Village Storefront with
For Sale
$349,950
15-2883 PAHOA VILLAGE RD, Pahoa, HI 96778
Three occupied commercial spaces combine customer parking, service-oriented layouts, and a landscaped rear garden setting.
Property Size1,144 SF
Price / SF$305.90
Days on Market15
Property Features for 15-2883 PAHOA VILLAGE RD
General Information
Standard status
Active
Size
1,144 SF
Property subtype
Commercial
Zoning
CV-10
Taxes and HOA fees
Annual Taxes
$2,955
Amenities
full bathroom
plumbed for kitchen
shared Washer/Dryer
laundry sink
private large covered lanai and sitting area
garden path
mature Hapu'u ferns and Anthuriums
fruiting Avocado, Tangerine and Apple Banana trees
off-street parking
Carpet Flooring
Cleared
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
COLDWELL BANKER ISLAND PROPERTIES - KONA
(808) 875-7000
Listed By:
FELICIA FRAZER-HARMS · License #RS-66974
(808) 936-2270
Source:
Corcoran
Added: Aug 20
Changed: Sep 2
Last Checked: Sep 2 at 6:21PM
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 COLDWELL BANKER ISLAND PROPERTIES - KONA
Investment Insights
Based on property information with market context.
This fee-simple storefront property includes 1,144 square feet across a main building and rear cottage. The 1986 property is configured for three businesses: a tattoo parlor, barber shop and hair salon, and massage studio. The main structure includes a full bathroom and plumbing for a kitchen, while the cottage has a second bathroom added in 2008. A shared washer and dryer, laundry sink, and connecting breezeway support the layout.
Set back from Pahoa Village Road, the building offers off-street customer parking while remaining visible from the street. The rear cottage includes a covered lanai and sitting area overlooking mature Hapu'u ferns and Anthuriums. A garden path leads to avocado, tangerine, and apple banana trees in the back yard. The property is zoned Village-Commercial (CV-10) and is located in Pahoa Village.
Set back from Pahoa Village Road, the building offers off-street customer parking while remaining visible from the street. The rear cottage includes a covered lanai and sitting area overlooking mature Hapu'u ferns and Anthuriums. A garden path leads to avocado, tangerine, and apple banana trees in the back yard. The property is zoned Village-Commercial (CV-10) and is located in Pahoa Village.
Key Highlights
- 1,144‑square‑foot fee‑simple storefront property with a main building and rear cottage
- Three tenant spaces include a tattoo parlor, barber shop/hair salon, and massage studio
- Village‑Commercial (CV‑10) zoning
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
$24,709
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
7.06%
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%
$494,180
$494.2K
Cap Rate 7%
$352,986
$353.0K
Cap Rate 9%
$274,544
$274.5K
Market Conditions
NOI Build-Up for 1,144 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
$37.8K $33.00/SF
− Vacancy
−$2.5K −$2.15/SF
EGI
$35.3K $30.86/SF
− OpEx
−$10.6K −$9.26/SF
NOI
$24.7K $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 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%
$494,180
Cap Rate 7%
$352,986
Cap Rate 9%
$274,544
Alternative Uses
Best Use
Retail
$353.0K
$308.9K – $411.8K
NOI $24,709 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96778, HI
14,687
Population
6,814
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
211.5 sq mi
ZIP Area
69
Density / Sq Mi
$34,863
Median Household Income
$29,821
Median Earnings
$1,321
Median Rent
$241,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three occupied commercial spaces combine customer parking, service-oriented layouts, and a landscaped rear garden setting.
Where is this storefront property located?
The property is located at 15-2883 PAHOA VILLAGE RD Pahoa, HI.
What is the asking price?
The asking price for this property is $349,950.
What are key features of this property?
This property features: 1,144‑square‑foot fee‑simple storefront property with a main building and rear cottage; Three tenant spaces include a tattoo parlor, barber shop/hair salon, and massage studio; Village‑Commercial (CV‑10) zoning
