Improved Retail
New
For Sale
$135,000
2233 Kalakaua Avenue, Honolulu, HI 96815
The sale includes existing business equipment and furnishings, with alternate uses subject to landlord approval and applicable requirements.
Property Size273 SF
Price / SF$494.51
Days on Market5
Property Features for 2233 Kalakaua Avenue
General Information
Standard status
Active
Size
273 SF
Property subtype
Business
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12
Building Details
Building Size
273 SF
Listing Agency:
Five Star Realty, Inc.
Listed By:
Emily Zheng · License #RS-86368
(808) 382-6871
Source:
Careyluxury
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 4 at 3:18PM
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 Five Star Realty, Inc.
Investment Insights
Based on property information with market context.
An operating business occupies retail space at the Royal Hawaiian Center in Waikiki. The offering includes the existing business improvements, fixtures, furniture and equipment. A different business use may be considered with landlord approval and any required licensing or permits.
The property is at 2233 Kalakaua Avenue in Honolulu, within the Royal Hawaiian Center.
The property is at 2233 Kalakaua Avenue in Honolulu, within the Royal Hawaiian Center.
Key Highlights
- Operating business at the Royal Hawaiian Center in Waikiki
- Sale includes existing improvements, fixtures, furniture and equipment
- Alternate business use is subject to landlord approval and applicable licensing or permits
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,226
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$144,520
$144.5K
Cap Rate 7%
$103,229
$103.2K
Cap Rate 9%
$80,289
$80.3K
Market Conditions
NOI Build-Up for 273 SF
Gross rent
$10.8K $39.72/SF
− Vacancy
−$520 −$1.91/SF
EGI
$10.3K $37.81/SF
− OpEx
−$3.1K −$11.34/SF
NOI
$7.2K $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 Rate 5%
$144,520
Cap Rate 7%
$103,229
Cap Rate 9%
$80,289
Alternative Uses
Best Use
Retail
$103.2K
$90.3K – $120.4K
NOI $7,226 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$110.6K
$96.8K – $129.0K
NOI $7,742 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Demographics for 96815, HI
28,786
Population
22,804
Households
1.3
Avg Household Size
48
Median Age
47%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
13,085
Density / Sq Mi
$75,020
Median Household Income
$55,543
Median Earnings
$1,903
Median Rent
$627,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The sale includes existing business equipment and furnishings, with alternate uses subject to landlord approval and applicable requirements.
Where is this retail space located?
The property is located at 2233 Kalakaua Avenue Honolulu, HI.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Operating business at the Royal Hawaiian Center in Waikiki; Sale includes existing improvements, fixtures, furniture and equipment; Alternate business use is subject to landlord approval and applicable licensing or permits
