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    Property profile & analytics

    2409 Redwood St Eureka, CA 95503

    • Commercial real estate
    • 1.36 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2499318
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2409 Redwood St

    Lot size
    1.36 lot acres
    Property type
    Commercial real estate
    APN
    018-011-011

    Description

    This exceptional 1.36-acre parcel at 2409 Redwood Street in Eureka, California (APN 018-011-011), presents a remarkable opportunity for multi-family development. Zoned for multi-family use, this shovel-ready lot is ideally suited for the construction of a six-plex building, as per existing plans. The proposed development encompasses three two-bedroom units and three one-bedroom units, catering to a diverse range of renters. The property's ample size allows for the inclusion of five garages, providing convenient parking for residents. Located in Humboldt County, CA, 95503, this property boasts a prime location in Eureka, offering easy access to local amenities and services. The asking price is $859,000. This is a truly exceptional investment opportunity for developers seeking a high-return project in a desirable California market. The existing plans provide a solid foundation for immediate construction, minimizing pre-development hurdles and accelerating the path to profitability. Don't miss this chance to acquire a ready-to-build multi-family development site in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Eureka
    County
    Humboldt
    State
    California
    Longitude
    -124.1411867
    Latitude
    40.7720565

    Comparable in this City

    • $445,000
      Pending

      Multifamily Property with Development Potential

      Multifamily property featuring homes, shop, and development potential.
      1937 Ridgewood Dr, Eureka, CA 95503
      View Details
    • New
      $599,000
      1,664 SF

      Well-Kept Duplex in Eureka

      Attractive investment with consistent rental income and low-maintenance landscape.
      4479 Excelsior Rd, Eureka, CA 95503
      View Details
    • $445,000
      Pending

      Cutten Multifamily Property with Development Potential

      Multifamily property featuring two homes and development potential.
      1937 Ridgewood Dr, Cutten, CA 95503
      View Details
    • $469,000
      4,000 SF

      Eureka Mixed-Use Investment Opportunity

      Mixed-use property with retail and residential units in Eureka, CA.
      318 W Harris St, Eureka, CA 95503
      View Details
    • New
      $599,000
      1,664 SF

      Cutten Duplex: Income Potential

      Well-maintained Cutten duplex with consistent rental income.
      4479 Excelsior Rd, Cutten, CA 95503
      View Details
    • $469,000
      4,000 SF

      Eureka Mixed-Use Investment Property

      Mixed-use property with four units and high-traffic location.
      318 W Harris St, Eureka, CA 95503
      View Details

    Similar Nearby for Sale

    • $445,000
      Pending

      Multifamily Property with Development Potential

      Multifamily property featuring homes, shop, and development potential.
      1937 Ridgewood Dr, Eureka, CA 95503
      View Details
    • New
      $599,000
      1,664 SF

      Well-Kept Duplex in Eureka

      Attractive investment with consistent rental income and low-maintenance landscape.
      4479 Excelsior Rd, Eureka, CA 95503
      View Details
    • $445,000
      Pending

      Cutten Multifamily Property with Development Potential

      Multifamily property featuring two homes and development potential.
      1937 Ridgewood Dr, Cutten, CA 95503
      View Details
    • $469,000
      4,000 SF

      Eureka Mixed-Use Investment Opportunity

      Mixed-use property with retail and residential units in Eureka, CA.
      318 W Harris St, Eureka, CA 95503
      View Details
    • New
      $599,000
      1,664 SF

      Cutten Duplex: Income Potential

      Well-maintained Cutten duplex with consistent rental income.
      4479 Excelsior Rd, Cutten, CA 95503
      View Details
    • $469,000
      4,000 SF

      Eureka Mixed-Use Investment Property

      Mixed-use property with four units and high-traffic location.
      318 W Harris St, Eureka, CA 95503
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Eureka Mall Retail Space Available

      Large retail space available in Eureka Mall with high footfall.
      800 W Harris St, Eureka, CA 95503
      View Details
    • Contact for pricing

      Eureka Mall Standalone Retail Space

      Standalone retail space in Eureka Mall with drive-through.
      838 W Harris St, Eureka, CA 95503
      View Details
    Request Owner's contact information
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    2409 Redwood St
    Eureka, CA 95503
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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