Versatile Live-Work and Office
For Sale
$384,900
231 H Street, Blue Lake, CA 95525
Currently operating as a preschool with private offices, reception, and full kitchen, adaptable for office, events, or live-work use.
Property Size2,303 SF
Lot Size0.23 Acres
Price / SF$167.13
Days on Market57
Property Features for 231 H Street
General Information
Standard status
Active
Size
2,303 SF
Lot size
0.23 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Office Units
3
Amenities
Carpeted Flooring
Forced Air Heating
Listing Agency:
COLDWELL BANKER CUTTEN REALTY
(707) 445-8811
Listed By:
TRACY HELARD-SHUMARD · License #01204587
Source:
Corcoran
Added: Jun 17
Changed: Aug 11
Last Checked: Aug 11 at 9:05AM
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 COLDWELL BANKER CUTTEN REALTY
Investment Insights
Based on property information with market context.
This well-built property is currently operating as a preschool and includes a layout that can transition to other business or community uses. Inside, you’ll find three private offices, a reception area, a full kitchen, a bathroom, and both a dedicated storage room and abundant additional storage throughout. The overall interior setup supports day-to-day operations while also offering flexibility for an owner-operator, professional offices, or other creative formats.
Set on more than 0.23 acres, the building offers views of Blue Lake and the surrounding hills, providing a distinctive backdrop for work, gathering, or a live-work arrangement. The property is also described as adjacent to another parcel where a church is for sale, allowing for the possibility of purchasing both together.
For buyers or operators looking for a functional, adaptable building, the combination of private office space, reception, kitchen, and multiple storage areas can support a range of uses beyond education. With its current preschool operation and thoughtfully included support spaces, the property may appeal to users who want an established interior framework while retaining the option to reposition the space for professional services, community programming, or an event-oriented setting.
Set on more than 0.23 acres, the building offers views of Blue Lake and the surrounding hills, providing a distinctive backdrop for work, gathering, or a live-work arrangement. The property is also described as adjacent to another parcel where a church is for sale, allowing for the possibility of purchasing both together.
For buyers or operators looking for a functional, adaptable building, the combination of private office space, reception, kitchen, and multiple storage areas can support a range of uses beyond education. With its current preschool operation and thoughtfully included support spaces, the property may appeal to users who want an established interior framework while retaining the option to reposition the space for professional services, community programming, or an event-oriented setting.
Key Highlights
- Over 2,300 SF of usable space currently operating as a preschool
- Includes three private offices and a reception area
- Full kitchen, bathroom, and storage room, plus abundant additional storage throughout
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
$29,996
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
7.79%
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%
$599,920
$599.9K
Cap Rate 7%
$428,514
$428.5K
Cap Rate 9%
$333,289
$333.3K
Market Conditions
NOI Build-Up for 2,303 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
$49.7K $21.60/SF
− Vacancy
−$9.7K −$4.23/SF
EGI
$40.0K $17.37/SF
− OpEx
−$10.0K −$4.34/SF
NOI
$30.0K $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%
$599,920
Cap Rate 7%
$428,514
Cap Rate 9%
$333,289
Alternative Uses
Best Use
Office B
$428.5K
$375.0K – $499.9K
NOI $29,996 @ 7.0% cap · market cap 7.79%
Second Best
Mixed Use
$333.1K
$291.5K – $388.6K
NOI $23,318 @ 7.0% cap · market cap 6.06%
Theoretical Best
Flex RnD
$869.7K
$761.0K – $1.01M
NOI $60,880 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 95525, CA
1,701
Population
860
Households
2
Avg Household Size
46
Median Age
37%
College-Educated
96%
High-School Grad
92.7 sq mi
ZIP Area
18
Density / Sq Mi
$65,250
Median Household Income
$36,818
Median Earnings
$1,221
Median Rent
$489,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
School - Currently operating as a preschool with private offices, reception, and full kitchen, adaptable for office, events, or live-work use.
Where is this school located?
The property is located at 231 H Street Blue Lake, CA.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Over 2,300 SF of usable space currently operating as a preschool; Includes three private offices and a reception area; Full kitchen, bathroom, and storage room, plus abundant additional storage throughout
