Industrial Office Flex
For Sale
$20,000,000
2254 Lauwiliwili St, Kapolei, HI 96707
I-2 zoned facility with 30-foot clear heights, eight grade-level rollup doors, concrete yard, and executive office build-out.
Property Size68,360 SF
Lot Size1.31 Acres
Price / SF$292.57
Days on Market52
Property Features for 2254 Lauwiliwili St
General Information
Standard status
Active
Size
68,360 SF
Lot size
1.31 Acres
Zoning
I-2
Warehouse & Industrial
Clear Height
30 ft
Drive-In Doors
8
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
2021
Listing Agency:
Bratton Realty Advisors Ltd
Listed By:
Mark D Bratton · License #RB-14000
(808) 523-9708
Source:
Paradisebrokers
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 15 at 10:10PM
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 Bratton Realty Advisors Ltd
Investment Insights
Based on property information with market context.
This state-of-the-art industrial office flex facility is built to institutional standards on 1.31 acres of I-2 zoned property in Kapolei Business Park Phase II. The building features 30-foot clear heights, eight grade-level rollup doors, a concrete yard, and ample parking. An executive-level office build-out is included for day-to-day administration and customer-facing functions. The property also has an owned solar system.
The site is presented for sale with move-in readiness and is positioned as part of the Kapolei Business Park Phase II development.
Designed to support combined warehouse and office use, the layout pairs high-clear warehouse space and direct rollup access with dedicated office improvements, offering a functional configuration for an owner-user or a tenant requiring both industrial capabilities and on-site office space.
The site is presented for sale with move-in readiness and is positioned as part of the Kapolei Business Park Phase II development.
Designed to support combined warehouse and office use, the layout pairs high-clear warehouse space and direct rollup access with dedicated office improvements, offering a functional configuration for an owner-user or a tenant requiring both industrial capabilities and on-site office space.
Key Highlights
- 2021‑built office/industrial facility on 1.31 acres in Kapolei Business Park Phase II
- I‑2 zoning with 30‑foot clear heights and an institutional‑grade build to 2021 standards
- Eight grade‑level rollup doors plus a concrete yard
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
$1,089,241
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
5.45%
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%
$21,784,820
$21.8M
Cap Rate 7%
$15,560,586
$15.6M
Cap Rate 9%
$12,102,678
$12.1M
Market Conditions
NOI Build-Up for 68,360 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
$1.30M $18.96/SF
− Vacancy
−$14.6K −$0.21/SF
EGI
$1.28M $18.75/SF
− OpEx
−$192.2K −$2.81/SF
NOI
$1.09M $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%
$21,784,820
Cap Rate 7%
$15,560,586
Cap Rate 9%
$12,102,678
Alternative Uses
Best Use
Warehouse
$15.56M
$13.62M – $18.15M
NOI $1,089,241 @ 7.0% cap · market cap 5.45%
Second Best
Flex RnD
$13.55M
$11.85M – $15.80M
NOI $948,257 @ 7.0% cap · market cap 4.74%
Theoretical Best
Specialty Retail
$27.70M
$24.23M – $32.31M
NOI $1,938,695 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
30 ft
Clear height
8
Drive-in doors
Location Intelligence
Demographics for 96707, HI
47,181
Population
16,554
Households
2.9
Avg Household Size
36
Median Age
34%
College-Educated
94%
High-School Grad
43.4 sq mi
ZIP Area
1,087
Density / Sq Mi
$121,409
Median Household Income
$57,269
Median Earnings
$2,551
Median Rent
$772,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - I-2 zoned facility with 30-foot clear heights, eight grade-level rollup doors, concrete yard, and executive office build-out.
Where is this flex space located?
The property is located at 2254 Lauwiliwili St Kapolei, HI.
What is the asking price?
The asking price for this property is $20,000,000.
What are key features of this property?
This property features: 2021‑built office/industrial facility on 1.31 acres in Kapolei Business Park Phase II; I‑2 zoning with 30‑foot clear heights and an institutional‑grade build to 2021 standards; Eight grade‑level rollup doors plus a concrete yard
