Office Building with
For Sale
$2,300,000
1585 Heartwood Drive, McKinleyville, CA 95519
Commercial Sale, McKinleyville, CA
Property Size13,264 SF
Lot Size1.19 Acres
Price / SF$173.40
Days on Market92
Property Features for 1585 Heartwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, 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
Vinyl, Laminate
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: Sep 15
Last Checked: Sep 26 at 4:06PM
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.
The 13,264-square-foot office building at 1585 Heartwood Drive sits on 1.19 acres in McKinleyville. Its current configuration provides seven larger office spaces, including one vacant space available for immediate occupancy. A 3,792-square-foot atrium forms the building’s central interior feature, with mature plantings and substantial natural light. The property includes fire sprinklers, a security system, handicap-accessible facilities, and an approach ramp. Laminate and vinyl flooring are installed throughout, with shingle roofing and three bathrooms.
The building is occupied by a mix of established professional and service-oriented tenants, including Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons. Commercial zoning supports the property’s office use, while the existing layout accommodates both occupied suites and additional space for an incoming user.
The building is occupied by a mix of established professional and service-oriented tenants, including Wild Planet, Life Plan Humboldt, Brenda Rosdahl CPA, Tensor I.T., Kurt Wright Barbershop, and Humboldt Commons. Commercial zoning supports the property’s office use, while the existing layout accommodates both occupied suites and additional space for an incoming user.
Key Highlights
- 13,264 square feet of office building area on 1.19 acres
- 3,792 sq. ft. atrium with mature plants and abundant natural light
- Current layout includes 7 larger office spaces
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
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Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
541
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Seven-office configuration with one vacant space, commercial zoning, and accessible entry features.
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: 13,264 square feet of office building area on 1.19 acres; 3,792 sq. ft. atrium with mature plants and abundant natural light; Current layout includes 7 larger office spaces
