Lahaina Commercial Kitchen For
For Sale
$1,495,000
154 Kupuohi St #E-4, Lahaina, HI 96761
Commercial kitchen in Lahaina with loft and parking.
Property Size1,758 SF
Price / SF$850.40
Days on Market278
Property Features for 154 Kupuohi St #E-4
General Information
Standard status
Active
Size
1,758 SF
Property subtype
Commercial
Listing Agency:
COMPASS
(808) 762-1796
Listed By:
DEBBIE ARAKAKI RB-20674
Source:
Corcoran
Added: Nov 5, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:07AM
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 COMPASS
Investment Insights
Based on property information with market context.
This 1758 square foot commercial kitchen unit is located in Lahaina. The ground floor offers 1182 square feet of space, featuring stained concrete and tile flooring in the kitchen work area. A 576 square foot loft area upstairs is finished with durable vinyl flooring. The property includes a 200-gallon grease trap, and a new 5-ton RTU air conditioning unit installed in 2024 with an access panel and pull-down ladder recently added in the roof. Electrical capacity includes 220 outlets for freezer and refrigeration. The unit has two full bathrooms, one on each floor. Three assigned parking stalls are included.
Key Highlights
- Commercial kitchen space in Lahaina.
- 1758 sf unit with 1182 sf ground floor and 576 sf loft.
- 200‑gallon grease trap installed.
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
$49,782
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
3.33%
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%
$995,640
$995.6K
Cap Rate 7%
$711,171
$711.2K
Cap Rate 9%
$553,133
$553.1K
Market Conditions
NOI Build-Up for 1,758 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
$69.7K $39.66/SF
− Vacancy
−$3.3K −$1.90/SF
EGI
$66.4K $37.76/SF
− OpEx
−$16.6K −$9.44/SF
NOI
$49.8K $28.32/SF
Area
Maui County, HI
Vacancy
4.80%
Lease Rate
$39.66 /SF/Yr
Expense Ratio
25.00%
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%
$995,640
Cap Rate 7%
$711,171
Cap Rate 9%
$553,133
Alternative Uses
Best Use
Specialty Retail
$711.2K
$622.3K – $829.7K
NOI $49,782 @ 7.0% cap · market cap 3.33%
Second Best
Industrial
$311.4K
$272.5K – $363.3K
NOI $21,796 @ 7.0% cap · market cap 1.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96761, HI
23,167
Population
11,851
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
93%
High-School Grad
95.3 sq mi
ZIP Area
243
Density / Sq Mi
$94,229
Median Household Income
$45,107
Median Earnings
$2,099
Median Rent
$905,800
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?
Commercial kitchen - Commercial kitchen in Lahaina with loft and parking.
Where is this commercial kitchen located?
The property is located at 154 Kupuohi St #E-4 Lahaina, HI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Commercial kitchen space in Lahaina.; 1758 sf unit with 1182 sf ground floor and 576 sf loft.; 200‑gallon grease trap installed.
