Office Condominium
For Sale
$588,000
2830 Kaonawai Place C4, Honolulu, HI 96822
Commercial condominium space serving office or retail functions in Honolulu’s Manoa Valley.
Property Size1,596 SF
Price / SF$368.42
Days on Market206
Property Features for 2830 Kaonawai Place C4
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$3,123
Building Details
Building Size
1,596 SF
Year Built
1980
Listing Agency:
Bratton Realty Advisors Ltd
(808) 523-9708
Listed By:
Mark D Bratton · License #RB-14000
(808) 523-9708
Source:
Careyluxury
Added: Jan 16
Changed: Aug 5
Last Checked: Aug 9 at 12:00PM
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 1,596-square-foot condominium unit was built in 1980 and is identified for office and retail use. The property offers an established commercial setting with a functional core that can be adapted to a business’s interior requirements.
The unit is located in Manoa Valley in Honolulu, near residential communities, educational institutions, and established retail areas. Its setting also provides access to major Honolulu thoroughfares while remaining within a quieter valley environment.
The unit is located in Manoa Valley in Honolulu, near residential communities, educational institutions, and established retail areas. Its setting also provides access to major Honolulu thoroughfares while remaining within a quieter valley environment.
Key Highlights
- 1,596‑square‑foot office unit
- Condominium property with office and retail use
- Built in 1980
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
$42,245
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
7.18%
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%
$844,900
$844.9K
Cap Rate 7%
$603,500
$603.5K
Cap Rate 9%
$469,389
$469.4K
Market Conditions
NOI Build-Up for 1,596 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
$63.4K $39.72/SF
− Vacancy
−$3.0K −$1.91/SF
EGI
$60.4K $37.81/SF
− OpEx
−$18.1K −$11.34/SF
NOI
$42.2K $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 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%
$844,900
Cap Rate 7%
$603,500
Cap Rate 9%
$469,389
Alternative Uses
Best Use
Retail
$603.5K
$528.1K – $704.1K
NOI $42,245 @ 7.0% cap · market cap 7.18%
Second Best
Office B
$583.5K
$510.6K – $680.8K
NOI $40,848 @ 7.0% cap · market cap 6.95%
Theoretical Best
Specialty Retail
$646.6K
$565.8K – $754.4K
NOI $45,263 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 96822, HI
42,231
Population
19,960
Households
2.1
Avg Household Size
45
Median Age
58%
College-Educated
95%
High-School Grad
8.0 sq mi
ZIP Area
5,279
Density / Sq Mi
$95,594
Median Household Income
$49,159
Median Earnings
$1,736
Median Rent
$985,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condominium space serving office or retail functions in Honolulu’s Manoa Valley.
Where is this office units located?
The property is located at 2830 Kaonawai Place C4 Honolulu, HI.
What is the asking price?
The asking price for this property is $588,000.
What are key features of this property?
This property features: 1,596‑square‑foot office unit; Condominium property with office and retail use; Built in 1980
