Mixed-Use Retail and Residential
For Sale
$550,000
511 + 515 Henderson Street, Eureka, CA 95501
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 Market428
Property Features for 511 + 515 Henderson Street
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Amenities
Carpeted Flooring
Forced Air Heating
Space Heating
Vinyl Flooring
Wall Heating
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: Oct 25
Last Checked: Oct 26 at 5:24PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$29,888
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,760
$597.8K
Cap Rate 7%
$426,971
$427.0K
Cap Rate 9%
$332,089
$332.1K
Market Conditions
NOI Build-Up for 2,510 SF
Gross rent
$58.4K $23.28/SF
− Vacancy
−$4.1K −$1.63/SF
EGI
$54.3K $21.65/SF
− OpEx
−$24.5K −$9.74/SF
NOI
$29.9K $11.91/SF
Area
Humboldt County, CA
Vacancy
7.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,760
Cap Rate 7%
$426,971
Cap Rate 9%
$332,089
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.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
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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
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Market
Vacancy Rate% for Retail in West region
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
