507 2nd Street, Eureka, CA 95501
Restored 1872-era building includes a fine-dining restaurant and luxury apartments with radiant heated concrete floors.
- Added:
- Dec 9, 2025
- Days on Market:
- 191
- Last Refresh:
- Jun 13 at 1:58 am
Property Features for 507 2nd Street
General Information
- Standard status
- Active
- Size
- 4,400 SF
- Property subtype
- Commercial
Listing agent NATHAN BAXLEY
Listing office LAND X REAL ESTATE INC. (530) 848-3314
Listing date Dec 9, 2025
Source Corcoran
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 LAND X REAL ESTATE INC.
HighLights
- Originally built in 1872 and renovated with Art Deco updates; fully restored in 2004
- Front 2,200 SF restored with new foundation and earthquake retrofit; includes new framing, plumbing, electrical, and 2‑hour fire‑rated structure
- Poured concrete floors throughout (upstairs and down) with radiant heat
- Rear 2,200 SF built in 2004 features three stories with a penthouse and expansive roof deck
- Second‑floor 2,200 SF residence includes 16‑foot ceilings, glass railings, and exotic granite countertops
- Sale includes Restaurant Five Eleven; short‑term vacation rental permit completed and approved
Overview
The rear 2,200 sqft was also constructed in 2004, offering three stories of modern living space and culminating in a penthouse and expansive roof deck. The setting is in Historic Old Town, one building off the gazebo and about a block from the waterfront, with views described as spanning the marina, redwoods, and Pacific Ocean.
Restaurant Five Eleven is included in the sale, operating as a modern fine-dining restaurant and bar with farm-to-table North Pacific cuisine, an extensive wine selection, and a diverse cocktail menu. A Short Term Vacation Rental Permit has been completed and approved, supporting flexibility for short-term use of the residential portion. The result is a distinctive mixed-use asset designed for buyers or operators who want both a functional hospitality component and updated residential space within a fully restored, code-conscious building envelope.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.7k | $37.20 |
| − Vacancy | −$16.9k | −$3.83 |
| EGI | $146.8k | $33.37 |
| − OpEx | −$36.7k | −$8.34 |
| NOI | $110.1k | $25.03 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Eureka
- County
- Humboldt
- State
- California
- Longitude
- -124.1663477
- Latitude
- 40.8046908
