Fully Rented Mixed-Use
For Sale
$6,000,000
915 Kekaulike St, Honolulu, HI 96817
Three-story building in Chinatown, close to planned rail station.
Property Size31,641 SF
Price / SF$189.63
Days on Market252
Property Features for 915 Kekaulike St
General Information
Standard status
Active
Size
31,641 SF
Building Details
Year Built
1921
Listing Agency:
I2C Realty, Ltd.
Listed By:
Ronald YK Lee · License #RB-18197
(808) 224-1300
Source:
Paradisebrokers
Added: Jan 26
Changed: Sep 14
Last Checked: Oct 4 at 2:10PM
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 I2C Realty, Ltd.
Investment Insights
Based on property information with market context.
This fully rented, three-story concrete building features both passenger and freight elevators, heavy electricity, sprinklers, and air conditioning. An overhead rollup door provides additional access. The building has a total area of 30,522 square feet, with 10,040 square feet on the first floor (6,122 square feet classified for storage or packaging), 11,079 square feet on the second floor, and 9,403 square feet on the third floor. The property is located in the Chinatown Special and Historic District and is zoned BMX4 Central Business Mixed, with an 80-foot height limit. It is situated across the street from a planned Chinatown rail station and the desired Kekaulike Mall extension. The City Council adopted Transit Oriented Development (TOD) plan proposes a 200-foot height limit and a 4.0 to 7.5 Floor Area Ratio. Potential uses include housing, retail, restaurants, and art lofts. The adjacent property at 905 Kekaulike St. is also for sale.
Key Highlights
- $1 Million Price Reduction makes this a fantastic opportunity.
- Fully Rented, 3‑Story Concrete Building with 30,522 sq ft.
- BMX4 Zoning with Transit Oriented Development (TOD) potential: Possible 200' Height Limit & Increased Floor Area Ratio.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$545,807
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,916,140
$10.9M
Cap Rate 7%
$7,797,243
$7.8M
Cap Rate 9%
$6,064,522
$6.1M
Market Conditions
NOI Build-Up for 31,641 SF
Gross rent
$949.2K $30.00/SF
− Vacancy
−$75.9K −$2.40/SF
EGI
$873.3K $27.60/SF
− OpEx
−$327.5K −$10.35/SF
NOI
$545.8K $17.25/SF
Area
Honolulu County, HI
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,916,140
Cap Rate 7%
$7,797,243
Cap Rate 9%
$6,064,522
Alternative Uses
Best Use
Retail
$11.96M
$10.47M – $13.96M
NOI $837,519 @ 7.0% cap · market cap 13.96%
Second Best
Office B
$11.57M
$10.12M – $13.50M
NOI $809,812 @ 7.0% cap · market cap 13.50%
Theoretical Best
Specialty Retail
$12.82M
$11.22M – $14.96M
NOI $897,341 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story building in Chinatown, close to planned rail station.
Where is this mixed-use property located?
The property is located at 915 Kekaulike St Honolulu, HI.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: $1 Million Price Reduction makes this a fantastic opportunity.; Fully Rented, 3‑Story Concrete Building with 30,522 sq ft.; BMX4 Zoning with Transit Oriented Development (TOD) potential: Possible 200' Height Limit & Increased Floor Area Ratio.
