Building Details

Year Built 2016

Buildings 1

Stories 2

Listing Agency: Coldwell Banker Island Properties

Listed By: Paula Beamer · License #RB-16191 Show Phone

Source: Crexi

Added: Nov 11, 2022 Changed: Oct 12 Last Checked: Oct 16 at 6:31AM

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Investment Insights

Based on property information with market context.

This 3,236-square-foot commercial building, constructed in 2016, is currently configured as a restaurant and bar. The interior includes a custom bar and furnishings, pizza oven, walk-in refrigerator and freezer, kitchen frontage with marble columns, office space, and storage. Exterior materials include wood, concrete block, and travertine tile. The property also has three-phase electrical service, a backup generator, plumbed propane, and employee parking below the business.

Located at 45-3580 Mamane St in downtown Honokaa, the property is next to Honokaa Peoples Theatre and near retail stores. Ample street parking serves the site. The building includes ADA-compliant men's and women's restrooms, and the B-2 liquor license permits music, live entertainment, and dancing. CV-10 zoning applies to the property, with permitted uses and inventory detailed in the associated addenda.

Key Highlights

• 3,236 SF commercial building constructed in 2016
• Current restaurant and bar configuration with custom furnishings
• Pizza oven, walk‑in refrigerator and freezer, office, and storage areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,307

Cap Rate

7.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,546,140 $1.5M

Cap Rate 7%

$1,104,386 $1.1M

Cap Rate 9%

$858,967 $859.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,236 SF

Gross rent

$108.7K $33.60/SF

− Vacancy

−$5.7K −$1.75/SF

EGI

$103.1K $31.85/SF

− OpEx

−$25.8K −$7.96/SF

NOI

$77.3K $23.89/SF

Area

Hawaii County, HI

Vacancy

5.20%

Lease Rate

$33.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,546,140

Cap Rate 7%

$1,104,386

Cap Rate 9%

$858,967

Alternative Uses

Best Use

Specialty Retail

$1.10M

$966.3K – $1.29M (±1% cap)

NOI $77,307 @ 7.0% cap · market cap 7.08%

Second Best

Industrial

$598.5K

$523.7K – $698.3K (±1% cap)

NOI $41,896 @ 7.0% cap · market cap 3.84%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Cafe il Mondo Restaurant

Lease Details

Turnkey business

Opportunity

Yes

Utilities to site

Location Intelligence

Demographics for 96727, HI

4,990

Population

1,642

Households

3

Avg Household Size

45

Median Age

24%

College-Educated

91%

High-School Grad

189.5 sq mi

ZIP Area

26

Density / Sq Mi

$83,534

Median Household Income

$37,124

Median Earnings

$1,218

Median Rent

$559,900

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Three-phase power, propane service, and a backup generator support ongoing commercial operations.

Where is this conventional restaurant located?

The property is located at 45-3580 MAMANE ST Honokaa, HI.

What is the asking price?

The asking price for this property is $1,092,000.

What are key features of this property?

This property features: 3,236 SF commercial building constructed in 2016; Current restaurant and bar configuration with custom furnishings; Pizza oven, walk‑in refrigerator and freezer, office, and storage areas