Former Bank Building in
For Sale
$850,000
81-6644 Hawaii Belt Rd, Kealakekua, HI 96750
Former bank building with upgraded septic and paved parking.
Property Size1,968 SF
Price / SF$431.91
Days on Market492
Property Features for 81-6644 Hawaii Belt Rd
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Office
Amenities
3
CV-10
Parking.
Other Parking.
Ocean
Private Roads, Paved Road.
Building Details
Year Built
1977
Listing Agency:
Kona Coast Realty Corporation
(808) 960-6969
Listed By:
Susan Aronson
(808) 960-6969
Source:
Xome
Added: Apr 19, 2025
Changed: Aug 23
Last Checked: Aug 23 at 6:27AM
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 Kona Coast Realty Corporation
Investment Insights
Based on property information with market context.
The property is a former American Savings Bank building located in Kealakekua. The 1968 square foot building has possibilities for various uses and businesses. It features an upgraded septic system and lots of paved parking. The building is currently vacant.
Key Highlights
- Upgraded septic system
- Lots of paved parking
- Former American Savings Bank building
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
$47,015
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
5.53%
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%
$940,300
$940.3K
Cap Rate 7%
$671,643
$671.6K
Cap Rate 9%
$522,389
$522.4K
Market Conditions
NOI Build-Up for 1,968 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
$66.1K $33.60/SF
− Vacancy
−$3.4K −$1.75/SF
EGI
$62.7K $31.85/SF
− OpEx
−$15.7K −$7.96/SF
NOI
$47.0K $23.89/SF
Area
Hawaii County, HI
Vacancy
5.20%
Lease Rate
$33.60 /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%
$940,300
Cap Rate 7%
$671,643
Cap Rate 9%
$522,389
Alternative Uses
Best Use
Specialty Retail
$671.6K
$587.7K – $783.6K
NOI $47,015 @ 7.0% cap · market cap 5.53%
Second Best
Retail
$607.2K
$531.3K – $708.4K
NOI $42,506 @ 7.0% cap · market cap 5.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96750, HI
3,806
Population
1,220
Households
3.1
Avg Household Size
47
Median Age
28%
College-Educated
89%
High-School Grad
19.8 sq mi
ZIP Area
192
Density / Sq Mi
$86,293
Median Household Income
$42,024
Median Earnings
$1,076
Median Rent
$613,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Former bank building with upgraded septic and paved parking.
Where is this bank located?
The property is located at 81-6644 Hawaii Belt Rd Kealakekua, HI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Upgraded septic system; Lots of paved parking; Former American Savings Bank building
