Two-Story Live-Work
For Sale
$1,200,000
1647 Liliha Street, Honolulu, HI 96817
Mixed-use property with commercial space below and a three-bedroom residential unit above.
Property Size2,280 SF
Days on Market14
Property Features for 1647 Liliha Street
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$11,916
Building Details
Building Size
2,280 SF
Year Built
1983
Listing Agency:
Locations LLC
Listed By:
Russell K Nishimoto · License #RB-10963
(808) 226-6066
Source:
Commercialinvestmentstrategies
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 26 at 1:49PM
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 Locations LLC
Investment Insights
Based on property information with market context.
This two-story live-work property combines two separate commercial spaces on the ground floor with a residential unit upstairs. The lower level includes one full bathroom, one half bathroom, and a kitchenette, while the upper level is configured as a three-bedroom, one-bath residence. The layout supports business use on the ground floor with living space directly above.
Located at 1647 Liliha Street in Honolulu, the property includes four covered parking stalls, with the source noting that a fifth may be possible depending on vehicle size. Built in 1983, the property offers a combined commercial and residential configuration within a single building.
Located at 1647 Liliha Street in Honolulu, the property includes four covered parking stalls, with the source noting that a fifth may be possible depending on vehicle size. Built in 1983, the property offers a combined commercial and residential configuration within a single building.
Key Highlights
- Two separate commercial spaces occupy the ground floor
- Three‑bedroom, one‑bath residential unit on the second floor
- Ground floor includes one full bath, one half bath, and a kitchenette
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
$60,350
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
5.03%
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%
$1,207,000
$1.2M
Cap Rate 7%
$862,143
$862.1K
Cap Rate 9%
$670,556
$670.6K
Market Conditions
NOI Build-Up for 2,280 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
$90.6K $39.72/SF
− Vacancy
−$4.3K −$1.91/SF
EGI
$86.2K $37.81/SF
− OpEx
−$25.9K −$11.34/SF
NOI
$60.4K $26.47/SF
Area
Honolulu County, HI
Vacancy
4.80%
Lease Rate
$39.72 /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%
$1,207,000
Cap Rate 7%
$862,143
Cap Rate 9%
$670,556
Alternative Uses
Best Use
Retail
$862.1K
$754.4K – $1.01M
NOI $60,350 @ 7.0% cap · market cap 5.03%
Second Best
Office B
$833.6K
$729.4K – $972.6K
NOI $58,354 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$923.7K
$808.3K – $1.08M
NOI $64,661 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use property with commercial space below and a three-bedroom residential unit above.
Where is this live-work space located?
The property is located at 1647 Liliha Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two separate commercial spaces occupy the ground floor; Three‑bedroom, one‑bath residential unit on the second floor; Ground floor includes one full bath, one half bath, and a kitchenette
