Village-Commercial Storefront
New
For Sale
$349,950
15-2883 PAHOA VILLAGE RD, Pahoa, HI 96778
Commercial Sale, Pahoa, HI
Property Size1,144 SF
Lot Size0.24 Acres
Price / SF$305.90
Days on Market2
Property Features for 15-2883 PAHOA VILLAGE RD
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CV-10
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Subdivision
NANAWALE HOMESTEADS
Lot features
Cleared
Standard status
Active
APN
3150110100000
Size
1,144 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2955
Utilities
Utilities
Water Available
Sewer type
Cesspool
Water source
Public
Amenities
shared washer/dryer
laundry sink
covered lanai
garden
Building Details
Year built
1986
Flooring type
Carpet
Listing Agency:
Coldwell Banker Island Properties - Kona · Coldwell Banker Real Estate
(808) 875-7000
Listed By:
Felicia Frazer-Harms · License #RS-66974
(808) 936-2270
Added: Aug 22
Last Checked: Aug 23 at 9:06AM
MLS# 732636
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 fee-simple storefront property in Pahoa includes a 1,144-square-foot main building and a rear cottage on a 0.239-acre parcel. The main structure accommodates a tattoo parlor and barber shop/hair salon, with a full bathroom and plumbing for a kitchen. A second bathroom, added in 2008, serves the cottage, which is currently used as a massage studio. A shared washer and dryer, laundry sink, covered lanai, and sitting area are located in the connecting breezeway and cottage area.
The property is zoned CV-10 and positioned at 15-2883 Pahoa Village Rd in Pahoa. Setback from the road, it provides off-street customer parking while remaining visible from the street. Mature Hapu'u ferns, anthuriums, avocado, tangerine, and apple banana trees occupy the rear garden. The building was constructed in 1986 and has public water service, water available, and a cesspool.
The property is zoned CV-10 and positioned at 15-2883 Pahoa Village Rd in Pahoa. Setback from the road, it provides off-street customer parking while remaining visible from the street. Mature Hapu'u ferns, anthuriums, avocado, tangerine, and apple banana trees occupy the rear garden. The building was constructed in 1986 and has public water service, water available, and a cesspool.
Key Highlights
- CV‑10 zoning on a 0.239‑acre fee‑simple parcel
- Three established tenants: tattoo parlor, barber shop/hair salon, and massage studio
- 1,144 square feet with a main building and rear cottage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$494,180
$494.2K
Cap Rate 7%
$352,986
$353.0K
Cap Rate 9%
$274,544
$274.5K
Market Conditions
NOI Build-Up for 1,144 SF
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.
Gross rent
$37.8K $33.00/SF
− Vacancy
−$2.5K −$2.15/SF
EGI
$35.3K $30.86/SF
− OpEx
−$10.6K −$9.26/SF
NOI
$24.7K $21.60/SF
Area
Hawaii County, HI
Vacancy
6.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$494,180
Cap Rate 7%
$352,986
Cap Rate 9%
$274,544
Alternative Uses
Best Use
Retail
$353.0K
$308.9K – $411.8K
NOI $24,709 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96778, HI
14,687
Population
6,814
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
211.5 sq mi
ZIP Area
69
Density / Sq Mi
$34,863
Median Household Income
$29,821
Median Earnings
$1,321
Median Rent
$241,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Three established businesses share a fee-simple property with customer parking and a separate cottage.
Where is this storefront property located?
The property is located at 15-2883 PAHOA VILLAGE RD Pahoa, HI.
What is the asking price?
The asking price for this property is $349,950.
What are key features of this property?
This property features: CV‑10 zoning on a 0.239‑acre fee‑simple parcel; Three established tenants: tattoo parlor, barber shop/hair salon, and massage studio; 1,144 square feet with a main building and rear cottage
