Two-Bay Flex
1585-A Hau Street, Honolulu, HI 96817
For Sale
Contact for pricing
Concrete construction combines warehouse, office, and mezzanine space, with near-term occupancy available for an owner-user.
Property Size8,876 SF
Price / SF$354.89
Days on Market25
Property Features for 1585-A Hau Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Warehouse & Industrial
Warehouse Space
Office Build-Out
Mezzanine
Additional Details
Property Use
Building Details
Year Built
Buildings
Stories
Building Size
Construction
Listing Agency:
CBRE - Honolulu
Listed By:
Ashley Caires · License HI RS-88733
(808) 541-5185
Source:
Crexi
Added: Oct 17
Changed: Nov 8
Last Checked: Nov 10 at 7:59AM
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 CBRE - Honolulu
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1980, the concrete flex property provides warehouse, mezzanine, and office areas. Its approximately 8,876 SF as-built configuration includes a 4,210 SF ground floor with two independent warehouse bays, approximately 2,575 SF of mezzanine space across the two ground-floor units, and a separate 2,091 SF upper office level with exterior access. The permitted building area under Certificate of Occupancy 80-5179 is 5,902 SF.
The property is on Hau Street in Kalihi, Honolulu. Near-term occupancy is available for an owner-user.
The property is on Hau Street in Kalihi, Honolulu. Near-term occupancy is available for an owner-user.
Key Highlights
- Approximately 8,876 SF as‑built; permitted building area is 5,902 SF
- 4,210 SF ground floor with two independent warehouse bays
- Approximately 2,575 SF of mezzanine area distributed across the ground‑floor units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,429
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,828,580
$2.8M
Cap Rate 7%
$2,020,414
$2.0M
Cap Rate 9%
$1,571,433
$1.6M
Market Conditions
NOI Build-Up for 8,876 SF
Gross rent
$168.3K $18.96/SF
− Vacancy
−$1.9K −$0.21/SF
EGI
$166.4K $18.75/SF
− OpEx
−$25.0K −$2.81/SF
NOI
$141.4K $15.93/SF
Area
Honolulu County, HI
Vacancy
1.13%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,828,580
Cap Rate 7%
$2,020,414
Cap Rate 9%
$1,571,433
Alternative Uses
Best Use
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,429 @ 7.0% cap · market cap 4.49%
Second Best
Flex RnD
$1.76M
$1.54M – $2.05M
NOI $123,124 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$3.60M
$3.15M – $4.20M
NOI $251,724 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Concrete construction combines warehouse, office, and mezzanine space, with near-term occupancy available for an owner-user.
Where is this flex space located?
The property is located at 1585-A Hau Street Honolulu, HI.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Approximately 8,876 SF as‑built; permitted building area is 5,902 SF; 4,210 SF ground floor with two independent warehouse bays; Approximately 2,575 SF of mezzanine area distributed across the ground‑floor units
