New
For Sale
$769,000
129 Lower Pacific Drive, Shelter Cove, CA 95589
COMMERCIAL - Shelter Cove, CA
Property Size2,592 SF
Lot Size0.14 Acres
Price / SF$296.68
Days on Market2
Property Features for 129 Lower Pacific Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
8
Directions
Use GPS.
Subdivision
South County
Standard status
Active
Size
2,592 SF
Lot size
0.14 Acres
Building Details
Floors in Building
2
Roof type
Shingle
Listing Agency:
EXP Realty of California, Inc.
(888) 584-9427
Listed By:
David Campagna · License #02001073
(707) 849-4638
Added: Aug 10
Last Checked: Aug 11 at 10:06AM
MLS# 273094
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.
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
$26,244
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
3.41%
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%
$524,880
$524.9K
Cap Rate 7%
$374,914
$374.9K
Cap Rate 9%
$291,600
$291.6K
Market Conditions
NOI Build-Up for 2,592 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
$46.7K $18.00/SF
− Vacancy
−$4.7K −$1.80/SF
EGI
$42.0K $16.20/SF
− OpEx
−$15.7K −$6.07/SF
NOI
$26.2K $10.13/SF
Area
Humboldt County, CA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$524,880
Cap Rate 7%
$374,914
Cap Rate 9%
$291,600
Alternative Uses
Best Use
Mixed Use
$374.9K
$328.1K – $437.4K
NOI $26,244 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$978.8K
$856.5K – $1.14M
NOI $68,519 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 95589, CA
1,648
Population
1,159
Households
1.4
Avg Household Size
49
Median Age
13%
College-Educated
88%
High-School Grad
152.8 sq mi
ZIP Area
11
Density / Sq Mi
$45,074
Median Household Income
$26,667
Median Earnings
$1,164
Median Rent
$439,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 129 Lower Pacific Drive Shelter Cove, CA.
What is the asking price?
The asking price for this property is $769,000.
