Steel Warehouse on Industrial
For Sale
$7,066,052
200 Waiehu Beach Road, Wailuku, HI 96793
M-1 Light Industrial zoning supports industrial, retail, office, and apartment uses.
Property Size28,956 SF
Price / SF$269.70
Days on Market92
Property Features for 200 Waiehu Beach Road
General Information
Standard status
Active
Size
28,956 SF
Property subtype
Retail
Zoning
M-1 Light Industrial
Additional Details
Warehouse Space
28,956 SF
Land Use
industrial
Building Details
Buildings
1
Building Size
28,956 SF
Construction
steel
Listing Agency:
(808) 357-3369
Listed By:
Scott A. Crockford · License #RB-13508
(808) 357-3369
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 31 at 2:30PM
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 Scott A. Crockford
Investment Insights
Based on property information with market context.
The offering includes an improved 6.13-acre main parcel together with two smaller parcels. A 28,956-square-foot steel warehouse building occupies the property and provides a substantial industrial structure for storage or production uses.
The property is zoned M-1 Light Industrial, with uses identified in the source information including industrial, retail, office, and apartment. The offering combines the existing warehouse with additional parcel area, providing a multi-parcel configuration for commercial real estate ownership.
The property is zoned M-1 Light Industrial, with uses identified in the source information including industrial, retail, office, and apartment. The offering combines the existing warehouse with additional parcel area, providing a multi-parcel configuration for commercial real estate ownership.
Key Highlights
- 28,956‑square‑foot steel warehouse building
- Improved main parcel contains 6.13 acres
- Includes two smaller parcels in addition to the main parcel
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
$394,446
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
5.58%
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%
$7,888,920
$7.9M
Cap Rate 7%
$5,634,943
$5.6M
Cap Rate 9%
$4,382,733
$4.4M
Market Conditions
NOI Build-Up for 26,200 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
$471.6K $18.00/SF
− Vacancy
−$7.5K −$0.29/SF
EGI
$464.1K $17.71/SF
− OpEx
−$69.6K −$2.66/SF
NOI
$394.4K $15.06/SF
Area
Maui County, HI
Vacancy
1.60%
Lease Rate
$18.00 /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%
$7,888,920
Cap Rate 7%
$5,634,943
Cap Rate 9%
$4,382,733
Alternative Uses
Best Use
Warehouse
$5.63M
$4.93M – $6.57M
NOI $394,446 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.60M
$9.27M – $12.37M
NOI $741,912 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96793, HI
31,939
Population
11,510
Households
2.8
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
76.1 sq mi
ZIP Area
420
Density / Sq Mi
$104,220
Median Household Income
$47,026
Median Earnings
$1,797
Median Rent
$776,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - M-1 Light Industrial zoning supports industrial, retail, office, and apartment uses.
Where is this warehouse located?
The property is located at 200 Waiehu Beach Road Wailuku, HI.
What is the asking price?
The asking price for this property is $7,066,052.
What are key features of this property?
This property features: 28,956‑square‑foot steel warehouse building; Improved main parcel contains 6.13 acres; Includes two smaller parcels in addition to the main parcel
