Kihei Commercial Plaza Industrial
For Sale
$699,000
330 Ohukai Rd #Unit 115, Kihei, HI 96753
M-1 zoned industrial condo in central Kihei location.
Property Size1,950 SF
Price / SF$358.46
Days on Market192
Property Features for 330 Ohukai Rd #Unit 115
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Commercial
Listing Agency:
COMMERCIAL PROP OF MAUI LLC
(808) 244-2200
Listed By:
JON MCCABE RS-81707
Source:
Corcoran
Added: Feb 24
Changed: Sep 3
Last Checked: Sep 2 at 8:40PM
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 PROP OF MAUI LLC
Investment Insights
Based on property information with market context.
Located in Kihei Commercial Plaza, this fee simple M-1 industrial condo, Unit 115, features a permitted interior area of 1,950 square feet. The layout includes 1,125 square feet of ground floor warehouse space and an 825-square-foot permitted mezzanine, along with an additional approximately 300 square feet of mezzanine area. The M-1 zoning allows for contractor, service, light industrial, warehouse, distribution, repair, and retail uses. The property includes three parking stalls and two restrooms, one upstairs and one downstairs. The location is in central Kihei, providing easy access. AOAO dues are approximately $650 per month, covering water and trash services.
Key Highlights
- 1,950 SF permitted interior area with warehouse and mezzanine space, plus approx. 300 SF additional mezzanine.
- M‑1 zoning allows for a variety of uses including contractor, service, light industrial, and retail.
- Central Kihei industrial location with easy access.
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
$30,983
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
4.43%
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%
$619,660
$619.7K
Cap Rate 7%
$442,614
$442.6K
Cap Rate 9%
$344,256
$344.3K
Market Conditions
NOI Build-Up for 1,950 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
$49.1K $25.20/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$47.7K $24.44/SF
− OpEx
−$16.7K −$8.56/SF
NOI
$31.0K $15.89/SF
Area
Maui County, HI
Vacancy
3.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
35.00%
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%
$619,660
Cap Rate 7%
$442,614
Cap Rate 9%
$344,256
Alternative Uses
Best Use
Flex RnD
$442.6K
$387.3K – $516.4K
NOI $30,983 @ 7.0% cap · market cap 4.43%
Second Best
Industrial
$345.4K
$302.2K – $403.0K
NOI $24,177 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$788.8K
$690.2K – $920.3K
NOI $55,219 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - M-1 zoned industrial condo in central Kihei location.
Where is this flex space located?
The property is located at 330 Ohukai Rd #Unit 115 Kihei, HI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,950 SF permitted interior area with warehouse and mezzanine space, plus approx. 300 SF additional mezzanine.; M‑1 zoning allows for a variety of uses including contractor, service, light industrial, and retail.; Central Kihei industrial location with easy access.
