1626 BroadwayEureka, CA 95501
- Retail properties
- 0.73 AC
Property Details for 1626 Broadway
- Lot size
- 0.73 AC
- Zone code
- CS
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 003-171-014-000
- APU
- 3171014000
Description
This exceptional investment opportunity presents a prime Eureka, CA storefront property located at 1626 and 1628 Broadway (Highway 101). The 11,500 square foot property sits on a 0.73-acre lot and is currently 100% occupied by two strong tenants. A major liquor retailer, Bevmo!, recently renewed their lease for an additional five years, demonstrating their commitment to the location. A top-performing Humboldt County dispensary also signed a new five-year lease. Both leases are NNN (Net, Net, Net), meaning the landlord's responsibility is limited to roof maintenance. Annual rent exceeds $130,000, with built-in escalations ensuring consistent income growth. The property benefits from a highly desirable location, surrounded by established businesses such as O'Reilly Auto Parts, Eureka Natural Foods, Costco, Walgreens, and US Cellular, ensuring high foot traffic and visibility. This multi-tenant storefront offers a compelling opportunity for passive income generation in a thriving Eureka market. The asking price is $2,750,000. The property's strong tenancy, favorable lease terms, and prime location make it an attractive investment prospect.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $8,424,133
- 6.5%
- $7,776,123
- 7%
- $7,220,686
-
Comparable approach
- Method
- Valuation
- Relative Method
- $11,441,098
- Geo Method
- $11,441,098
-
Alternative Use
- Use
- Valuation
- Residential
- $6,559,451
- Hospitality
- $6,008,422
- Educational
- $4,998,936
- Medical
- $5,170,858
- Retail
- $7,776,123
Location Insight
- City
- Eureka
- County
- Humboldt
- State
- California
- Latitude
- 40.7926
- Longitude
- -124.179
- CBSA code
- 21700
- CBSA name
- EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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