Corner Retail and Office
For Sale
$1,990,000
102 N King Street, Honolulu, HI 96817
Corner mixed-use building with street-level retail and upstairs office space, including an interior elevator.
Property Size3,720 SF
Days on Market97
Property Features for 102 N King Street
General Information
Standard status
Active
Size
3,720 SF
Zoning
34 - BMX-4 Central Business Mix
Lease Term
Month To Month
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$12,804
Amenities
PrivateRestrooms
Building Details
Building Size
3,720 SF
Year Built
1949
Stories
2
Tenancy
Multi
Listing Agency:
INTEGRITY LLC
Listed By:
Kelfred KC Chang
(808) 306-4584
Source:
Evrealestate
Added: Jun 1
Changed: Aug 23
Last Checked: Sep 4 at 3:03AM
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 INTEGRITY LLC
Investment Insights
Based on property information with market context.
This corner commercial building is configured with two retail businesses on the first floor. The second floor provides three office spaces, and there is additional mezzanine storage. An interior elevator connects the street level to the second floor. The basement is not usable, and the property is offered as-is, with the current unit tenant occupied; please do not disturb tenants.
The building is located in Honolulu’s Chinatown special district at the corner of North King and Maunakea. It presents a mixed-use street-facing arrangement with dedicated retail space below and professional office use above, supported by the building’s interior elevator.
For tenants, the layout supports both retail and office operations within the same asset. For buyers, the property offers a vertical mixed-use configuration with on-site retail and office space, along with mezzanine storage, while noting that the basement is not usable and the sale is in as-is condition with tenant occupancy in place.
The building is located in Honolulu’s Chinatown special district at the corner of North King and Maunakea. It presents a mixed-use street-facing arrangement with dedicated retail space below and professional office use above, supported by the building’s interior elevator.
For tenants, the layout supports both retail and office operations within the same asset. For buyers, the property offers a vertical mixed-use configuration with on-site retail and office space, along with mezzanine storage, while noting that the basement is not usable and the sale is in as-is condition with tenant occupancy in place.
Key Highlights
- Corner mixed‑use building (1949) in the Chinatown special district at North King and Maunakea
- Interior elevator provides access to the 2nd floor
- First floor features 2 street‑level retail business spaces
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
$98,466
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
4.95%
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%
$1,969,320
$2.0M
Cap Rate 7%
$1,406,657
$1.4M
Cap Rate 9%
$1,094,067
$1.1M
Market Conditions
NOI Build-Up for 3,720 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
$147.8K $39.72/SF
− Vacancy
−$7.1K −$1.91/SF
EGI
$140.7K $37.81/SF
− OpEx
−$42.2K −$11.34/SF
NOI
$98.5K $26.47/SF
Area
Honolulu County, HI
Vacancy
4.80%
Lease Rate
$39.72 /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%
$1,969,320
Cap Rate 7%
$1,406,657
Cap Rate 9%
$1,094,067
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,466 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$1.36M
$1.19M – $1.59M
NOI $95,209 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,499 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
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?
Storefront property - Corner mixed-use building with street-level retail and upstairs office space, including an interior elevator.
Where is this storefront property located?
The property is located at 102 N King Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Corner mixed‑use building (1949) in the Chinatown special district at North King and Maunakea; Interior elevator provides access to the 2nd floor; First floor features 2 street‑level retail business spaces
