Kapolei Retail Space with
For Sale
$725,000
1051 Kakala Street #204, Kapolei, HI 96707
Retail space in Kapolei's Mehana community with loft and parking.
Property Size900 SF
Price / SF$805.56
Days on Market304
Property Features for 1051 Kakala Street #204
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,142
Amenities
Assigned
Concrete Flooring
Handicap Access
On Site
On Street
Building Details
Year Built
2016
Listing Agency:
CENTURY 21 ISLAND HOMES
(808) 888-7513
Listed By:
DEANNA L CORDIER · License #RS-77336
Source:
Corcoran
Added: Oct 24, 2025
Changed: Aug 23
Last Checked: Aug 23 at 7:04AM
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 CENTURY 21 ISLAND HOMES
Investment Insights
Based on property information with market context.
This retail space, zoned BMX-3, is located in the residential community of Mehana in Kapolei. The property features approximately 720 square feet of space, including a 180-square-foot second-floor loft. The space includes vaulted ceilings and textured wall treatments. It is equipped with two split-system air conditioning units, a large ceiling fan, and modern lighting fixtures. The property includes four assigned parking stalls. The building provides a private lavatory. Ownership includes access to community amenities such as parks, a pool, a recreation center, and keiki parks.
Key Highlights
- Prime retail space in the thriving Mehana community of Kapolei.
- BMX‑3 zoning suitable for a variety of business uses.
- Includes 4 assigned parking stalls.
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
$23,822
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
3.29%
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%
$476,440
$476.4K
Cap Rate 7%
$340,314
$340.3K
Cap Rate 9%
$264,689
$264.7K
Market Conditions
NOI Build-Up for 900 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
$35.7K $39.72/SF
− Vacancy
−$1.7K −$1.91/SF
EGI
$34.0K $37.81/SF
− OpEx
−$10.2K −$11.34/SF
NOI
$23.8K $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%
$476,440
Cap Rate 7%
$340,314
Cap Rate 9%
$264,689
Alternative Uses
Best Use
Retail
$340.3K
$297.8K – $397.0K
NOI $23,822 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$364.6K
$319.1K – $425.4K
NOI $25,524 @ 7.0% cap · market cap 3.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96707, HI
47,181
Population
16,554
Households
2.9
Avg Household Size
36
Median Age
34%
College-Educated
94%
High-School Grad
43.4 sq mi
ZIP Area
1,087
Density / Sq Mi
$121,409
Median Household Income
$57,269
Median Earnings
$2,551
Median Rent
$772,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in Kapolei's Mehana community with loft and parking.
Where is this retail space located?
The property is located at 1051 Kakala Street #204 Kapolei, HI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Prime retail space in the thriving Mehana community of Kapolei.; BMX‑3 zoning suitable for a variety of business uses.; Includes 4 assigned parking stalls.
