Humboldt Bay Frontage
For Sale
$1,750,000
1901 Buhne Dr, Eureka, CA 95503
Commercial property with restaurant, workshop, dock, and parking.
Property Size5,200 SF
Lot Size0.99 Acres
Price / SF$336.54
Days on Market351
Property Features for 1901 Buhne Dr
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.99 Acres
Listing Agency:
Ming Tree, Inc.
(707) 599-9111
Listed By:
Kim Brown · License #01366476
(707) 599-9111
Source:
Exprealty
Added: Sep 15, 2025
Changed: Aug 25
Last Checked: Aug 30 at 7:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ming Tree, Inc.
Investment Insights
Based on property information with market context.
This commercial property, located just outside of Eureka, California, at Buhne Point, offers frontage on Humboldt South Bay. The property is zoned CR - Commercial Recreation and currently houses Gills by the Bay, a family-owned restaurant operating for almost 30 years. The total building space is over 5200 square feet and includes the restaurant facility, a workshop, and several storage rooms. A dock and floating dock are included, featuring a crab cooking station and a kiosk for crab sales. The paved and striped parking lot accommodates 62 or more vehicles. The restaurant business opportunity is available for sale or lease separately.
Key Highlights
- Prime Humboldt South Bay frontage location.
- Zoned CR - Commercial Recreation, offering diverse business opportunities.
- Substantial 5200+ square feet of building space.
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
$130,137
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
7.44%
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%
$2,602,740
$2.6M
Cap Rate 7%
$1,859,100
$1.9M
Cap Rate 9%
$1,445,967
$1.4M
Market Conditions
NOI Build-Up for 5,200 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
$193.4K $37.20/SF
− Vacancy
−$19.9K −$3.83/SF
EGI
$173.5K $33.37/SF
− OpEx
−$43.4K −$8.34/SF
NOI
$130.1K $25.03/SF
Area
Humboldt County, CA
Vacancy
10.30%
Lease Rate
$37.20 /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%
$2,602,740
Cap Rate 7%
$1,859,100
Cap Rate 9%
$1,445,967
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,137 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.96M
$1.72M – $2.29M
NOI $137,462 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95503, CA
24,488
Population
10,738
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
83.7 sq mi
ZIP Area
293
Density / Sq Mi
$76,708
Median Household Income
$36,822
Median Earnings
$1,485
Median Rent
$411,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial property with restaurant, workshop, dock, and parking.
Where is this conventional restaurant located?
The property is located at 1901 Buhne Dr Eureka, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime Humboldt South Bay frontage location.; Zoned CR - Commercial Recreation, offering diverse business opportunities.; Substantial 5200+ square feet of building space.
