Value-Add Multifamily with Retail
3154 WAIALAE AVE Honolulu, HI 96816
3154 WAIALAE AVE, Honolulu, HI, 96816
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For Sale
Contact for pricing
Two hollow-tile buildings include bakery space, separately metered apartments, and 10 covered parking stalls.
Property Size8,661 SF
Price / SF$299.62
Days on Market16
Property Features for 3154 WAIALAE AVE
General Information
- Standard status
- Active
- Size
- 8,661 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1970
Listing agency
Commercial Investment Strategies
(808) 429-1098
Listed by
Christina Dwight · License #HI RB-20978
Source
Crexi
Added: Jul 6 Updated: Jul 21 at 12:37PM Checked: Jul 21 at 12:37PM
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 Commercial Investment Strategies
Investment Insights
Based on property information with market context.
This offering consists of two hollow-tile buildings with a mixed configuration. The front building includes a 3-bedroom / 1-bath unit over an existing bakery space. The back building features nine one-bedroom units. The property provides 10 covered parking stalls.
Public remarks indicate the asset is located to the right of the St. Louis/Chaminade entrance. Unit utilities are managed with separate metering: there are two gas meters and two water meters, and all units are separately metered for electric. The bakery pays their own gas plus 1 CAM for laundry, per the provided remarks.
As of the information in the public remarks, some units have been renovated, with four vacant units and three units on term.
Public remarks indicate the asset is located to the right of the St. Louis/Chaminade entrance. Unit utilities are managed with separate metering: there are two gas meters and two water meters, and all units are separately metered for electric. The bakery pays their own gas plus 1 CAM for laundry, per the provided remarks.
As of the information in the public remarks, some units have been renovated, with four vacant units and three units on term.
Key Highlights
- Year built 1970 two hollow‑tile buildings with bakery space and separately metered apartments.
- Front building has 3 bed/1 ba over an existing bakery; back building has 9 one‑bedroom apartments.
- 10 covered parking stalls included.
Local Financial Insights For Retail
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 | $344.0k | $39.72 |
| − Vacancy | −$16.5k | −$1.91 |
| EGI | $327.5k | $37.81 |
| − OpEx | −$98.3k | −$11.34 |
| NOI | $229.3k | $26.47 |
8,661 SF · lease $39.72/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.28M
$2.87M – $3.82M
NOI $229,252 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,798 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$3.51M
$3.07M – $4.09M
NOI $245,627 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cruzsant Bake Shop
Bakery
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two hollow-tile buildings include bakery space, separately metered apartments, and 10 covered parking stalls.
Where is this apartment building located?
The property is located at 3154 WAIALAE AVE Honolulu, HI.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Year built 1970 two hollow‑tile buildings with bakery space and separately metered apartments.; Front building has 3 bed/1 ba over an existing bakery; back building has 9 one‑bedroom apartments.; 10 covered parking stalls included.
