Air-Conditioned Office Suite Overlooking Koi
101 HILO LAGOON CENTRE Hilo, HI 96720
101 HILO LAGOON CENTRE, Hilo, HI, 96720
$140,000
For Sale
Under Contract
$140,000
SINGLE_FAMILY - Hilo, HI
Property Size308 SF
Price / SF$454.55
Days on Market498
Property Features for 101 HILO LAGOON CENTRE
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- CG-7.5
- Standard status
- Active Under Contract
- APN
- 3220140100005
- Size
- 308 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1381
Utilities
- Utilities
- Water Available
- Water source
- Public
Building Details
- Year built
- 1971
- Number of units
- 1
Listing Agency
Sunrise Properties LLC
(808) 935-4743
101 Aupuni Street, Suite 106, Hilo, HI
Listed by
Terry Schoneberg
(808) 895-4905
Added: Mar 7, 2025 Checked: Jul 18 at 9:06 am
MLS# 719083
Listing URL
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office suite is fully air-conditioned with central AC and a newly installed air handler. The space overlooks a koi pond, offering a quiet, landscaped view from within the unit. A sink has recently been installed, supporting everyday office needs. The suite is currently vacant and described as easy to show.
The property is located at 101 Hilo Lagoon Centre in Hilo, Hawaii 96720, within the Hilo Lagoon Center. Public remarks note 24/7 security and proximity to a state building, as well as being next to a park. The site is zoned CG-7.5.
For tenants or buyers seeking a compact office environment with climate control and on-site security, this suite checks several practical boxes. The central AC and new air handler can help maintain comfort through the workday, while the installed sink adds convenience for day-to-day operations. The koi pond view and location near a park and nearby state facilities may also support tenant experience and professional presentation. With the space noted as vacant and easy to show, it can be reviewed on a straightforward timeline.
The property is located at 101 Hilo Lagoon Centre in Hilo, Hawaii 96720, within the Hilo Lagoon Center. Public remarks note 24/7 security and proximity to a state building, as well as being next to a park. The site is zoned CG-7.5.
For tenants or buyers seeking a compact office environment with climate control and on-site security, this suite checks several practical boxes. The central AC and new air handler can help maintain comfort through the workday, while the installed sink adds convenience for day-to-day operations. The koi pond view and location near a park and nearby state facilities may also support tenant experience and professional presentation. With the space noted as vacant and easy to show, it can be reviewed on a straightforward timeline.
Key Highlights
- Fully air conditioned with central AC and NEW handler
- 24/7 building security
- Prime location: Next to State Building in Hilo Lagoon Center and a beautiful park
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $6.8k | $22.20 |
| − Vacancy | −$991 | −$3.22 |
| EGI | $5.8k | $18.98 |
| − OpEx | −$1.5k | −$4.75 |
| NOI | $4.4k | $14.24 |
308 SF · lease $22.20/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$62.6K
$54.8K – $73.1K
NOI $4,385 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$105.1K
$92.0K – $122.6K
NOI $7,358 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Fully air-conditioned office suite with central AC, newly installed handler, and dedicated sink in a secured center.
Where is this office units located?
The property is located at 101 HILO LAGOON CENTRE Hilo, HI.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Fully air conditioned with central AC and **NEW handler**; 24/7 building security; Prime location: Next to State Building in Hilo Lagoon Center and a beautiful park
