Hilo Stand Alone Retail
374 KAMEHAMEHA AVE Hilo, HI 96720
374 KAMEHAMEHA AVE, Hilo, HI, 96720
$899,000
For Sale
$899,000
High-visibility corner location near Hilo Farmers Market.
Property Size1,280 SF
Price / SF$702.34
Days on Market103
Property Features for 374 KAMEHAMEHA AVE
General Information
- Standard status
- Active
- Size
- 1,280 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1944
Listing Agency
HILO FARMERS MARKET REALTY LLC
(808) 933-1000
Listed by
KEITH DE LA CRUZ · License #RB-22301
Source
Corcoran
Added: Apr 7 Checked: Jul 17 at 7:30 pm
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 HILO FARMERS MARKET REALTY LLC
Investment Insights
Based on property information with market context.
This stand-alone building is situated on a high-visibility corner location at the entrance to historic downtown Hilo, adjacent to the Hilo Farmers Market. The property benefits from significant foot traffic and open Hilo Bay views. Located across Kamehameha Avenue are the Mooheau bandstand, bus station, and park. The property is zoned CDH - Commercial Downtown Hilo, which is one of the highest and most dense use zoning designations allowed on Hawai'i Island. The property offers potential for an owner-user with a mid- to long-term business model. The building has 1280 square feet of space. In the first nine months of 2025, the Hawaii DBEDT reported approximately 1.32 million visitors to Hawai'i Island, with an estimated 264,000 to 396,000 visiting the downtown Hilo area.
Key Highlights
- High visibility corner location at the entrance to historic downtown Hilo and adjacent to the Hilo Farmers Market.
- Rare, stand‑alone building on Kamehameha Ave with fantastic foot traffic.
- Open Hilo Bay views.
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 | $42.2k | $33.00 |
| − Vacancy | −$2.7k | −$2.15 |
| EGI | $39.5k | $30.86 |
| − OpEx | −$11.8k | −$9.26 |
| NOI | $27.6k | $21.60 |
1,280 SF · lease $33.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$394.9K
$345.6K – $460.8K
NOI $27,646 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$436.8K
$382.2K – $509.7K
NOI $30,579 @ 7.0% cap · market cap 3.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - High-visibility corner location near Hilo Farmers Market.
Where is this storefront property located?
The property is located at 374 KAMEHAMEHA AVE Hilo, HI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: High visibility corner location at the entrance to historic downtown Hilo and adjacent to the Hilo Farmers Market.; Rare, stand‑alone building on Kamehameha Ave with fantastic foot traffic.; Open Hilo Bay views.
