Hilo Lagoon Center Office
For Sale
$140,000
105-101 Aupuni St, Hilo, HI 96720
Air-conditioned office space with pond view in Hilo.
Property Size308 SF
Price / SF$454.55
Days on Market521
Property Features for 105-101 Aupuni St
General Information
Standard status
Active
Size
308 SF
Taxes and HOA fees
Annual Taxes
$1,381
Listing Agency:
Sunrise Properties LLC
(808) 895-4905
Listed By:
Terry Schoneberg · License #RB-10209
(808) 895-4905
Source:
Exprealty
Added: Mar 7, 2025
Changed: Aug 8
Last Checked: Aug 9 at 11:53AM
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 Sunrise Properties LLC
Investment Insights
Based on property information with market context.
This 308 square foot office space is located in the Hilo Lagoon Center. The unit features central air conditioning with a new handler. A sink has recently been installed. The property overlooks a koi pond. The building provides 24/7 security and is situated next to a park and a state building. The property is vacant and easy to show.
Key Highlights
- Fully air conditioned with central AC and NEW handler
- 24/7 building security
- Prime location next to State Building in Hilo Lagoon Center
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
$4,385
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
3.13%
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%
$87,700
$87.7K
Cap Rate 7%
$62,643
$62.6K
Cap Rate 9%
$48,722
$48.7K
Market Conditions
NOI Build-Up for 308 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
$6.8K $22.20/SF
− Vacancy
−$991 −$3.22/SF
EGI
$5.8K $18.98/SF
− OpEx
−$1.5K −$4.75/SF
NOI
$4.4K $14.24/SF
Area
Hawaii County, HI
Vacancy
14.50%
Lease Rate
$22.20 /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%
$87,700
Cap Rate 7%
$62,643
Cap Rate 9%
$48,722
Alternative Uses
Best Use
Office B
$62.6K
$54.8K – $73.1K
NOI $4,385 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$105.1K
$92.0K – $122.6K
NOI $7,358 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Air-conditioned office space with pond view in Hilo.
Where is this office units located?
The property is located at 105-101 Aupuni St Hilo, HI.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Fully air conditioned with central AC and NEW handler; 24/7 building security; Prime location next to State Building in Hilo Lagoon Center
