Bakery Retail Building with
1005 Lower Main Street Wailuku, HI 96793
New
For Sale
$3,000,000
COMMERCIAL - Wailuku, HI
Property Size10,564 SF
Lot Size2.85 Acres
Price / SF$283.98
Days on Market3
Property Features for 1005 Lower Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 15
- Security features
- Security
- Standard status
- Active
- APN
- 2-3-8-037-049-0000
- Lot size
- 2.85 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6432
Utilities
- Utilities
- Natural Gas Available
Building Details
- Year built
- 1982
- Floors in Building
- 2
- Flooring type
- Concrete, Wood
- Building materials
- Metal Frame
Listing Agency:
Five Star Realty, Inc.
(808) 382-6871
Listed By:
Shane H Fuke · License #RS-85663
(808) 223-9919
Added: Jul 23
Last Checked: Jul 25 at 7:06AM
MLS# 202614063
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.
Investment Insights
Based on property information with market context.
Rarely available 10,564-square-foot metal frame commercial building sits on 0.721 acres and includes a history as a full-service bakery. The prior operation featured industrial walk-in freezers and refrigerators, mixers and ovens, and commercial stainless-steel kitchen components. The building also includes approximately 1,200 square feet of existing retail space on the bottom floor with office space mezzanine directly above. It is currently leased on a one-year term with an option to renew for an additional year.
The offering includes adjacent vacant land of 2.127 acres, and together the parcels are zoned B-2 Business-Community and A-2 Apartment. The property has approximately 625 linear feet of Lower Main Street frontage and includes 15 paved parking stalls, with additional parking available on the adjacent vacant land.
A total of 200 solar panels rated at 345W each are owned and installed in 2017, producing 57.6 kW (AC) to help offset electric bills.
The offering includes adjacent vacant land of 2.127 acres, and together the parcels are zoned B-2 Business-Community and A-2 Apartment. The property has approximately 625 linear feet of Lower Main Street frontage and includes 15 paved parking stalls, with additional parking available on the adjacent vacant land.
A total of 200 solar panels rated at 345W each are owned and installed in 2017, producing 57.6 kW (AC) to help offset electric bills.
Key Highlights
- 10,564 sq ft metal frame building with 23 ft ceilings on 0.721 acres at 1005 Lower Main Street (TMK 049).
- Lower Main Street frontage of approximately 625 linear ft for high traffic access.
- Adjacent vacant land of 2.127 acres at 955 Lower Main Street (TMK 048), with B‑2 and A‑2 zoning (2 parcels included).
Financial Insights For Retail
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 | $380.3k | $36.00 |
| − Vacancy | −$19.8k | −$1.87 |
| EGI | $360.5k | $34.13 |
| − OpEx | −$108.2k | −$10.24 |
| NOI | $252.4k | $23.89 |
10,564 SF · lease $36.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$4.27M
$3.74M – $4.99M
NOI $299,143 @ 7.0% cap · market cap 9.97%
Second Best
Retail
$3.61M
$3.15M – $4.21M
NOI $252,370 @ 7.0% cap · market cap 8.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial kitchens
FAQs
What type of property is this?
Commercial kitchen - Rarely available metal-frame building with existing retail, office mezzanine, and commercial kitchen improvements.
Where is this commercial kitchen located?
The property is located at 1005 Lower Main Street Wailuku, HI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10,564 sq ft metal frame building with 23 ft ceilings on 0.721 acres at 1005 Lower Main Street (TMK 049).; Lower Main Street frontage of approximately 625 linear ft for high traffic access.; Adjacent vacant land of 2.127 acres at 955 Lower Main Street (TMK 048), with B‑2 and A‑2 zoning (2 parcels included).
