Chinatown Mixed-Use Building For
For Sale
$2,999,000
905 Kekaulike St, Honolulu, HI 96817
Mixed-use building in Honolulu's Chinatown, near planned rail station.
Property Size12,833 SF
Lot Size0.18 Acres
Price / SF$233.69
Days on Market193
Property Features for 905 Kekaulike St
General Information
Standard status
Active
Size
12,833 SF
Lot size
0.18 Acres
Building Details
Year Built
1930
Listing Agency:
I2C Realty, Ltd.
Listed By:
Ronald YK Lee · License #RB-18197
(808) 224-1300
Source:
Paradisebrokers
Added: Mar 27
Changed: Sep 5
Last Checked: Oct 4 at 12:15PM
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.
Located at 905 Kekaulike St. in Honolulu, HI, this mixed-use property features approximately 12,833 square feet of building space on a 7,721 square foot fee simple land parcel. Constructed in 1930, the concrete building is situated in the Chinatown Special District, offering prime visibility at the corner of Nimitz Highway and Kekaulike St. The property is zoned BMX4 Central Business Mixed Use, with an 80-foot height limit. It is also located within the Downtown Neighborhood Transit Oriented Development (TOD) plan, adopted by the City Council on 9/6/17, which proposes a 200-foot height limit and a 4.0 to 7.5 Floor Area Ratio. Potential harbor and ocean views may be possible. The property is located across the street from the planned Chinatown rail station. The tax assessor's office indicates approximately 5,392 square feet on the 1st floor, 2,049 square feet on the mezzanine, and 5,392 square feet on the 2nd floor. The property is located in Chinatown's historic district. Occupants include a bar and residences. The property is to be sold in its existing 'as is' condition.
Key Highlights
- Prime visibility frontage at the corner of Nimitz Highway and Kekaulike St. in the Chinatown Special District.
- BMX4 Central Business Mixed Use zoning with 80' height limit.
- Located across the street from planned Chinatown rail station.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$235,290
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,705,800
$4.7M
Cap Rate 7%
$3,361,286
$3.4M
Cap Rate 9%
$2,614,333
$2.6M
Market Conditions
NOI Build-Up for 12,833 SF
Gross rent
$462.0K $36.00/SF
− Vacancy
−$34.2K −$2.66/SF
EGI
$427.8K $33.34/SF
− OpEx
−$192.5K −$15.00/SF
NOI
$235.3K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,705,800
Cap Rate 7%
$3,361,286
Cap Rate 9%
$2,614,333
Alternative Uses
Best Use
Retail
$4.85M
$4.25M – $5.66M
NOI $339,682 @ 7.0% cap · market cap 11.33%
Second Best
Office B
$4.69M
$4.11M – $5.47M
NOI $328,445 @ 7.0% cap · market cap 10.95%
Theoretical Best
Specialty Retail
$5.20M
$4.55M – $6.07M
NOI $363,945 @ 7.0% cap · market cap 12.14%
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building in Honolulu's Chinatown, near planned rail station.
Where is this mixed-use property located?
The property is located at 905 Kekaulike St Honolulu, HI.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Prime visibility frontage at the corner of Nimitz Highway and Kekaulike St. in the Chinatown Special District.; BMX4 Central Business Mixed Use zoning with 80' height limit.; Located across the street from planned Chinatown rail station.
