Built-Out Office with Multiple
For Sale
$575,000
98-1247 Kaahumanu Street Unit 311, Aiea, HI 96701
Office unit with multiple suites, wet bar, and restroom.
Property Size1,143 SF
Price / SF$503.06
Days on Market208
Property Features for 98-1247 Kaahumanu Street Unit 311
General Information
Standard status
Active
Size
1,143 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$7,681
Amenities
Central Air
3
Other
124955.0
City Road.
Building Details
Year Built
1974
Listing Agency:
Coldwell Banker Comm Realty
(808) 392-1906
Listed By:
Andriana Honda · License #RS86471
(808) 351-6097
Source:
Xome
Added: Feb 9
Changed: Sep 4
Last Checked: Sep 5 at 3:57AM
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 Comm Realty
Investment Insights
Based on property information with market context.
This fully built-out office unit features four suites, a wet bar, a private restroom, and a reception/waiting area. The unit also benefits from having two entrances. It is located within the Mary Savio Medical Plaza, which is a collective of independent, multidisciplinary healthcare practitioners and professionals in Hawaii. The property is suitable for commercial real estate use, including office units and medical office space.
Key Highlights
- Fully built‑out office space ready for immediate occupancy.
- Located in Mary Savio Medical Plaza, a hub for healthcare professionals.
- Includes 4 suites, a wet bar, and a private restroom.
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
$29,254
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
5.09%
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%
$585,080
$585.1K
Cap Rate 7%
$417,914
$417.9K
Cap Rate 9%
$325,044
$325.0K
Market Conditions
NOI Build-Up for 1,143 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
$44.6K $39.00/SF
− Vacancy
−$5.6K −$4.88/SF
EGI
$39.0K $34.13/SF
− OpEx
−$9.8K −$8.53/SF
NOI
$29.3K $25.59/SF
Area
Honolulu County, HI
Vacancy
12.50%
Lease Rate
$39.00 /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%
$585,080
Cap Rate 7%
$417,914
Cap Rate 9%
$325,044
Alternative Uses
Best Use
Office B
$417.9K
$365.7K – $487.6K
NOI $29,254 @ 7.0% cap · market cap 5.09%
Second Best
Healthcare Medical
$294.6K
$257.8K – $343.7K
NOI $20,623 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$463.1K
$405.2K – $540.3K
NOI $32,416 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96701, HI
42,833
Population
15,407
Households
2.8
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
25.3 sq mi
ZIP Area
1,693
Density / Sq Mi
$107,888
Median Household Income
$58,224
Median Earnings
$1,930
Median Rent
$913,300
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 - Office unit with multiple suites, wet bar, and restroom.
Where is this office units located?
The property is located at 98-1247 Kaahumanu Street Unit 311 Aiea, HI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fully built‑out office space ready for immediate occupancy.; Located in Mary Savio Medical Plaza, a hub for healthcare professionals.; Includes **4 suites**, a **wet bar**, and a **private restroom**.
