Waterfront Mixed-Use
For Sale
$5,999,000
4051 Us Hwy 101, Eureka, CA 95503
Diversified waterfront asset combining retail, office, industrial space, and surplus land with regional highway access.
Property Size67,500 SF
Lot Size25.13 Acres
Price / SF$88.87
Days on Market233
Property Features for 4051 Us Hwy 101
General Information
Standard status
Active
Size
67,500 SF
Lot size
25.13 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
53,000 SF
Office Build-Out
2,353 SF
Additional Details
Office Units
10
Building Details
Stories
1
Listing Agency:
WELLS COMMERCIAL R.E. & INVESTMENT
(707) 444-3624
Listed By:
DAVID WELLS · License #01700566
Source:
Corcoran
Added: Jan 10
Changed: Aug 31
Last Checked: Aug 31 at 2:39AM
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 mixed-use waterfront property encompasses approximately 25.13 acres and 67,500 SF of improvements. The improvements include a 12,148 SF retail building occupied by The United States Bakery, a one-story office building with 10 suites totaling 2,353 SF, and 53,000 SF of industrial space arranged across 11 units. Approximately 10 acres of surplus land provide additional yard, storage, and land lease capacity, with portions currently leased.
The property is positioned along Humboldt Bay between Arcata and Eureka, with access from US 101. Regional connectivity extends through US 101 and State Route 299 to I-5, supporting access across the broader area. The combination of retail, office, industrial, and land components creates a varied commercial configuration within one waterfront holding.
The property is positioned along Humboldt Bay between Arcata and Eureka, with access from US 101. Regional connectivity extends through US 101 and State Route 299 to I-5, supporting access across the broader area. The combination of retail, office, industrial, and land components creates a varied commercial configuration within one waterfront holding.
Key Highlights
- Approximately 25.13 acres along Humboldt Bay
- 67,500 SF of improvements across retail, office, and industrial components
- 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
Property Profile
Current Use
Lease Details
10
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
180
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
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 - Diversified waterfront asset combining retail, office, industrial space, and surplus land with regional highway access.
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; 67,500 SF of improvements across retail, office, and industrial components; 12,148 SF retail building occupied by The United States Bakery
