Freestanding Two-Story Office
For Sale
$1,095,000
404 H Street, Eureka, CA 95501
Leased office property with private work areas, conference rooms, storage, and on-site parking in downtown Eureka.
Property Size7,334 SF
Price / SF$149.30
Days on Market9
Property Features for 404 H Street
General Information
Standard status
Active
Size
7,334 SF
Total Parking Spaces
6
Property subtype
Commercial
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
WELLS COMMERCIAL R.E. & INVESTMENT
(707) 444-3624
Listed By:
DAVID WELLS · License #01700566
Source:
Corcoran
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 6:28AM
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 WELLS COMMERCIAL R.E. & INVESTMENT
Investment Insights
Based on property information with market context.
This freestanding office building was constructed in 1960 and contains approximately 7,334 square feet across two levels. The main floor measures approximately 4,867 square feet and includes private offices, cubicle areas, reception, restrooms, and storage. The approximately 2,467-square-foot upper level adds a break room, additional storage, and two large conference rooms. The entire building is leased to the County of Humboldt.
Positioned on a corner parcel at 4th and H streets in downtown Eureka, the property is one block from the Humboldt County Courthouse. Six on-site parking spaces serve the building, with multiple municipal parking lots located within a block. The property is zoned Downtown Commercial.
Positioned on a corner parcel at 4th and H streets in downtown Eureka, the property is one block from the Humboldt County Courthouse. Six on-site parking spaces serve the building, with multiple municipal parking lots located within a block. The property is zoned Downtown Commercial.
Key Highlights
- Approximately 7,334 SF office building on one parcel
- Two‑story layout with approximately 4,867 SF on the main floor and 2,467 SF upstairs
- Entire building leased to the County of Humboldt
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
$95,524
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
8.72%
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%
$1,910,480
$1.9M
Cap Rate 7%
$1,364,629
$1.4M
Cap Rate 9%
$1,061,378
$1.1M
Market Conditions
NOI Build-Up for 7,334 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
$158.4K $21.60/SF
− Vacancy
−$31.0K −$4.23/SF
EGI
$127.4K $17.37/SF
− OpEx
−$31.8K −$4.34/SF
NOI
$95.5K $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%
$1,910,480
Cap Rate 7%
$1,364,629
Cap Rate 9%
$1,061,378
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,524 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.77M
$2.42M – $3.23M
NOI $193,874 @ 7.0% cap · market cap 17.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
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?
Office building - Leased office property with private work areas, conference rooms, storage, and on-site parking in downtown Eureka.
Where is this office building located?
The property is located at 404 H Street Eureka, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Approximately 7,334 SF office building on one parcel; Two‑story layout with approximately 4,867 SF on the main floor and 2,467 SF upstairs; Entire building leased to the County of Humboldt
