Mixed-Use Retail and Residential
511 + 515 Henderson Street Eureka, CA 95501
For Sale
$550,000
Two small retail units and three one-bedroom apartments offer a manageable mixed-use setup with separate utility meters.
Property Size2,510 SF
Price / SF$219.12
Days on Market337
Property Features for 511 + 515 Henderson Street
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Commercial
Listing Agency:
C.B. COMMERCIAL PACIFIC PARTNERS REAL ESTATE
(707) 442-2222
Listed By:
JB MATHERS · License #01872025
Source:
Corcoran
Added: Aug 27, 2025
Changed: Jul 10
Last Checked: Jul 29 at 5:55AM
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 C.B. COMMERCIAL PACIFIC PARTNERS REAL ESTATE
Investment Insights
Based on property information with market context.
The Henderson Center mixed-use property includes two small retail units and three one-bedroom, one-bath residential apartments. Each unit has its own PGE meter for electricity and gas, supporting straightforward, unit-level utility management. One car garage is attached to Apt B.
The property is located at 511 + 515 Henderson Street in Eureka, CA 95501. It is configured as a mixed retail and residential asset, combining street-facing retail space with attached residential improvements.
For buyers seeking an owner-operator or investment structure, the tenant mix is designed around three residential units plus two retail spaces, with utility separation by unit. The retail units are described as easy to lease, and the current tenant profile is noted as very good, with residents interested in staying in their respective units. The layout supports day-to-day ownership oversight across retail and residential uses within a single building setup.
The property is located at 511 + 515 Henderson Street in Eureka, CA 95501. It is configured as a mixed retail and residential asset, combining street-facing retail space with attached residential improvements.
For buyers seeking an owner-operator or investment structure, the tenant mix is designed around three residential units plus two retail spaces, with utility separation by unit. The retail units are described as easy to lease, and the current tenant profile is noted as very good, with residents interested in staying in their respective units. The layout supports day-to-day ownership oversight across retail and residential uses within a single building setup.
Key Highlights
- Mixed‑use property with 2 small retail units and 3 one‑bedroom, 1‑bath residential apartments
- Each unit has its own PGE meter for electricity and gas
- One car garage attached to Apt B
Financial Insights For Apartment 5plus
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 | $58.4k | $23.28 |
| − Vacancy | −$4.1k | −$1.63 |
| EGI | $54.3k | $21.65 |
| − OpEx | −$24.5k | −$9.74 |
| NOI | $29.9k | $11.91 |
2,510 SF · lease $23.28/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Retail
$837.5K
$732.9K – $977.1K
NOI $58,628 @ 7.0% cap · market cap 10.66%
Second Best
Apartment 5plus
$427.0K
$373.6K – $498.1K
NOI $29,888 @ 7.0% cap · market cap 5.43%
Theoretical Best
Flex RnD
$947.9K
$829.4K – $1.11M
NOI $66,352 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two small retail units and three one-bedroom apartments offer a manageable mixed-use setup with separate utility meters.
Where is this mixed-use property located?
The property is located at 511 + 515 Henderson Street Eureka, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Mixed‑use property with 2 small retail units and 3 one‑bedroom, 1‑bath residential apartments; Each unit has its own PGE meter for electricity and gas; One car garage attached to Apt B
