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Property profile & analytics
OFF-MARKET
Estimated value
$3,425,000
Retail space
638 Summer St Eureka, CA 95501
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2816770
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
20,423 SF
Lot
1.76 ac (76,665 SF)
Zoning code
CS-AR
APN
001-043-014-000
UPID
US09-2816770
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.23M
Blend (final)
Blend
$3.43M
Owner & transaction history
Read Holdings LLC · 9 yrs held
Read Holdings LLC
since 2016
4 recorded transactions
Zoning & alternative use
CS-AR · Eureka, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.8M
+58.3%
Industrial (general)
$3.8M
+55.0%
Commercial (general)
$2.9M
+20.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Eureka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eureka submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,430,000
Current use
RESTAURANT
$3,845,000
Change: +58% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,765,000
Change: +55% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,920,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,395,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$3.43M
Range $3.08M – $3.77M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$168 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$38,033
Tax year 2024
Assessed value
$3,625,641
Assessed 2024
Previous assessed
$3,625,641
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$845,602
Assessed improvement
$2,780,039
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2004
Heating
NONE
Stories
1
Total area
20,423 SF
Lot
1.76 ac (76,665 SF)
Zoning code
CS-AR
APN
001-043-014-000
UPID
US09-2816770
Jurisdiction
HUMBOLDT
Zoning & alternative use
CS-AR · Eureka, CA
Zoning CS-AR · permitted uses
CS-AR · Eureka, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eureka. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
RESTAURANT
Est. value
$3.8M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RETAIL STORES Current
RESTAURANT
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Read Holdings LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2025 4TH ST, BERKELEY, CA 94710-1912
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2017
—
Read Holdings LLC
—
Deed
related
$12,500,000 · First Republic Bk
Oct 11, 2016
—
Read Holdings LLC
Read Real Estate LLC
Quit Claim Deed
—
Feb 20, 1986
—
—
—
Grant Deed
related
—
—
—
Read Holdings LLC
—
Deed Of Trust
related
$12,500,000 · First Republic Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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