Waterfront Mixed-Use
For Sale
$5,999,000
4051 Us Hwy 101, Eureka, CA 95503
Commercial Sale, Eureka, CA
Property Size67,500 SF
Lot Size25.13 Acres
Price / SF$88.87
Days on Market256
Property Features for 4051 Us Hwy 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Yes
Subdivision
South Bay
Standard status
Active
Size
67,500 SF
Lot size
25.13 Acres
Listing Agency:
Wells Commercial R.E. & Investment
(707) 444-3624
Listed By:
David Wells · License #01700566
(707) 832-9121
Added: Jan 9
Changed: Sep 3
Last Checked: Sep 22 at 3:06PM
MLS# 271338
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.
This mixed-use waterfront property encompasses approximately 25.13 acres along Humboldt Bay, with approximately 67,500 square feet of improvements. The campus includes a 12,148-square-foot retail building occupied by The United States Bakery, a one-story office building containing 10 suites and 2,353 square feet, plus approximately 53,000 square feet of industrial space configured across 11 units.
Approximately 10 acres of surplus land provide additional yard and storage areas, with portions currently leased for land-use income. The property is positioned between Arcata and Eureka at 4051 US Hwy 101 in Eureka, with access and exposure from US 101. Regional connections extend via State Route 299 to I-5. Financials are available upon request.
Approximately 10 acres of surplus land provide additional yard and storage areas, with portions currently leased for land-use income. The property is positioned between Arcata and Eureka at 4051 US Hwy 101 in Eureka, with access and exposure from US 101. Regional connections extend via State Route 299 to I-5. Financials are available upon request.
Key Highlights
- Approximately 25.13 acres along Humboldt Bay
- Approximately 67,500 SF of total improvements
- 12,148 SF retail building occupied by The United States Bakery
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
$393,782
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
6.56%
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%
$7,875,640
$7.9M
Cap Rate 7%
$5,625,457
$5.6M
Cap Rate 9%
$4,375,356
$4.4M
Market Conditions
NOI Build-Up for 67,500 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
$607.5K $9.00/SF
− Vacancy
−$45.0K −$0.67/SF
EGI
$562.5K $8.33/SF
− OpEx
−$168.8K −$2.50/SF
NOI
$393.8K $5.83/SF
Area
Humboldt County, CA
Vacancy
7.40%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$7,875,640
Cap Rate 7%
$5,625,457
Cap Rate 9%
$4,375,356
Alternative Uses
Best Use
Retail
$22.52M
$19.71M – $26.28M
NOI $1,576,657 @ 7.0% cap · market cap 26.28%
Second Best
Office B
$12.56M
$10.99M – $14.65M
NOI $879,174 @ 7.0% cap · market cap 14.66%
Theoretical Best
Flex RnD
$25.49M
$22.30M – $29.74M
NOI $1,784,361 @ 7.0% cap · market cap 29.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 95503, CA
24,488
Population
10,738
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
83.7 sq mi
ZIP Area
293
Density / Sq Mi
$76,708
Median Household Income
$36,822
Median Earnings
$1,485
Median Rent
$411,500
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Waterfront commercial campus with retail, office, industrial, and surplus land components along Humboldt Bay.
Where is this mixed-use property located?
The property is located at 4051 Us Hwy 101 Eureka, CA.
What is the asking price?
The asking price for this property is $5,999,000.
What are key features of this property?
This property features: Approximately 25.13 acres along Humboldt Bay; Approximately 67,500 SF of total improvements; 12,148 SF retail building occupied by The United States Bakery
