476
Median Earnings
$1,151
Median Rent
$389,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with alley access and handicapped accessibility, offering flexibility for office or potential residential conversion.
Where is this office building located?
The property is located at 2850 E Street Eureka, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2‑story 2,940 sq ft former Community Realty building in Henderson Center; Zoned commercial and residential; originally office downstairs and apartment upstairs; Both floors currently converted to office use; would require adding walls, closets, and a shower to return to residential
