Medical Office Suite with Exam
For Sale
$229,000
405 N Kuakini St Unit 610, Honolulu, HI 96817
Well-maintained medical office suite featuring four exam rooms plus waiting and administrative space.
Property Size924 SF
Price / SF$247.84
Days on Market93
Property Features for 405 N Kuakini St Unit 610
General Information
Standard status
Active
Size
924 SF
Total Parking Spaces
1
Building Details
Year Built
1998
Listing Agency:
Marcus Realty
Listed By:
Peter M Lee · License #RB-13464
(808) 487-6998
Source:
Paradisebrokers
Added: Jun 22
Changed: Sep 12
Last Checked: Sep 21 at 11:39AM
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 Marcus Realty
Investment Insights
Based on property information with market context.
This well-maintained medical office suite is located within the Kuakini Physicians Tower and is designed for physician-related use. The unit includes four exam rooms, a doctor’s office, a waiting area, and administrative space.
The suite is offered for sale as a unit within the building, and it comes with one assigned parking space in the building conveyed with the unit. Use of the unit must be physician related, and details should be confirmed with the listing agent.
For clinicians and medical practices seeking dedicated in-office workflow, the existing exam room layout and separate doctor and administrative areas can support day-to-day patient visits and internal operations. The waiting area and physician-related use requirement align the space with typical office-based healthcare needs.
The suite is offered for sale as a unit within the building, and it comes with one assigned parking space in the building conveyed with the unit. Use of the unit must be physician related, and details should be confirmed with the listing agent.
For clinicians and medical practices seeking dedicated in-office workflow, the existing exam room layout and separate doctor and administrative areas can support day-to-day patient visits and internal operations. The waiting area and physician-related use requirement align the space with typical office-based healthcare needs.
Key Highlights
- Medical office suite in the Kuakini Physicians Tower
- Four exam rooms plus a waiting area and administrative area
- Includes a doctor's office
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
$16,672
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
7.28%
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%
$333,440
$333.4K
Cap Rate 7%
$238,171
$238.2K
Cap Rate 9%
$185,244
$185.2K
Market Conditions
NOI Build-Up for 924 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
$31.0K $33.60/SF
− Vacancy
−$3.3K −$3.53/SF
EGI
$27.8K $30.07/SF
− OpEx
−$11.1K −$12.03/SF
NOI
$16.7K $18.04/SF
Area
Honolulu County, HI
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$333,440
Cap Rate 7%
$238,171
Cap Rate 9%
$185,244
Alternative Uses
Best Use
Office B
$337.8K
$295.6K – $394.2K
NOI $23,649 @ 7.0% cap · market cap 10.33%
Second Best
Healthcare Medical
$238.2K
$208.4K – $277.9K
NOI $16,672 @ 7.0% cap · market cap 7.28%
Theoretical Best
Specialty Retail
$374.4K
$327.6K – $436.8K
NOI $26,205 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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 - Well-maintained medical office suite featuring four exam rooms plus waiting and administrative space.
Where is this medical office space located?
The property is located at 405 N Kuakini St Unit 610 Honolulu, HI.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Medical office suite in the Kuakini Physicians Tower; Four exam rooms plus a waiting area and administrative area; Includes a doctor's office
