Iconic Hilo Bay Building
260 Kamehameha Avenue, Hilo, HI 96720
Historic downtown property with retail storefronts and office suites.
Type:Retail
Property size:
24,580 SFPrice / SF:
$244/SF- Added:
- Mar 25, 2026
- Days on Market:
- 59
- Last Refresh:
- Mar 18 at 9:51 am
Property Features for 260 Kamehameha Avenue
General Information
- Standard status
- Active
- Size
- 24,580 SF
- Property subtype
- Retail
Listing agent Scott A. Crockford License #RB-13508
Listing office (808) 541-5149
Listing date Mar 25, 2026
Source Cbre
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 Scott A. Crockford
HighLights
- Prime location on Kamehameha Ave. in Downtown Hilo with high visibility and foot traffic.
- Stable income with high occupancy and long‑term tenants.
- Substantial private onsite parking, a rare and highly desirable feature.
- Opportunity to increase NOI through CAM restructuring and rental rate adjustments.
- Turnkey asset with recent roof improvements.
- Home to a vibrant mix of well‑established retail, office, and food businesses.
Overview
The landmark Hilo Bay Building and American Bakery complex is an iconic and historic property featuring 250 feet of commercial storefronts. Located in the heart of Downtown, the property includes a variety of specialty businesses. Retailers are well-established along Kamehameha Ave., the prime retail shopping corridor in Downtown Hilo. The property also features an entire second floor with 10 suites of office tenants, many offering ocean views of Hilo Bay. The building hosts a mix of beauty, health, wellness, sports, and retail businesses. Two adjacent large private parking lots serve the property, making it an attractive location for locals and visitors. The Old American Bakery Building houses lunch shops. The property has high visibility and foot traffic along the Hilo Bayfront with a popular and stable tenant mix. The property offers the opportunity to increase NOI through CAM restructuring and rental rate adjustments for food operators. High occupancy with a history of stable cash flow is supported by long-term tenants and growing local demand. The property has recent roof improvements. The property size is 24580 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$5.90M
NOI $530,891 @ 9.00% cap · cautious / downside scenario
Moderate
$7.58M
NOI $530,891 @ 7.00% cap · market / base-case scenario
Aggressive
$10.62M
NOI $530,891 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $811.1k | $33.00 |
| − Vacancy | −$52.7k | −$2.15 |
| EGI | $758.4k | $30.86 |
| − OpEx | −$227.5k | −$9.26 |
| NOI | $530.9k | $21.60 |
24,580 SF · lease $33.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$7.58M
$6.64M – $8.85M
NOI $530,891 @ 7.0% cap · market cap 8.85%
Second Best
Office B
$5.00M
$4.37M – $5.83M
NOI $349,915 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$8.39M
$7.34M – $9.79M
NOI $587,206 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Kilauea WebWorks
Data Center
Foundational Wellness Clinic
Alternative Medicine Practice
Local Hawaii Real ...
Real Estate Agency
Puna Land And Homes
Real Estate Agency
Spain Bertram K
Physician
Map
- City
- Hilo
- County
- Hawaii
- State
- Hawaii
- Longitude
- -155.086217
- Latitude
- 19.725202
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FAQs
What type of property is this?
Storefront property - Historic downtown property with retail storefronts and office suites.
Where is this storefront property located?
The property is located at 260 Kamehameha Avenue Hilo, 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: Prime location on Kamehameha Ave. in Downtown Hilo with high visibility and foot traffic.; Stable income with high occupancy and long‑term tenants.; **Substantial private onsite parking**, a rare and highly desirable feature.
