518 7th Street
Eureka, CA 95501 ·
104 Rooms · Hotel & Motel For Sale
The Historic Eureka Inn
|No. Rooms||104||No. Stories||4|
|Building Size||93,000 SF||Year Built||1922|
|Property Type||Hotel & Motel||Lot Size||1.82 SF|
|APN / Parcel ID||001-156-01|
|Property Use Type||Vacant/Owner-User|
|Listing ID: 15225560||Date Created: 07/03/2007||Last Updated: 02/11/2008|
The Eureka Inn consists of 104 guest units, two full service restaurants, two lounges w/lic. license, three conference rooms, four retail spaces, large outdoor pool, indoor spa, two saunas, four meeting rooms, two elevators and much more. The Inn closed in 2003 due to extremely poor management. There are numerous repairs that will need to be completed prior to the reopening of the Inn. The current owners have completed numerous studies and have worked with the City of Eureka to develop a plan to assit with numerous offsite costs. As a Historic Building, there are numerous incentives available for investors. Please refer to the attached flyer for more details on Historic Tax Credits, Enterprise Zoning and potential City involvement.
Located off highway 101 in Eureka, CA. The Inn rest at the East end of the proposed F Street Performing Arts Corridor. The Eureka Inn will serve as an anchor for the Performing Arts Corridor. There have been discussions with the City of Eureka to change the main street name from F Street to Eureka Inn Way. This will be substantial as Eureka Inn Way will link Highway 101 to Downtown Eureka.
- Historic Tax Credit (20% credit on any improvement)
- PKF Apraisal at 11.1 million if in operation
- Enterprise Zone (Reduced property taxes)
- Fee ownership one full city block
- Redevelopment Agency monies
- Largest conference center in the County
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