Mixed-Use Retail and Office
For Sale
$9,500,000
75-1000 Henry St, Kailua Kona, HI 96740
Two floors offer Class A office space, underground parking, elevator access, and a full-floor fitness facility.
Property Size33,598 SF
Price / SF$282.75
Days on Market564
Property Features for 75-1000 Henry St
General Information
Standard status
Active
Size
33,598 SF
Class
Class A
Elevators
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$89,584
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Joel K. LaPinta
Listed By:
Joel K. LaPinta · License #RB-14261
(808) 987-3544
Source:
Exprealty
Added: Apr 1, 2025
Changed: Oct 10
Last Checked: Oct 16 at 1:28PM
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 Joel K. LaPinta
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Investment Insights
Based on property information with market context.
Located at 75-1000 Henry St in Kailua-Kona, this mixed-use commercial building combines retail and office components across two floors. The first floor is occupied entirely by Planet Fitness, while the second floor contains Class A office space. Underground parking is available through elevator access.
The property sits at a signalized corner with frontage along Queen Ka’ahumanu Highway, also designated State Highway 11. It is across from a Walmart-anchored shopping center on Henry Street and diagonally positioned from a Safeway-anchored shopping center.
Planet Fitness has more than seven years remaining on its lease, with a 12% rent increase every four years and three five-year renewal options. The ground lease has more than 33 years remaining, with terms extending through December 2059.
The property sits at a signalized corner with frontage along Queen Ka’ahumanu Highway, also designated State Highway 11. It is across from a Walmart-anchored shopping center on Henry Street and diagonally positioned from a Safeway-anchored shopping center.
Planet Fitness has more than seven years remaining on its lease, with a 12% rent increase every four years and three five-year renewal options. The ground lease has more than 33 years remaining, with terms extending through December 2059.
Key Highlights
- Two‑floor mixed‑use building with retail and office space
- Planet Fitness occupies the entire first floor
- Class A office space on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$725,666
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,513,320
$14.5M
Cap Rate 7%
$10,366,657
$10.4M
Cap Rate 9%
$8,062,956
$8.1M
Market Conditions
NOI Build-Up for 33,598 SF
Gross rent
$1.11M $33.00/SF
− Vacancy
−$72.1K −$2.15/SF
EGI
$1.04M $30.86/SF
− OpEx
−$311.0K −$9.26/SF
NOI
$725.7K $21.60/SF
Area
Hawaii County, HI
Vacancy
6.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,513,320
Cap Rate 7%
$10,366,657
Cap Rate 9%
$8,062,956
Alternative Uses
Best Use
Retail
$10.37M
$9.07M – $12.09M
NOI $725,666 @ 7.0% cap · market cap 7.64%
Second Best
Mixed Use
$9.06M
$7.93M – $10.57M
NOI $634,057 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$11.47M
$10.03M – $13.38M
NOI $802,643 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Demographics for 96740, HI
38,234
Population
19,119
Households
2
Avg Household Size
45
Median Age
35%
College-Educated
94%
High-School Grad
242.4 sq mi
ZIP Area
158
Density / Sq Mi
$94,091
Median Household Income
$42,605
Median Earnings
$1,692
Median Rent
$730,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two floors offer Class A office space, underground parking, elevator access, and a full-floor fitness facility.
Where is this mixed-use property located?
The property is located at 75-1000 Henry St Kailua Kona, HI.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Two‑floor mixed‑use building with retail and office space; Planet Fitness occupies the entire first floor; Class A office space on the second floor
