Mixed-Use Commercial
For Sale
$250,000
400 Hobron Lane 411, Honolulu, HI 96815
Flexible interior offers an open workspace plus two enclosed sections with doors.
Property Size716 SF
Price / SF$349.16
Days on Market8
Property Features for 400 Hobron Lane 411
General Information
Standard status
Active
Size
716 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$2,918
Building Details
Building Size
716 SF
Year Built
1977
Listing Agency:
Advisors Realty
Listed By:
Andrew YD Leong · License #RB-21696
(808) 230-3017
Source:
Commercialinvestmentstrategies
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 24 at 6:23PM
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 Advisors Realty
Investment Insights
Based on property information with market context.
This 716-square-foot commercial condominium is located within Eaton Square Shopping Center, a garden-style office and retail development. Built in 1977, the unit provides an open central area along with two semi-partitioned sections that include doors, creating a practical layout for office, retail, or other commercial use supported by the property’s mixed-use classification.
The property is situated at 400 Hobron Lane in West Waikiki, Honolulu. Its placement within an established shopping center combines a commercial condominium format with an adaptable interior configuration.
The property is situated at 400 Hobron Lane in West Waikiki, Honolulu. Its placement within an established shopping center combines a commercial condominium format with an adaptable interior configuration.
Key Highlights
- 716‑square‑foot commercial condominium unit
- Located in Eaton Square Shopping Center
- Open central area with two semi‑partitioned sections
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
$18,952
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
7.58%
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%
$379,040
$379.0K
Cap Rate 7%
$270,743
$270.7K
Cap Rate 9%
$210,578
$210.6K
Market Conditions
NOI Build-Up for 716 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
$28.4K $39.72/SF
− Vacancy
−$1.4K −$1.91/SF
EGI
$27.1K $37.81/SF
− OpEx
−$8.1K −$11.34/SF
NOI
$19.0K $26.47/SF
Area
Honolulu County, HI
Vacancy
4.80%
Lease Rate
$39.72 /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%
$379,040
Cap Rate 7%
$270,743
Cap Rate 9%
$210,578
Alternative Uses
Best Use
Retail
$270.7K
$236.9K – $315.9K
NOI $18,952 @ 7.0% cap · market cap 7.58%
Second Best
Mixed Use
$176.4K
$154.4K – $205.9K
NOI $12,351 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$290.1K
$253.8K – $338.4K
NOI $20,306 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 96815, HI
28,786
Population
22,804
Households
1.3
Avg Household Size
48
Median Age
47%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
13,085
Density / Sq Mi
$75,020
Median Household Income
$55,543
Median Earnings
$1,903
Median Rent
$627,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible interior offers an open workspace plus two enclosed sections with doors.
Where is this mixed-use property located?
The property is located at 400 Hobron Lane 411 Honolulu, HI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 716‑square‑foot commercial condominium unit; Located in Eaton Square Shopping Center; Open central area with two semi‑partitioned sections
