Two-Building Industrial Flex
For Sale
$3,300,300
2029 Broadway, Eureka, CA 95501
Industrial flex and warehouse complex with paved parking and major Highway 101 frontage for high-visibility operations.
Property Size22,000 SF
Price / SF$150.01
Days on Market249
Property Features for 2029 Broadway
General Information
Standard status
Active
Size
22,000 SF
Property subtype
Commercial
Amenities
Concrete Flooring
Natural Gas Heating
Listing Agency:
MING TREE, INC.
(707) 445-4500
Listed By:
LARRY O. DOSS · License #01196417
(707) 599-3332
Source:
Corcoran
Added: Jan 6
Changed: Sep 11
Last Checked: Sep 12 at 7:54AM
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 for-sale commercial industrial/flex complex consists of two buildings totaling more than 22,000 square feet on 1.59 acres. The main building is over 10,000 square feet and includes an attached 5,600-square-foot metal warehouse. The main building also provides 400-amp, three-phase power. A separate 5,600-square-foot metal building is available and is currently configured with multiple tenants, supported by shared paved parking.
The property sits in town along State Highway 101 and includes 293 feet of frontage on Broadway. It’s positioned on a corner lot at a lighted intersection, supporting straightforward vehicular access. Public remarks note approximately 40,000 views or more with daily vehicle traffic, reflecting strong exposure for businesses that benefit from visibility.
With two structures and on-site parking, this asset can work for buyers looking for a larger industrial/flex platform with existing tenant occupancy in one building and flexible operational space in the other. The combination of warehouse improvements and substantial electrical service may support a range of light industrial and distribution-oriented uses, while the highway frontage can help drive consumer and contractor awareness for day-to-day operations.
The property sits in town along State Highway 101 and includes 293 feet of frontage on Broadway. It’s positioned on a corner lot at a lighted intersection, supporting straightforward vehicular access. Public remarks note approximately 40,000 views or more with daily vehicle traffic, reflecting strong exposure for businesses that benefit from visibility.
With two structures and on-site parking, this asset can work for buyers looking for a larger industrial/flex platform with existing tenant occupancy in one building and flexible operational space in the other. The combination of warehouse improvements and substantial electrical service may support a range of light industrial and distribution-oriented uses, while the highway frontage can help drive consumer and contractor awareness for day-to-day operations.
Key Highlights
- 1.59‑acre corner lot in town along State Highway 101 with 293 ft of Highway 101 / Broadway frontage
- Main building is 10,000+ SF and includes an attached 5,600 SF metal warehouse
- Main building has 400A / 3‑phase power
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
$155,846
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
4.72%
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%
$3,116,920
$3.1M
Cap Rate 7%
$2,226,371
$2.2M
Cap Rate 9%
$1,731,622
$1.7M
Market Conditions
NOI Build-Up for 22,000 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
$198.0K $9.00/SF
− Vacancy
−$14.7K −$0.67/SF
EGI
$183.3K $8.33/SF
− OpEx
−$27.5K −$1.25/SF
NOI
$155.8K $7.08/SF
Area
Humboldt County, CA
Vacancy
7.40%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$3,116,920
Cap Rate 7%
$2,226,371
Cap Rate 9%
$1,731,622
Alternative Uses
Best Use
Flex RnD
$8.31M
$7.27M – $9.69M
NOI $581,570 @ 7.0% cap · market cap 17.62%
Second Best
Warehouse
$2.23M
$1.95M – $2.60M
NOI $155,846 @ 7.0% cap · market cap 4.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex and warehouse complex with paved parking and major Highway 101 frontage for high-visibility operations.
Where is this flex space located?
The property is located at 2029 Broadway Eureka, CA.
What is the asking price?
The asking price for this property is $3,300,300.
What are key features of this property?
This property features: 1.59‑acre corner lot in town along State Highway 101 with 293 ft of Highway 101 / Broadway frontage; Main building is 10,000+ SF and includes an attached 5,600 SF metal warehouse; Main building has 400A / 3‑phase power
