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    Property profile & analytics

    2440 Broadway Eureka, CA 95501-2132

    • Parking lots & garages
    • 17,160 SF
    • 1.68 lot acres
    OFF-MARKET
    Last Sale
    Jan 09, 2020
    $1,440,000
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2478369
    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

    • Parking lots & garages

    Property Details for 2440 Broadway

    Year built
    1994
    Lot size
    1.68 lot acres
    Property size
    17,160 SF
    Zone code
    NR,CS
    Property type
    Parking lots & garages
    APN
    007-041-013-000
    APU
    7041013000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,985,000
      ML approach
      $1,930,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,749,000
      Market price range: $1.04M - $2.34M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $1,780,000
      Current use
      MEDICAL BUILDING
      $2,780,000
      Change: +56% Conversion: Difficult
      RESTAURANT
      $2,255,000
      Change: +27% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,700,000
      Change: -4% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,665,000
      Change: -6% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,640,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $1,450,000
      Change: -19% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,440,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Eureka
    County
    Humboldt
    State
    California
    Longitude
    -124.182
    Latitude
    40.7857
    CBSA code
    21700
    CBSA name
    EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,719
    $1,072,201
    $807,607
    $1,879,808
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      1314 Broadway

      PARKING GARAGE, PARKING STRUCTURE • 0.16 Acres
      1314 Broadway, Eureka, CA 95501-0132
      View Details
    • Value Estimation by Request
      1,370 SF

      402 P St

      PARKING GARAGE, PARKING STRUCTURE • 1,370 SF
      402 P St, Eureka, CA 95501-0629
      View Details
    • Value Estimation by Request
      2,400 SF

      2025 2nd St

      PARKING GARAGE, PARKING STRUCTURE • 2,400 SF
      2025 2nd St, Eureka, CA 95501-0803
      View Details
    • Value Estimation by Request
      1,750 SF

      3 3rd St

      PARKING GARAGE, PARKING STRUCTURE • 1,750 SF
      3 3rd St, Eureka, CA 95501-0330
      View Details
    • Value Estimation by Request
      0.20 Acres

      211 U St

      PARKING GARAGE, PARKING STRUCTURE • 0.20 Acres
      211 U St, Eureka, CA 95501
      View Details
    • Value Estimation by Request
      3,600 SF

      Eureka, CA 95501

      PARKING GARAGE, PARKING STRUCTURE • 3,600 SF
      Eureka, CA 95501
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Centrally located downtown Eureka corner lot with fenced parking.
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      1 SF

      Eureka Car Wash For Sale

      Long-established car wash business with real estate on Hwy 101.
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      Eureka Auto Shop & Land Sale

      High-traffic location, established business
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      3,950 SF

      Eureka Commercial Victorian Storefront Residence

      Spacious Victorian with commercial units and single-family residence in Eureka.
      1480 Myrtle Ave, Eureka, CA 95501
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      Eureka Commercial Building on Highway

      Turnkey restaurant opportunity with high visibility on Highway 101.
      1134 5Th St, Eureka, CA 95501
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      9,840 SF

      Roy's Club: Eureka Gem

      Historic Restaurant & Bar, Multiple Revenue Streams
      218 D St, Eureka, CA 95501
      View Details

    Similar Nearby for Lease

    • $3,100 /Mo

      Remodeled Retail/Office Space Available

      Remodeled ground floor suite near Old Town Gazebo.
      420 3Rd St, Eureka, CA 95501
      View Details
    • Contact for pricing

      Commercial Spaces in Mixed-Use Building

      Retail and office spaces available in Old Town Eureka.
      G St, Eureka, CA 95501
      View Details
    • $6,500 /Mo

      Eureka Flex Space with Warehouse

      Flex retail/office/warehouse space with mezzanine and roll-up doors.
      3952 Jacobs Ave, Eureka, CA 95501
      View Details
    • $4,775 /Mo

      Mixed-Use Commercial Space in Old Town

      Commercial spaces available in mixed-use building with residential clientele.
      236 G St, Eureka, CA 95501
      View Details
    • $9 SF/Yr
      5,400 SF

      Eureka Retail Space - Broadway Hwy 101

      High-traffic retail space, Eureka, CA.
      3008 Broadway St, Eureka, CA 95501
      View Details
    • $8 SF/Yr
      8,800 SF

      Downtown Eureka Office Space

      8,800 SF, Versatile, Downtown Location
      720 3Rd St, Eureka, CA 95501
      View Details
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    2440 Broadway
    Eureka, CA 95501-2132
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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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