Lihue Commercial Investment
For Sale
Contact for pricing
3-3204 Kuhio Highway, Lihue, HI 96766
Multi-tenant commercial property in Lihue, Kauai with stable cashflow.
Property Size6,822 SF
Price / SF$307.83
Days on Market155
Property Features for 3-3204 Kuhio Highway
General Information
Standard status
Active
Size
6,822 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
C-G Commercial
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$120,130
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
Colliers - Honolulu, Hawaii
Listed By:
Alika Cosner (S), SIOR · License #HI 69441
(808) 523-8339
Source:
Crexi
Added: Apr 10
Changed: Sep 10
Last Checked: Sep 10 at 5:59AM
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 Colliers - Honolulu, Hawaii
Investment Insights
Based on property information with market context.
This multi-tenant commercial property is located in Lihue, Kauai, on a thoroughfare with tourist and local traffic. The well-maintained property features a mix of service-oriented tenants, providing stable cashflow. The location offers visibility and ample parking, designed to attract foot traffic and enhance customer accessibility. This investment provides a balanced approach to real estate investment, combining stability, flexibility and potential rent growth.
Key Highlights
- Prime commercial investment property in Lihue, Kauai
- Strategically located on a high‑traffic thoroughfare
- Stable cashflow from a diverse mix of service‑oriented tenants
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
$180,574
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
8.60%
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%
$3,611,480
$3.6M
Cap Rate 7%
$2,579,629
$2.6M
Cap Rate 9%
$2,006,378
$2.0M
Market Conditions
NOI Build-Up for 6,822 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
$271.0K $39.72/SF
− Vacancy
−$13.0K −$1.91/SF
EGI
$258.0K $37.81/SF
− OpEx
−$77.4K −$11.34/SF
NOI
$180.6K $26.47/SF
Area
Kauai 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%
$3,611,480
Cap Rate 7%
$2,579,629
Cap Rate 9%
$2,006,378
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,574 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,110 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 96766, HI
16,937
Population
5,562
Households
3
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
93.7 sq mi
ZIP Area
181
Density / Sq Mi
$96,434
Median Household Income
$44,586
Median Earnings
$1,904
Median Rent
$751,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant commercial property in Lihue, Kauai with stable cashflow.
Where is this shopping center located?
The property is located at 3-3204 Kuhio Highway Lihue, HI.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime commercial investment property in Lihue, Kauai; Strategically located on a high‑traffic thoroughfare; Stable cashflow from a diverse mix of service‑oriented tenants
