Freestanding Two-Story Office
New
For Sale
$1,095,000
404 H Street, Eureka, CA 95501
Commercial Sale, Eureka, CA
Property Size7,334 SF
Lot Size0.19 Acres
Price / SF$149.30
Days on Market2
Property Features for 404 H Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
6
Directions
At the corner of 4th and H in downtown Eureka, CA
Subdivision
South Bay
Standard status
Active
Size
7,334 SF
Lot size
0.19 Acres
Building Details
Floors in Building
2
Listing Agency:
Wells Commercial R.E. & Investment
(707) 444-3624
Listed By:
David Wells · License #01700566
(707) 832-9121
Added: Aug 20
Last Checked: Aug 21 at 1:06PM
MLS# 273191
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.
Located at 404 H Street in Eureka, this freestanding office property occupies one parcel and includes approximately 7,334 square feet across two levels. The main floor measures approximately 4,867 square feet and provides private offices, cubicles, reception space, restrooms, and storage. The approximately 2,467-square-foot upper floor adds a break room, additional storage, and two large conference rooms.
The property sits at the corner of 4th and H Street in downtown Eureka, 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 entire building is leased to the County of Humboldt and carries Commercial zoning.
The property sits at the corner of 4th and H Street in downtown Eureka, 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 entire building is leased to the County of Humboldt and carries Commercial zoning.
Key Highlights
- Approximately 7,334 SF office building on a 0.19‑acre parcel
- Main floor contains approximately 4,867 SF of offices, reception, restrooms, and storage
- Second floor includes approximately 2,467 SF, a break room, storage, and two large conference rooms
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned property with a professional office layout and six on-site parking spaces.
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 a 0.19‑acre parcel; Main floor contains approximately 4,867 SF of offices, reception, restrooms, and storage; Second floor includes approximately 2,467 SF, a break room, storage, and two large conference rooms
