Medical Office Space with
For Sale
$2,280,000
126 PUUHONU WAY, Hilo, HI 96720
Commercial Sale, Hilo, HI
Property Size4,557 SF
Lot Size0.23 Acres
Price / SF$500.33
Days on Market476
Property Features for 126 PUUHONU WAY
General Information
Property type
Residential
Property subtype
Office
Zoning
CN-10
Bathrooms
3
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Parking features
Covered
Subdivision
PUNAHOA 1ST & 2ND
Lot features
Cleared
View
Ocean
Standard status
Active
APN
3230350290000
Size
4,557 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
12376
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Water source
Public
Amenities
ADA accessible
reception area
conference room
doctor's offices
6 examination rooms
staff room
kithen
Building Details
Year built
1995
Floors in Building
2
Number of units
1
Listing Agency:
Pacific Image Properties
(808) 870-1009
Listed By:
Tony Wang
(808) 386-5548
Added: Jun 17, 2025
Changed: Sep 30
Last Checked: Oct 5 at 5:06PM
MLS# 721952
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,557-square-foot medical office property includes an elevator and ADA-accessible design. The interior provides a reception area, conference room, doctors’ offices, 6 examination rooms, a staff room, kitchen, and 3 bathrooms. The building was constructed in 1995 and is zoned CN-10.
Parking is available on site and along the street, with covered parking included among the property features. Public water service, septic sewer, and cable availability are also reported for the property. The site encompasses 0.23 acres in Hilo, Hawaii.
Parking is available on site and along the street, with covered parking included among the property features. Public water service, septic sewer, and cable availability are also reported for the property. The site encompasses 0.23 acres in Hilo, Hawaii.
Key Highlights
- 4,557‑square‑foot medical office building
- 6 examination rooms plus doctors’ offices
- Elevator and ADA‑accessible design
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,872
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,297,440
$1.3M
Cap Rate 7%
$926,743
$926.7K
Cap Rate 9%
$720,800
$720.8K
Market Conditions
NOI Build-Up for 4,557 SF
Gross rent
$101.2K $22.20/SF
− Vacancy
−$14.7K −$3.22/SF
EGI
$86.5K $18.98/SF
− OpEx
−$21.6K −$4.75/SF
NOI
$64.9K $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 Rate 5%
$1,297,440
Cap Rate 7%
$926,743
Cap Rate 9%
$720,800
Alternative Uses
Best Use
Office B
$926.7K
$810.9K – $1.08M
NOI $64,872 @ 7.0% cap · market cap 2.85%
Second Best
Healthcare Medical
$900.6K
$788.1K – $1.05M
NOI $63,045 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.81M
NOI $108,865 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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?
Medical Office Space - ADA-accessible medical facility with treatment rooms, professional work areas, and covered parking.
Where is this medical office space located?
The property is located at 126 PUUHONU WAY Hilo, HI.
What is the asking price?
The asking price for this property is $2,280,000.
What are key features of this property?
This property features: 4,557‑square‑foot medical office building; 6 examination rooms plus doctors’ offices; Elevator and ADA‑accessible design
