Honolulu Commercial Condominium
1288 Ala Moana Boulevard Honolulu, HI 96814
For Sale
$31,000,000
Prime commercial condominium portfolio in Honolulu's vibrant Ward Village.
Property Size35,333 SF
Price / SF$877.37
Days on Market125
Property Features for 1288 Ala Moana Boulevard
General Information
- Standard status
- Active
- Size
- 35,333 SF
- Property subtype
- Retail
Properties For Sale
at 1288 Ala Moana Boulevard Contact us
Listing Agency:
(808) 541-5182
Listed By:
Matthew Bittick · License #RB-19143
(808) 541-5182
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 17 at 4:44AM
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 Matthew Bittick
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a commercial condominium portfolio consisting of five separate commercial condominium units. The property is situated at the base of a luxury high-rise adjacent to Ward Village in Honolulu, in close proximity to Ala Moana Center. The units benefit from prime visibility and consistent foot traffic. The portfolio includes approximately 37,656 square feet of space with a reputable tenant mix. The property features a stable rent roll with a weighted average lease term (WALT) of 4.47 years (11.65 years from inception). The location is characterized by a blend of residential, commercial, and recreational spaces. Ward Village is a thriving neighborhood in Kaka'ako, known for its upscale dining, shopping, and cultural attractions. The property is located approximately 2 miles from Waikiki and approximately 1.5 miles from Downtown Honolulu. The ongoing development in Ward Village and Kaka'ako presents opportunities for future appreciation and demand for commercial space. The condominium portfolio has historically been consistently 100% occupied.
Key Highlights
- Prime Location: Adjacent to Ward Village and close to Ala Moana Center, benefiting from high visibility and foot traffic.
- Stable Income Stream: Diversified tenant mix across approximately 37,656 square feet ensures a consistent and reliable income flow.
- High Credit Quality Tenants: Strong tenant credit ratings and operational history enhance the investment's financeability.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.40M | $39.72 |
| − Vacancy | −$67.4k | −$1.91 |
| EGI | $1.34M | $37.81 |
| − OpEx | −$400.8k | −$11.34 |
| NOI | $935.2k | $26.47 |
35,333 SF · lease $39.72/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$13.36M
$11.69M – $15.59M
NOI $935,244 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.31M
$12.53M – $16.70M
NOI $1,002,047 @ 7.0% cap · market cap 3.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ocean Investments, LLC
Holding Company
Magnolia White Couture ...
Clothing & Fashion Store
Jake & Ashley
Condominium Complex
PS Fortune Jade
(Bike/Boat/Book/etc) Store
Disctinctive Homes Hawaii ...
Hardware & Home Improvement
FAQs
What type of property is this?
Retail space - Prime commercial condominium portfolio in Honolulu's vibrant Ward Village.
Where is this retail space located?
The property is located at 1288 Ala Moana Boulevard Honolulu, HI.
What is the asking price?
The asking price for this property is $31,000,000.
What are key features of this property?
This property features: Prime Location: Adjacent to Ward Village and close to Ala Moana Center, benefiting from high visibility and foot traffic.; Stable Income Stream: Diversified tenant mix across approximately 37,656 square feet ensures a consistent and reliable income flow.; High Credit Quality Tenants: Strong tenant credit ratings and operational history enhance the investment's financeability.
