Office Units with Parking
For Sale
$1,650,000
224 HAILI ST, Hilo, HI 96720
SINGLE_FAMILY - Hilo, HI
Property Size4,816 SF
Lot Size0.44 Acres
Price / SF$342.61
Days on Market94
Property Features for 224 HAILI ST
General Information
Property type
Residential
Property subtype
Office
Zoning
CDH
Bathrooms
7
Half bathrooms
7
Rooms
Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 7, Bathroom 5
Parking features
Assigned
Subdivision
HILO TOWN
Lot features
Cleared, Grassy
Standard status
Active
APN
3230130060000
Size
4,816 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13128
Utilities
Utilities
Cable Available
Heating system
Zoned
Cooling system
Zoned
Building Details
Year built
1963
Floors in Building
1
Number of units
3
Listing Agency:
Coldwell Banker Island Properties - Hilo · Coldwell Banker Real Estate
(808) 969-7863
Listed By:
Glenn M. Takase · License #RB-18547
(808) 936-0692
Added: May 1
Changed: Jul 31
Last Checked: Aug 2 at 3:06AM
MLS# 730008
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.
Two separate commercial buildings comprise this office units offering above downtown Hilo, with convenient central access and high visibility. The first building includes 1,840 SF and is occupied by a long-term dental office tenant. The second building consists of two additional units totaling 2,976 SF and is currently fully occupied. The property also includes a 16-stall parking lot.
Built in 1963, the site totals 0.4435 acres and features zoned heating and zoned cooling. Parking is provided with assigned spaces. Cable is available for connectivity.
With both buildings operating as income-producing office space, this property provides an owner the ability to manage two separate commercial structures within the same overall site.
Built in 1963, the site totals 0.4435 acres and features zoned heating and zoned cooling. Parking is provided with assigned spaces. Cable is available for connectivity.
With both buildings operating as income-producing office space, this property provides an owner the ability to manage two separate commercial structures within the same overall site.
Key Highlights
- 0.4435 acres with two separate office buildings above downtown Hilo
- First building: 1,840 SF occupied by long‑term dental office tenant
- Second building: two additional units totaling 2,976 SF fully occupied
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 | $106.9k | $22.20 |
| − Vacancy | −$15.5k | −$3.22 |
| EGI | $91.4k | $18.98 |
| − OpEx | −$22.9k | −$4.75 |
| NOI | $68.6k | $14.24 |
4,816 SF · lease $22.20/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$979.4K
$857.0K – $1.14M
NOI $68,559 @ 7.0% cap · market cap 4.16%
Second Best
Healthcare Medical
$951.8K
$832.9K – $1.11M
NOI $66,628 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,052 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Two-office-building setup in zoning CDH, featuring zoned HVAC and a 16-stall parking lot.
Where is this office units located?
The property is located at 224 HAILI ST Hilo, HI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 0.4435 acres with two separate office buildings above downtown Hilo; First building: 1,840 SF occupied by long‑term dental office tenant; Second building: two additional units totaling 2,976 SF fully occupied
