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    81-6587 Mamalahoa Highway Kealakekua, HI 96750

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    For Sale
    $275,000

    Commercial property with three units, ideal for owner-user or investor.

    Type:OFC
    Added:
    Aug 21, 2023
    Days on Market:
    962
    Last Refresh:
    Apr 3 at 5:04 am

    Property Features for 81-6587 Mamalahoa Highway

    General Information

    Standard status
    Active
    Property subtype
    OFC

    We can help!

    Listing Contact
    Chiaki Yamada
    Chiaki Yamada

    Listing agent Chiaki Yamada License #RB-23465, Hawaii

    Listing office KW Commercial | KW Big Island | Chiaki Yamada

    Listing date Aug 21, 2023

    Source Realnex

    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 KW Commercial | KW Big Island | Chiaki Yamada

    Overview

    Kealakekua Commercial Units For Sale

    This commercial property presents a convenient location and a great opportunity for either an owner-user or an investor looking to serve the Kealakekua and Captain Cook community. Situated in the Pualani Terrace complex, the property fronts Mamalahoa Highway and is located less than a mile from Kona Hospital, placing it in the heart of Kealakekua Village at an elevation of approximately 1,500 ft. Located on the ground level of the two-story Building C, the property features three individual commercial units, each with its own large double glass door entrance. The units boast open beam high ceilings and large windows that allow for ample natural light. Currently, one unit is rented, while the other two are vacant. One of the units also includes a large storage space. Ample parking is available in the upper portion of the complex. There is one shared bathroom in the downstairs area of Building C. The CAM charges cover sewer, trash pick-up, and maintenance of the grounds and common areas. The current tenant is Swami's Healing Arts, and previous tenants have included businesses in body therapy, psychology, and chiropractic care. This space is suitable for a health and wellness provider but can be adapted for various other uses. The Pualani Terrace business complex is split zoned A-5a and CV-10 and currently houses a restaurant, massage business, day spa, and eye clinic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sabra Della Lucia Marriage Or Relationship Counselor Jeffrey W. Cumes, ... Physician Hawaii Intake Services ... State Government Office Paroling Authority Probation Office Eyeland EyeDoc Physician

    Map

    City
    Kealakekua
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.919567
    Latitude
    19.50434

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    FAQs

    What type of property is this?
    Office units - Commercial property with three units, ideal for owner-user or investor.
    Where is this office units located?
    The property is located at 81-6587 Mamalahoa Highway Kealakekua, HI.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Prime commercial location in the heart of Kealakekua Village, under a mile from Kona Hospital.; Three individual commercial units with separate entrances, offering flexibility for owner‑user or investor.; High ceilings and large windows provide ample natural light.
    (808) 937-6789
    We can help!
    Listing Contact
    Chiaki Yamada
    Chiaki Yamada
    Real Estate License ID: RB-23465, Hawaii
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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