Corner-Lot Industrial Flex
For Sale
$1,500,000
1649 Democrat Street, Honolulu, HI 96819
Industrial-zoned corner lot with two income-producing structures and easy access to major transport corridors.
Property Size3,824 SF
Lot Size0.10 Acres
Price / SF$392.26
Days on Market204
Property Features for 1649 Democrat Street
General Information
Standard status
Active
Size
3,824 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Zoning
I-2
Occupancy
100%
Site & Location
Neighborhood
Iwilei
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,812
Building Details
Building Size
3,824 SF
Year Built
1944
Listing Agency:
SC Realty, LLC
Listed By:
Daniel K Chong · License #RS-75172
(808) 687-1314
Source:
Commercialinvestmentstrategies
Added: Apr 13
Changed: Oct 31
Last Checked: Nov 1 at 2:35PM
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 SC Realty, LLC
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Investment Insights
Based on property information with market context.
This corner-lot industrial flex property includes two structures totaling approximately 3,824 sq ft on a 4,514 sq ft lot. The site is zoned I-2, which allows a wide range of commercial and industrial uses. The property is income producing and all units are currently occupied; however, notice has been given to tenants to vacate.
Conveniently located in Kalihi with easy access to Nimitz Hwy, H-1 Freeway, Airport Sand Island, and Honolulu Harbor, supporting logistics and business operations.
The current configuration provides two buildings on a single lot, offering flexibility for investors or owner-users who want an industrial-zoned site with redevelopment or repositioning potential.
Conveniently located in Kalihi with easy access to Nimitz Hwy, H-1 Freeway, Airport Sand Island, and Honolulu Harbor, supporting logistics and business operations.
The current configuration provides two buildings on a single lot, offering flexibility for investors or owner-users who want an industrial-zoned site with redevelopment or repositioning potential.
Key Highlights
- Industrial‑zoned corner‑lot income property in Kalihi with two structures totaling approximately 3,824 sq ft
- 4,514 sq ft lot with I‑2 zoning, allowing a wide range of commercial and industrial uses
- Convenient access to Nimitz Hwy, H‑1 Freeway, Airport Sand Island, and Honolulu Harbor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,045
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,060,900
$1.1M
Cap Rate 7%
$757,786
$757.8K
Cap Rate 9%
$589,389
$589.4K
Market Conditions
NOI Build-Up for 3,824 SF
Gross rent
$82.6K $21.60/SF
− Vacancy
−$991 −$0.26/SF
EGI
$81.6K $21.34/SF
− OpEx
−$28.6K −$7.47/SF
NOI
$53.0K $13.87/SF
Area
Honolulu County, HI
Vacancy
1.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,060,900
Cap Rate 7%
$757,786
Cap Rate 9%
$589,389
Alternative Uses
Best Use
Flex RnD
$757.8K
$663.1K – $884.1K
NOI $53,045 @ 7.0% cap · market cap 3.54%
Second Best
Industrial
$716.8K
$627.2K – $836.3K
NOI $50,179 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,449 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Demographics for 96819, HI
53,334
Population
13,287
Households
4
Avg Household Size
39
Median Age
22%
College-Educated
84%
High-School Grad
21.8 sq mi
ZIP Area
2,447
Density / Sq Mi
$96,346
Median Household Income
$40,897
Median Earnings
$1,789
Median Rent
$963,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned corner lot with two income-producing structures and easy access to major transport corridors.
Where is this flex space located?
The property is located at 1649 Democrat Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Industrial‑zoned corner‑lot income property in Kalihi with two structures totaling approximately 3,824 sq ft; 4,514 sq ft lot with I‑2 zoning, allowing a wide range of commercial and industrial uses; Convenient access to Nimitz Hwy, H‑1 Freeway, Airport Sand Island, and Honolulu Harbor
