Office Units with Separate
New
For Sale
$429,000
101 AUPUNI ST #128 129, Hilo, HI 96720
Two connected office units offer a five-office layout, a kitchen, and a bathroom with a shower.
Property Size1,518 SF
Price / SF$282.61
Days on Market4
Property Features for 101 AUPUNI ST #128 129
General Information
Standard status
Active
Size
1,518 SF
Total Parking Spaces
4
Property subtype
Commercial
Additional Details
HOA Fee
$1,881
Office Units
2
Amenities
separate entrance doors
private offices
kitchen
bathroom with a shower
Central air
Assigned
Central Air Cooling
Unassigned
Building Details
Year Built
1971
Listing Agency:
COLDWELL BANKER ISLAND PROPERTIES - HILO
(808) 969-7863
Listed By:
GLENN M. TAKASE · License #RB-18547
(808) 936-0692
Source:
Corcoran
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER ISLAND PROPERTIES - HILO
Investment Insights
Based on property information with market context.
At Hilo Lagoon Centre, these two office units provide 1,518 square feet of space with separate entrance doors. The interior includes five private offices, a kitchen, and a bathroom with a shower. The units are vacant and described as usable in their current condition.
Parking includes two reserved stalls and two floating stalls. Common-area charges cover electricity, water, sewer, and a reserve fund assessment. The sale also includes parcel 3/2-2-14:010-2526.
Parking includes two reserved stalls and two floating stalls. Common-area charges cover electricity, water, sewer, and a reserve fund assessment. The sale also includes parcel 3/2-2-14:010-2526.
Key Highlights
- 1,518 square feet across two office units
- Five private offices, a kitchen, and a bathroom with a shower
- Separate entrance doors allow the units to be used by two businesses
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
$21,610
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
5.04%
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%
$432,200
$432.2K
Cap Rate 7%
$308,714
$308.7K
Cap Rate 9%
$240,111
$240.1K
Market Conditions
NOI Build-Up for 1,518 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
$33.7K $22.20/SF
− Vacancy
−$4.9K −$3.22/SF
EGI
$28.8K $18.98/SF
− OpEx
−$7.2K −$4.75/SF
NOI
$21.6K $14.24/SF
Area
Hawaii County, HI
Vacancy
14.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$432,200
Cap Rate 7%
$308,714
Cap Rate 9%
$240,111
Alternative Uses
Best Use
Office B
$308.7K
$270.1K – $360.2K
NOI $21,610 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$518.1K
$453.3K – $604.4K
NOI $36,264 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
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
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Frequently Asked Questions
What type of property is this?
Office units - Two connected office units offer a five-office layout, a kitchen, and a bathroom with a shower.
Where is this office units located?
The property is located at 101 AUPUNI ST #128 129 Hilo, HI.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 1,518 square feet across two office units; Five private offices, a kitchen, and a bathroom with a shower; Separate entrance doors allow the units to be used by two businesses
