Building Details

Flooring type Concrete

Building materials Metal Siding

Roof type Metal, Membrane

Listing Agency: Ming Tree, Inc. Show Phone

Listed By: Larry O. Doss · License #01196417 Show Phone

Added: Jan 5 Changed: Sep 16 Last Checked: Sep 21 at 2:06AM

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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-oriented commercial property includes two buildings totaling 22,000 square feet, with concrete flooring and metal siding. The primary building exceeds 10,000 square feet and includes 400-amp, 3-phase power. A separate 5,600-square-foot metal warehouse provides additional space and contains multiple tenants. The property also includes paved parking.

Positioned on a corner lot at 2029 Broadway, the site offers 293 feet of frontage along Highway 101/Broadway and sits at a lighted intersection. Commercial zoning supports its existing commercial configuration, while the combination of warehouse space, highway exposure, parking, and electrical capacity creates a practical setting for industrial or commercial operations.

Key Highlights

• 22,000 square feet across two commercial buildings
• 293 feet of frontage along Highway 101/Broadway
• Primary building exceeds 10,000 square feet

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 (±1% cap)

NOI $581,570 @ 7.0% cap · market cap 17.62%

Second Best

Warehouse

$2.23M

$1.95M – $2.60M (±1% cap)

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

Flex space

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Accounting Firm Parking Lot & Garage Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

597

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Two-building commercial property with paved parking, substantial power service, and a prominent corner setting 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: 22,000 square feet across two commercial buildings; 293 feet of frontage along Highway 101/Broadway; Primary building exceeds 10,000 square feet