Commercial-Zoned
For Sale
$1,850,000
3559 HANAPEPE RD, Hanapepe, HI 96716
Commercial Sale, Hanapepe, HI
Property Size3,700 SF
Lot Size0.22 Acres
Price / SF$500
Days on Market94
Property Features for 3559 HANAPEPE RD
General Information
Property type
Residential
Property subtype
Office
Zoning
C-G
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 7, Bedroom 6, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 2
Parking features
Assigned
Subdivision
HANAPEPE TOWN LOTS
Lot features
Rocky
Standard status
Active
APN
4190110010000
Size
3,700 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7844
Utilities
Utilities
Water Available
Water source
Public
Amenities
air-conditioned
washer/dryer hook-ups
on-demand water heating
sewer connection
Building Details
Year built
1943
Listing Agency:
RE/MAX Kauai - Princeville Office · RE/MAX International
(808) 826-9675
Listed By:
Jimmy Johnson · License #RB-18149
(808) 639-9675
Added: Jun 10
Changed: Sep 2
Last Checked: Sep 11 at 7:06AM
MLS# 731108
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 3,700-square-foot triplex sits on a 0.2204-acre lot and carries C-G commercial zoning. The building includes three air-conditioned units with varied configurations: a street-facing one-bedroom, one-bath unit; a rear three-bedroom, 1.75-bath unit with a former commercial kitchen; and an upstairs three-bedroom, two-bath unit with two entrances. The property was built in 1943 and includes assigned parking, three washer/dryer hookups, on-demand water heating, sewer connection, and public water service.
Located in Hanapepe, the property is 18 miles from Lihue and is described as convenient to the Pacific Missile Range Facility workforce. Westside destinations referenced in the property information include Salt Pond Beach Park, Port Allen, Polihale, Poipu, and Kokee. The commercial zoning and unit arrangement provide options for rental occupancy, owner use, or commercial use of the street-facing space, subject to applicable approvals.
Located in Hanapepe, the property is 18 miles from Lihue and is described as convenient to the Pacific Missile Range Facility workforce. Westside destinations referenced in the property information include Salt Pond Beach Park, Port Allen, Polihale, Poipu, and Kokee. The commercial zoning and unit arrangement provide options for rental occupancy, owner use, or commercial use of the street-facing space, subject to applicable approvals.
Key Highlights
- 3,700‑square‑foot triplex on a 0.2204‑acre lot
- C‑G commercial zoning with three distinct units
- Street‑facing unit includes 1 bedroom and 1 bath
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
$83,978
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
4.54%
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%
$1,679,560
$1.7M
Cap Rate 7%
$1,199,686
$1.2M
Cap Rate 9%
$933,089
$933.1K
Market Conditions
NOI Build-Up for 3,700 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
$124.3K $33.60/SF
− Vacancy
−$4.4K −$1.18/SF
EGI
$120.0K $32.42/SF
− OpEx
−$36.0K −$9.73/SF
NOI
$84.0K $22.70/SF
Area
Kauai County, HI
Vacancy
3.50%
Lease Rate
$33.60 /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%
$1,679,560
Cap Rate 7%
$1,199,686
Cap Rate 9%
$933,089
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,978 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$1.07M
$937.7K – $1.25M
NOI $75,018 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,651 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 96716, HI
2,784
Population
817
Households
3.4
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
3.9 sq mi
ZIP Area
714
Density / Sq Mi
$90,452
Median Household Income
$43,420
Median Earnings
$2,016
Median Rent
$738,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three air-conditioned units offer a flexible configuration for residential occupancy and commercial use.
Where is this triplex located?
The property is located at 3559 HANAPEPE RD Hanapepe, HI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 3,700‑square‑foot triplex on a 0.2204‑acre lot; C‑G commercial zoning with three distinct units; Street‑facing unit includes 1 bedroom and 1 bath
