Atrium-Front Office
For Sale
$2,300,000
1585 Heartwood Drive, McKinleyville, CA 95519
COMMERCIAL - McKinleyville, CA
Property Size13,264 SF
Lot Size1.19 Acres
Price / SF$173.40
Days on Market47
Property Features for 1585 Heartwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
57
Security features
Security System
Interior features
Fire Sprinkler, Handicap Access, Handicap Restroom, Security System
Accessibility
Accessible Approach with Ramp
Directions
Heading north on Central from School Rd turn left on Heartwood. Look for second driveway on the right.
Subdivision
North Bay
Standard status
Active
Size
13,264 SF
Lot size
1.19 Acres
Building Details
Floors in Building
1
Flooring type
Laminate, Vinyl
Roof type
Shingle
Listing Agency:
EXP Realty of California, Inc.
(888) 584-9427
Listed By:
Jason Coburn · License #01940430
(707) 834-6321
Added: Jun 27
Changed: Aug 10
Last Checked: Aug 12 at 1:06AM
MLS# 272728
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 centrally located office building is thoughtfully designed with an impressive 3,792-square-foot atrium that includes mature plants and abundant natural light. The building was originally constructed for 10 individual office spaces, and it has since been upgraded and reconfigured into a current layout of 7 larger office spaces. One office space is currently vacant and ready for immediate occupancy.
Current occupants include Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons. The property is situated on a 1.19-acre lot in a commercial-zoned setting.
The property is well suited for an owner-user or investor seeking a professional office building with existing income and flexibility in its current configuration. With a mix of established tenants and an available space for immediate occupancy, it offers a practical option for businesses that want to be part of an operating office environment while utilizing the vacant suite to support their own space requirements.
Current occupants include Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons. The property is situated on a 1.19-acre lot in a commercial-zoned setting.
The property is well suited for an owner-user or investor seeking a professional office building with existing income and flexibility in its current configuration. With a mix of established tenants and an available space for immediate occupancy, it offers a practical option for businesses that want to be part of an operating office environment while utilizing the vacant suite to support their own space requirements.
Key Highlights
- 3,792 SF atrium office building with mature plants and abundant natural light
- Originally designed for 10 individual office spaces; upgraded and reconfigured to 7 larger office spaces
- Current tenants include Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons
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
$172,761
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
7.51%
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%
$3,455,220
$3.5M
Cap Rate 7%
$2,468,014
$2.5M
Cap Rate 9%
$1,919,567
$1.9M
Market Conditions
NOI Build-Up for 13,264 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
$286.5K $21.60/SF
− Vacancy
−$56.2K −$4.23/SF
EGI
$230.3K $17.37/SF
− OpEx
−$57.6K −$4.34/SF
NOI
$172.8K $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%
$3,455,220
Cap Rate 7%
$2,468,014
Cap Rate 9%
$1,919,567
Alternative Uses
Best Use
Office B
$2.47M
$2.16M – $2.88M
NOI $172,761 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$5.01M
$4.38M – $5.84M
NOI $350,634 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 95519, CA
18,421
Population
8,240
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
94%
High-School Grad
53.8 sq mi
ZIP Area
342
Density / Sq Mi
$66,687
Median Household Income
$38,291
Median Earnings
$1,442
Median Rent
$432,600
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 - Well-designed office building featuring a large, plant-filled atrium and a currently vacant office for immediate occupancy.
Where is this office building located?
The property is located at 1585 Heartwood Drive McKinleyville, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 3,792 SF atrium office building with mature plants and abundant natural light; Originally designed for 10 individual office spaces; upgraded and reconfigured to 7 larger office spaces; Current tenants include Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons
