Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1517 Miller St Honolulu, HI 96813

    View on Map
    Sponsored
    For Sale
    $2,050,000

    MULTI_FAMILY - Honolulu, HI

    Days on Market:
    5
    Last Refresh:
    Mar 6 at 3:06 am

    Property Features for 1517 Miller St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    1-2-1-037-028-0000
    Parking
    12
    Parking features
    Open

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    Building Details

    Year built
    1924
    Floors in Building
    2
    Number of units
    6
    Building materials
    Single Wall, Wood Frame

    We can help!

    Listing Contact
    Christina L Dwight
    Christina L Dwight

    Commercial Investment Strategies, LLC (808) 429-1098

    Listing agent Christina L Dwight (808) 429-1098 License #RB-20978

    Listing date Mar 2, 2026

    MLS# 202604799 Listing URL

    Copyright © 2026 HiCentral MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Honolulu Multifamily Development Opportunity

    This property presents an opportunity to develop a Bill 7 project. The property features a large lot located two blocks from Queens Hospital, situated in a low-risk flood zone (x) with no additional setbacks from the street. Upper floors may offer city views. An existing soils study and TOPO survey will be made available upon an accepted offer. The buyer is to accept the existing survey and shall be responsible for any additional updates required by themselves or their lender. The current setup includes six legal 2-bedroom, 1-bath units located in three structures. The front building contains four units (1517, C, D, & E), with two stand-alone cottages in the back (A & B). Two units have been renovated in the past five years. A coin laundry is owned. All units are separately metered for electric and gas (heaters and stoves), with one water meter. The property is located in Honolulu, HI 96813, on the island of Oahu.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.852312
    Latitude
    21.309224

    Nearby Similar for Sale

    • New
      $350,000

      Turnkey Chinese Restaurant in Honolulu

      Established Sichuan restaurant with high traffic location and loyal clientele.
      1450 Ala Moana Blvd, Honolulu, HI 96814
      View Details
    • $345,000

      Waikiki Commercial Office Space

      Rare commercial office space in Waikiki's vibrant Eaton Square.
      400 Hobron Ln, Honolulu, HI 96815
      View Details
    • New
      $50,000
      498 SF

      Honolulu Office Space For Sale

      Move-in-ready office space in a prime Honolulu location.
      1314 S King St, Honolulu, HI 96814
      View Details
    • New
      $660,000
      2,438 SF

      Honolulu Commercial Office Space

      Open office space with storage, conference rooms, and parking.
      222 Vineyard St Unit, Honolulu, HI 96813
      View Details
    • New
      $175,000
      1,048 SF

      Turnkey Restaurant in Honolulu Chinatown

      Authentic Vietnamese restaurant for sale in Honolulu's Chinatown.
      1145 Maunakea St, Honolulu, HI 96817
      View Details
    • $150,000
      1,977 SF

      Turn-Key Restaurant in Honolulu

      Restaurant space with outdoor seating in Kakaako area.
      401 Kamakee St, Honolulu, HI 96814
      View Details
    • $30,000
      554 SF

      Retail Store in Chinatown

      Prime retail space in Honolulu's busy Chinatown district.
      1120 Maunakea St, Honolulu, HI 96817
      View Details
    • New
      $175,000

      Turn-Key Restaurant Near Ala Moana

      Restaurant near Ala Moana Center with strong reputation.
      1232 Waimanu St, Honolulu, HI 96814
      View Details
    • Contact for pricing

      Turn-Key Restaurant in Honolulu

      Prime restaurant space in a high-traffic Honolulu location.
      909 Kapiolani Blvd, Honolulu, HI 96814
      View Details
    • $52,000

      Honolulu Office with City Views

      Prime corner office space with flexible layout and covered parking.
      1314 S King St, Honolulu, HI 96814
      View Details
    • $1,900,000
      4,400 SF

      Honolulu Warehouse in Kalihi I-2

      Warehouse in Kalihi I-2 corridor with convenient access.
      1818 Kahai St, Honolulu, HI 96819
      View Details
    • $240,000

      Honolulu Medical Office Space

      Prime medical office space in Honolulu, convenient location near hospitals.
      321 N Kuakini St, Honolulu, HI 96817
      View Details

    FAQs

    What type of property is this?
    Commercial land - Large lot near Queens Hospital, potential Bill 7 project.
    Where is this commercial land located?
    The property is located at 1517 Miller St Honolulu, HI.
    What is the asking price?
    The asking price for this property is $2,050,000.
    What are key features of this property?
    This property features: - Development opportunity under $200/sf for a Bill 7 project.; - Large lot located just 2 blocks from Queens Hospital.; - Low-risk flood zone (zone X) with no additional street setbacks.
    (808) 429-1098
    Request Owner's contact information
    1517 Miller St Honolulu, HI 96813
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1517 Miller St
    Honolulu, HI 96813
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1517 Miller St Honolulu, HI 96813
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Christina L Dwight
    Christina L Dwight
    Real Estate License ID: RB-20978
    (808) 429-1098
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!