Corner Medical Office
For Sale
$238,000
321 N Kuakini St Unit 410, Honolulu, HI 96817
Medical office suite with patient reception, multiple rooms, large windows, and a lead-shielded partitioned area.
Property Size1,109 SF
Price / SF$214.61
Days on Market115
Property Features for 321 N Kuakini St Unit 410
General Information
Standard status
Active
Size
1,109 SF
Building Details
Year Built
1979
Listing Agency:
Coldwell Banker Realty
(808) 225-0569
Listed By:
James E Lewis · License #RB-14807
Source:
Paradisebrokers
Added: May 8
Changed: Aug 29
Last Checked: Aug 25 at 5:17AM
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 Realty
Investment Insights
Based on property information with market context.
Medical office space in Unit 410 at 321 N Kuakini Street, built in 1979. The corner configuration includes a reception and waiting area, five rooms, and three large windows that provide views and natural light. One room contains a partially partitioned wall with lead shielding, a specialized feature for certain medical office applications.
The property is near several other medical facilities and includes parking with the first hour free. Adjacent Units 411 and 411A are also available, providing an option to consider additional nearby space.
The property is near several other medical facilities and includes parking with the first hour free. Adjacent Units 411 and 411A are also available, providing an option to consider additional nearby space.
Key Highlights
- Corner Unit 410 with reception and waiting area
- Five rooms configured within the medical office suite
- Three large windows with views
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
$20,010
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
8.41%
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%
$400,200
$400.2K
Cap Rate 7%
$285,857
$285.9K
Cap Rate 9%
$222,333
$222.3K
Market Conditions
NOI Build-Up for 1,109 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 $33.60/SF
− Vacancy
−$3.9K −$3.53/SF
EGI
$33.3K $30.07/SF
− OpEx
−$13.3K −$12.03/SF
NOI
$20.0K $18.04/SF
Area
Honolulu County, HI
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$400,200
Cap Rate 7%
$285,857
Cap Rate 9%
$222,333
Alternative Uses
Best Use
Office B
$405.5K
$354.8K – $473.1K
NOI $28,383 @ 7.0% cap · market cap 11.93%
Second Best
Healthcare Medical
$285.9K
$250.1K – $333.5K
NOI $20,010 @ 7.0% cap · market cap 8.41%
Theoretical Best
Specialty Retail
$449.3K
$393.1K – $524.2K
NOI $31,451 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
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?
Medical Office Space - Medical office suite with patient reception, multiple rooms, large windows, and a lead-shielded partitioned area.
Where is this medical office space located?
The property is located at 321 N Kuakini St Unit 410 Honolulu, HI.
What is the asking price?
The asking price for this property is $238,000.
What are key features of this property?
This property features: Corner Unit 410 with reception and waiting area; Five rooms configured within the medical office suite; Three large windows with views
