Industrial Warehouse with Fenced
For Sale
$2,750,000
2110 Auiki Street, Honolulu, HI 96819
Corner industrial property with dual street access, office mezzanine, security cameras, and a long-term lease through 2048.
Property Size10,073 SF
Lot Size0.47 Acres
Price / SF$273.01
Days on Market84
Property Features for 2110 Auiki Street
General Information
Standard status
Active
Size
10,073 SF
Lot size
0.47 Acres
Property subtype
Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Warehouse Space
9,653 SF
Taxes and HOA fees
Annual Taxes
$60,108
Amenities
security camera system
Building Details
Building Size
10,073 SF
Year Built
1981
Listing Agency:
Hawaii Homes International
Listed By:
Camellia Young · License #RS-60206
(808) 228-2628
Source:
Careyluxury
Added: Jun 26
Changed: Sep 4
Last Checked: Sep 16 at 11:06PM
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 Hawaii Homes International
Investment Insights
Based on property information with market context.
This warehouse property occupies a 20,436-square-foot land parcel and includes approximately 9,653 square feet of warehouse area. The facility has a mezzanine office, with additional second-floor build-out potential noted in the property information. A fenced yard and security camera system support the site’s industrial functionality, while the corner configuration provides access from two streets and includes two street addresses.
The property is located across from Honolulu shipping docks and newer warehouse facilities, with central Honolulu nearby and the airport approximately five minutes away. The existing lease runs through December 31, 2048.
The property is located across from Honolulu shipping docks and newer warehouse facilities, with central Honolulu nearby and the airport approximately five minutes away. The existing lease runs through December 31, 2048.
Key Highlights
- 20,436‑square‑foot land area
- Approximately 9,653 square feet of warehouse area
- Corner lot with two street addresses and access from two streets
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
$160,502
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
5.84%
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%
$3,210,040
$3.2M
Cap Rate 7%
$2,292,886
$2.3M
Cap Rate 9%
$1,783,356
$1.8M
Market Conditions
NOI Build-Up for 10,073 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
$191.0K $18.96/SF
− Vacancy
−$2.2K −$0.21/SF
EGI
$188.8K $18.75/SF
− OpEx
−$28.3K −$2.81/SF
NOI
$160.5K $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 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%
$3,210,040
Cap Rate 7%
$2,292,886
Cap Rate 9%
$1,783,356
Alternative Uses
Best Use
Warehouse
$2.29M
$2.01M – $2.68M
NOI $160,502 @ 7.0% cap · market cap 5.84%
Second Best
Industrial
$1.89M
$1.65M – $2.20M
NOI $132,178 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$4.08M
$3.57M – $4.76M
NOI $285,671 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Corner industrial property with dual street access, office mezzanine, security cameras, and a long-term lease through 2048.
Where is this warehouse located?
The property is located at 2110 Auiki Street Honolulu, HI.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 20,436‑square‑foot land area; Approximately 9,653 square feet of warehouse area; Corner lot with two street addresses and access from two streets
