Industrial Warehouse with Roll-Up
New
For Sale
$2,300,000
1794 HALEUKANA ST, Lihue, HI 96766
Leased industrial warehouse with fenced grounds, parking, and multiple roll-up doors.
Property Size8,280 SF
Lot Size0.37 Acres
Price / SF$277.78
Days on Market4
Property Features for 1794 HALEUKANA ST
General Information
Standard status
Active
Size
8,280 SF
Lot size
0.37 Acres
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Warehouse Space
8,280 SF
Taxes and HOA fees
Annual Taxes
$15,656
Building Details
Year Built
1994
Buildings
1
Building Size
8,280 SF
Listing Agency:
KAUAI COMMERCIAL REALTY LLC
(808) 289-8753
Listed By:
ARACELI BENSON · License #RB-24043
Source:
Corcoran
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 7:05AM
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 KAUAI COMMERCIAL REALTY LLC
Investment Insights
Based on property information with market context.
This standalone warehouse property in Lihue, Hawaii, includes an 8,280-square-foot building on 16,130 square feet of land. The improvements feature high ceilings, five roll-up doors, three electric meters, and a fenced site with ample parking. Two of the roll-up doors were recently replaced, while roof repairs and newer gutters and downspouts add to the recent property improvements. The building was constructed in 1994 and has been freshly painted.
The existing lease runs through 11/30/2028, providing an established tenancy during the current ownership period. The configuration may also support continued leasing, future owner occupancy, or repositioning after the lease term, subject to applicable requirements.
The existing lease runs through 11/30/2028, providing an established tenancy during the current ownership period. The configuration may also support continued leasing, future owner occupancy, or repositioning after the lease term, subject to applicable requirements.
Key Highlights
- 8,280 sf warehouse building on 16,130 sf of land
- Lease in place through 11/30/2028
- Five roll‑up doors, including 2 recently replaced
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
$150,197
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
6.53%
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%
$3,003,940
$3.0M
Cap Rate 7%
$2,145,671
$2.1M
Cap Rate 9%
$1,668,856
$1.7M
Market Conditions
NOI Build-Up for 8,280 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
$178.8K $21.60/SF
− Vacancy
−$2.1K −$0.26/SF
EGI
$176.7K $21.34/SF
− OpEx
−$26.5K −$3.20/SF
NOI
$150.2K $18.14/SF
Area
Kauai County, HI
Vacancy
1.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
15.00%
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%
$3,003,940
Cap Rate 7%
$2,145,671
Cap Rate 9%
$1,668,856
Alternative Uses
Best Use
Warehouse
$2.15M
$1.88M – $2.50M
NOI $150,197 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.87M
NOI $231,955 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Demographics for 96766, HI
16,937
Population
5,562
Households
3
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
93.7 sq mi
ZIP Area
181
Density / Sq Mi
$96,434
Median Household Income
$44,586
Median Earnings
$1,904
Median Rent
$751,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Leased industrial warehouse with fenced grounds, parking, and multiple roll-up doors.
Where is this warehouse located?
The property is located at 1794 HALEUKANA ST Lihue, HI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 8,280 sf warehouse building on 16,130 sf of land; Lease in place through 11/30/2028; Five roll‑up doors, including 2 recently replaced
