Two-Story Office
For Sale
$499,000
Pending
2850 E Street, Eureka, CA 95501
Two-story office building with handicap accessibility and alley access to a four-car carport.
Property Size2,940 SF
Days on Market97
Property Features for 2850 E Street
General Information
Standard status
Pending
Size
2,940 SF
Total Parking Spaces
4
Property subtype
Commercial
Amenities
handicapped accessible
Carpeted Flooring
Forced Air Heating
Vinyl Flooring
Wood Flooring
Building Details
Stories
2
Listing Agency:
COMMUNITY REALTY-ARCATA
(707) 839-9093
Listed By:
DAISY DALTON · License #01305188
(707) 269-2400
Source:
Corcoran
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 28 at 11:04AM
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 COMMUNITY REALTY-ARCATA
Investment Insights
Based on property information with market context.
Located in popular Henderson Center, this two-story, 2,940 sq ft property was formerly home of Community Realty. It has been converted to office use on both floors, with the original layout having been an office downstairs and an apartment upstairs. The building is zoned commercial and residential. To return it to residential use, it would require adding some walls, closets, and a shower. A contractor who performed the original remodel is willing to provide a bid to the buyer.
The property is handicapped accessible and has pest work completed. It also provides alley access to a four-car carport, supporting convenient off-street parking for occupants and visitors.
The configuration allows for flexible interior use across two levels, currently operated as office space throughout the building.
The property is handicapped accessible and has pest work completed. It also provides alley access to a four-car carport, supporting convenient off-street parking for occupants and visitors.
The configuration allows for flexible interior use across two levels, currently operated as office space throughout the building.
Key Highlights
- 2‑story, 2,940 SF former Community Realty building located in Henderson Center
- Zoned commercial and residential; downstairs originally office use and upstairs an apartment
- Both floors were converted to office use; would need added walls, closets, and a shower to return to residential
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
$38,293
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
7.67%
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%
$765,860
$765.9K
Cap Rate 7%
$547,043
$547.0K
Cap Rate 9%
$425,478
$425.5K
Market Conditions
NOI Build-Up for 2,940 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
$63.5K $21.60/SF
− Vacancy
−$12.4K −$4.23/SF
EGI
$51.1K $17.37/SF
− OpEx
−$12.8K −$4.34/SF
NOI
$38.3K $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%
$765,860
Cap Rate 7%
$547,043
Cap Rate 9%
$425,478
Alternative Uses
Best Use
Office B
$547.0K
$478.7K – $638.2K
NOI $38,293 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.11M
$971.5K – $1.30M
NOI $77,719 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with handicap accessibility and alley access to a four-car carport.
Where is this office building located?
The property is located at 2850 E Street Eureka, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2‑story, 2,940 SF former Community Realty building located in Henderson Center; Zoned commercial and residential; downstairs originally office use and upstairs an apartment; Both floors were converted to office use; would need added walls, closets, and a shower to return to residential
