Warehouse Property with Highway
For Sale
$3,300,300
2029 Broadway, Eureka, CA 95501
COMMERCIAL - Eureka, CA
Property Size22,000 SF
Lot Size1.49 Acres
Price / SF$150.01
Days on Market213
Property Features for 2029 Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
South Bay
Standard status
Active
Size
22,000 SF
Lot size
1.49 Acres
Building Details
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Membrane, Metal
Listing Agency:
Ming Tree, Inc.
(707) 445-4500
Listed By:
Larry O. Doss · License #01196417
(707) 599-3332
Added: Jan 5
Changed: Aug 4
Last Checked: Aug 6 at 9:06PM
MLS# 271312
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 warehouse property comprises approximately 22,000 square feet across two buildings on a commercial site. The primary building exceeds 10,000 square feet and includes 400-amp, 3-phase power. An attached 5,600-square-foot metal warehouse provides additional industrial space and is occupied by multiple tenants. Concrete flooring, metal siding, and membrane and metal roofing are among the documented improvements.
The property fronts 293 feet along Broadway and State Highway 101 in Eureka, with a corner position at a lighted intersection. Paved parking supports the site, while reported daily vehicle exposure is approximately 40,000 views or more. The combination of warehouse space, electrical capacity, highway frontage, and existing occupancy creates a functional commercial configuration for industrial and warehouse users.
The property fronts 293 feet along Broadway and State Highway 101 in Eureka, with a corner position at a lighted intersection. Paved parking supports the site, while reported daily vehicle exposure is approximately 40,000 views or more. The combination of warehouse space, electrical capacity, highway frontage, and existing occupancy creates a functional commercial configuration for industrial and warehouse users.
Key Highlights
- Approximately 22,000 square feet across two buildings
- Primary building exceeds 10,000 square feet
- Attached 5,600‑square‑foot metal warehouse with multiple tenants
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sherlock Mini Storage — 901 W Del Norte St, Eureka, CA 95501
- Rainbow Self-Storage — 639 W Clark St, Eureka, CA 95501
- North American Van Lines — 1433 Broadway St Suite 100 B, Eureka, CA 95501
- Humboldt Moving & Storage — 1433 Broadway St Suite 100, Eureka, CA 95501
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building commercial property with paved parking, multiple occupancies, and direct visibility along State Highway 101.
Where is this warehouse 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: Approximately 22,000 square feet across two buildings; Primary building exceeds 10,000 square feet; Attached 5,600‑square‑foot metal warehouse with multiple tenants
