Ground-Floor Storefront
For Sale
$420,000
320 Ohukai St #Unit 404, Kihei, HI 96753
Open-span commercial unit with a full-glass frontage, private restroom, and high ceilings.
Property Size1,036 SF
Price / SF$405.41
Days on Market124
Property Features for 320 Ohukai St #Unit 404
General Information
Standard status
Active
Size
1,036 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Highway Access
Yes
Amenities
Assigned
Pitch and Gravel Roof
Listing Agency:
COLDWELL BANKER ISLAND PROP(S)
(808) 874-8668
Listed By:
WILL MCKINNEY RS-68209
Source:
Corcoran
Added: Apr 29
Changed: Aug 29
Last Checked: Aug 29 at 11:53PM
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 COLDWELL BANKER ISLAND PROP(S)
Investment Insights
Based on property information with market context.
Unit 404 is a ground-floor commercial condominium with approximately 1,036 square feet of open-span interior space. The layout includes a full-glass storefront, private restroom, faux-wood flooring, and high ceilings, with natural light entering through the front glazing. The configuration supports showroom, studio, office, and service-oriented business uses stated for the property.
The unit is located at 320 Ohukai St in Kihei’s light industrial corridor. The complex provides access to Piilani Highway and is positioned within South Maui, with the source information also identifying connections to Kahului and Upcountry areas.
The unit is located at 320 Ohukai St in Kihei’s light industrial corridor. The complex provides access to Piilani Highway and is positioned within South Maui, with the source information also identifying connections to Kahului and Upcountry areas.
Key Highlights
- Approximately 1,036 square feet of open‑span commercial interior
- Ground‑floor condominium unit at 320 Ohukai St #Unit 404
- Full‑glass storefront brings natural light into the space
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
$24,750
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
5.89%
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%
$495,000
$495.0K
Cap Rate 7%
$353,571
$353.6K
Cap Rate 9%
$275,000
$275.0K
Market Conditions
NOI Build-Up for 1,036 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
$37.3K $36.00/SF
− Vacancy
−$1.9K −$1.87/SF
EGI
$35.4K $34.13/SF
− OpEx
−$10.6K −$10.24/SF
NOI
$24.7K $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%
$495,000
Cap Rate 7%
$353,571
Cap Rate 9%
$275,000
Alternative Uses
Best Use
Retail
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$419.1K
$366.7K – $489.0K
NOI $29,337 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-span commercial unit with a full-glass frontage, private restroom, and high ceilings.
Where is this storefront property located?
The property is located at 320 Ohukai St #Unit 404 Kihei, HI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Approximately 1,036 square feet of open‑span commercial interior; Ground‑floor condominium unit at 320 Ohukai St #Unit 404; Full‑glass storefront brings natural light into the space
