Mixed-Use Building in Downtown
For Sale
$595,000
326 I Street, Eureka, CA 95501
Mixed-use building with office and retail space for sale.
Property Size4,070 SF
Lot Size0.15 Acres
Price / SF$146.19
Days on Market154
Property Features for 326 I Street
General Information
Standard status
Active
Size
4,070 SF
Lot size
0.15 Acres
Property subtype
Commercial
Amenities
Carpeted Flooring
Vinyl Flooring
Listing Agency:
C.B. COMMERCIAL PACIFIC PARTNERS REAL ESTATE
(707) 442-2222
Listed By:
JB MATHERS · License #01872025
Source:
Corcoran
Added: Mar 31
Changed: Aug 25
Last Checked: Aug 30 at 6:39PM
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 C.B. COMMERCIAL PACIFIC PARTNERS REAL ESTATE
Investment Insights
Based on property information with market context.
Located in Downtown Eureka, 326 I Street is a mixed-use building featuring office and retail spaces. The property includes four units totaling approximately 4,070 square feet on a 0.15-acre parcel. Secured on-site parking and alley access are available. Three units are currently occupied by established tenants, while one unit is vacant, presenting immediate lease-up potential. The property is zoned Central Commercial (CC), supporting a variety of professional and retail uses. Current rents are below market, with projected income of approximately $3,950 per month at stabilization. Historical financials show consistent performance with NOI around $35,000 annually.
Key Highlights
- Mixed‑use office/retail building in Downtown Eureka.
- Immediate lease‑up potential with one vacant unit.
- Secured on‑site parking and alley access.
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
$53,011
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
8.91%
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%
$1,060,220
$1.1M
Cap Rate 7%
$757,300
$757.3K
Cap Rate 9%
$589,011
$589.0K
Market Conditions
NOI Build-Up for 4,070 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
$87.9K $21.60/SF
− Vacancy
−$17.2K −$4.23/SF
EGI
$70.7K $17.37/SF
− OpEx
−$17.7K −$4.34/SF
NOI
$53.0K $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%
$1,060,220
Cap Rate 7%
$757,300
Cap Rate 9%
$589,011
Alternative Uses
Best Use
Office B
$757.3K
$662.6K – $883.5K
NOI $53,011 @ 7.0% cap · market cap 8.91%
Second Best
Mixed Use
$588.7K
$515.1K – $686.8K
NOI $41,209 @ 7.0% cap · market cap 6.93%
Theoretical Best
Flex RnD
$1.54M
$1.34M – $1.79M
NOI $107,590 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,934
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?
Mixed-use property - Mixed-use building with office and retail space for sale.
Where is this mixed-use property located?
The property is located at 326 I Street Eureka, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Mixed‑use office/retail building in Downtown Eureka.; Immediate lease‑up potential with one vacant unit.; Secured on‑site parking and alley access.
