Commercial Buildings with Parking
224 HAILI ST Hilo, HI 96720
224 HAILI ST, Hilo, HI, 96720
Contact for pricing
For Sale
Contact for pricing
Two commercial buildings with a 16-stall parking lot.
Property Size4,816 SF
Price / SF$342.61
Days on Market78
Property Features for 224 HAILI ST
General Information
- Standard status
- Active
- Size
- 4,816 SF
- Property subtype
- Office
Building Details
- Year Built
- 1963
Listing Agency
Coldwell Banker Island Properties Hilo
Listed by
Glenn Takase · License #HI
Source
Crexi
Added: May 2 Checked: Jul 14 at 9:07 pm
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
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.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.9k | $22.20 |
| − Vacancy | −$15.5k | −$3.22 |
| EGI | $91.4k | $18.98 |
| − OpEx | −$22.9k | −$4.75 |
| NOI | $68.6k | $14.24 |
4,816 SF · lease $22.20/SF/yr · vacancy 14.50% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Premier Dental Group ...
Dental Office
Property Professionals Hawaii ...
Real Estate Agency
Capati Chrissy DO
Physician
Rainbow Medical Supply ...
Medical Supply Store
Asam Anne M ...
Physician
Similar For Sale Nearby
FAQs
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.
