Commercial Buildings with Parking
For Sale
$1,650,000
224 HAILI ST, Hilo, HI 96720
Two commercial buildings with a 16-stall parking lot.
Property Size4,816 SF
Price / SF$342.61
Days on Market168
Property Features for 224 HAILI ST
General Information
Standard status
Active
Size
4,816 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,128
Amenities
Central air
Cleared
Grassy
Unassigned
Zoned Cooling
Zoned Heating
Building Details
Year Built
1963
Listing Agency:
COLDWELL BANKER ISLAND PROPERTIES - HILO
(808) 969-7863
Listed By:
GLENN M. TAKASE · License #RB-18547
(808) 936-0692
Source:
Corcoran
Added: May 2
Changed: Oct 15
Last Checked: Oct 16 at 8:45AM
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 COLDWELL BANKER ISLAND PROPERTIES - HILO
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Investment Insights
Based on property information with market context.
Two commercial buildings offer high visibility in a convenient central location just above downtown Hilo. The first building measures 1,840 square feet and is occupied by a long-term tenant operating a dental office. The second building provides an additional 2,976 square feet divided into two units, which are currently fully occupied. The property includes a 16-stall parking lot.
Key Highlights
- High visibility and convenient central Hilo location.
- Two separate commercial buildings totaling 4,816 sqft.
- Includes a rare 16‑stall parking lot in the downtown area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,559
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,180
$1.4M
Cap Rate 7%
$979,414
$979.4K
Cap Rate 9%
$761,767
$761.8K
Market Conditions
NOI Build-Up for 4,816 SF
Gross rent
$106.9K $22.20/SF
− Vacancy
−$15.5K −$3.22/SF
EGI
$91.4K $18.98/SF
− OpEx
−$22.9K −$4.75/SF
NOI
$68.6K $14.24/SF
Area
Hawaii County, HI
Vacancy
14.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,180
Cap Rate 7%
$979,414
Cap Rate 9%
$761,767
Alternative Uses
Best Use
Office B
$979.4K
$857.0K – $1.14M
NOI $68,559 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,052 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two commercial buildings with a 16-stall parking lot.
Where is this office building located?
The property is located at 224 HAILI ST Hilo, HI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: High visibility and **convenient central Hilo location.**; Two separate commercial buildings totaling 4,816 sqft.; Includes a **rare 16‑stall parking lot** in the downtown area.
