Flex Space with Roll-Up
For Sale
$665,000
300 Ohukai Road Road Unit 300 OHUKAI ROAD B303, Kihei, HI 96753
Commercial condominium combining a customer-facing storefront, climate-controlled offices, and connected warehouse space.
Property Size1,299 SF
Price / SF$511.93
Days on Market361
Property Features for 300 Ohukai Road Road Unit 300 OHUKAI ROAD B303
General Information
Standard status
Active
Size
1,299 SF
Total Parking Spaces
3
Property subtype
Commercial Sale / Commercial-For Sale / Condominium
Zoning
Business Condominium
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,500
Amenities
Central Air
Concrete, Carpet, Laminate
Yes
Reinforced Concrete, Tilt-Up Concrete
Building Details
Stories
1
Listing Agency:
Maui Real Estate Advisors LLC
(808) 250-3564
Listed By:
Robert Dein · License #RB-18398
(808) 250-3564
Source:
Compass
Added: Sep 5, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:20AM
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 Maui Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
This 1,299-square-foot commercial condominium combines a storefront, office areas, and warehouse space within a flex-space configuration. The front area includes floor-to-ceiling windows, durable vinyl flooring, drop ceilings, and a counter-height interior window. Central air conditioning serves the office spaces, while a pedestrian door connects the offices directly to the warehouse. The rear warehouse includes a 12' x 12' roll-up overhead door and a second pedestrian entrance.
The unit is located in the Kihei Commercial Center off Pi'ilani Highway, with access from the northbound highway lanes and Ohukai Road. The property is approximately 15 minutes from Kahului, Maui's Central Business District, and OGG Airport via four-lane highway. Parking includes two dedicated stalls and one shared common stall, with additional parking at the storefront facade. The warehouse is currently leased to Dive Maui, a professional dive tank filling enterprise.
The unit is located in the Kihei Commercial Center off Pi'ilani Highway, with access from the northbound highway lanes and Ohukai Road. The property is approximately 15 minutes from Kahului, Maui's Central Business District, and OGG Airport via four-lane highway. Parking includes two dedicated stalls and one shared common stall, with additional parking at the storefront facade. The warehouse is currently leased to Dive Maui, a professional dive tank filling enterprise.
Key Highlights
- 1,299 SF commercial condominium with storefront, offices, and warehouse space
- 12' x 12' roll‑up overhead door serving the warehouse
- Central air conditioning in all office spaces
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
$31,033
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
4.67%
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%
$620,660
$620.7K
Cap Rate 7%
$443,329
$443.3K
Cap Rate 9%
$344,811
$344.8K
Market Conditions
NOI Build-Up for 1,299 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
$46.8K $36.00/SF
− Vacancy
−$2.4K −$1.87/SF
EGI
$44.3K $34.13/SF
− OpEx
−$13.3K −$10.24/SF
NOI
$31.0K $23.89/SF
Area
Maui County, HI
Vacancy
5.20%
Lease Rate
$36.00 /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%
$620,660
Cap Rate 7%
$443,329
Cap Rate 9%
$344,811
Alternative Uses
Best Use
Retail
$443.3K
$387.9K – $517.2K
NOI $31,033 @ 7.0% cap · market cap 4.67%
Second Best
Office B
$369.1K
$323.0K – $430.6K
NOI $25,837 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$525.5K
$459.8K – $613.1K
NOI $36,784 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 96753, HI
27,611
Population
18,294
Households
1.5
Avg Household Size
47
Median Age
35%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
759
Density / Sq Mi
$87,948
Median Household Income
$44,157
Median Earnings
$2,076
Median Rent
$958,400
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?
Flex space - Commercial condominium combining a customer-facing storefront, climate-controlled offices, and connected warehouse space.
Where is this flex space located?
The property is located at 300 Ohukai Road Road Unit 300 OHUKAI ROAD B303 Kihei, HI.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 1,299 SF commercial condominium with storefront, offices, and warehouse space; 12' x 12' roll‑up overhead door serving the warehouse; Central air conditioning in all office spaces
