Fee Simple Office
For Sale
$207,500
400 Hobron Lane 2b, Honolulu, HI 96815
Office unit with a meeting room, break area, storage, and access to on-site public parking in Waikiki.
Property Size669 SF
Price / SF$310.16
Days on Market37
Property Features for 400 Hobron Lane 2b
General Information
Standard status
Active
Size
669 SF
Building Details
Year Built
1977
Listing Agency:
Realty Brokerage LLC
(808) 946-2030
Listed By:
Hana Yoo · License #RB-21720
Source:
Paradisebrokers
Added: Jul 26
Changed: Aug 30
Last Checked: Aug 30 at 9:21PM
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 Realty Brokerage LLC
Investment Insights
Based on property information with market context.
This fee simple office unit at Villa on Eaton Square offers 669 square feet with a practical arrangement that includes a private meeting room, break room, and dedicated storage. The space is positioned for professional, administrative, medical, service-oriented, or general business operations, with a layout that can be adapted to changing requirements. The property was built in 1977.
Located at 400 Hobron Lane in Honolulu’s Waikiki area, the unit is part of a mixed-use setting surrounded by residential condominiums, shopping, dining, entertainment, and Waikiki attractions. On-site public parking is available, along with long-term parking options for owners, employees, and clients. Fee simple ownership provides a direct ownership structure for an owner-user or investor.
Located at 400 Hobron Lane in Honolulu’s Waikiki area, the unit is part of a mixed-use setting surrounded by residential condominiums, shopping, dining, entertainment, and Waikiki attractions. On-site public parking is available, along with long-term parking options for owners, employees, and clients. Fee simple ownership provides a direct ownership structure for an owner-user or investor.
Key Highlights
- 669‑square‑foot fee simple office unit at Villa on Eaton Square
- Private meeting room, break room, and dedicated storage area
- Located at 400 Hobron Lane 2b, Honolulu, HI 96815
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
$17,122
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
8.25%
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%
$342,440
$342.4K
Cap Rate 7%
$244,600
$244.6K
Cap Rate 9%
$190,244
$190.2K
Market Conditions
NOI Build-Up for 669 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
$26.1K $39.00/SF
− Vacancy
−$3.3K −$4.88/SF
EGI
$22.8K $34.13/SF
− OpEx
−$5.7K −$8.53/SF
NOI
$17.1K $25.59/SF
Area
Honolulu County, HI
Vacancy
12.50%
Lease Rate
$39.00 /SF/Yr
Expense Ratio
25.00%
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%
$342,440
Cap Rate 7%
$244,600
Cap Rate 9%
$190,244
Alternative Uses
Best Use
Office B
$244.6K
$214.0K – $285.4K
NOI $17,122 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$271.0K
$237.2K – $316.2K
NOI $18,973 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit with a meeting room, break area, storage, and access to on-site public parking in Waikiki.
Where is this office units located?
The property is located at 400 Hobron Lane 2b Honolulu, HI.
What is the asking price?
The asking price for this property is $207,500.
What are key features of this property?
This property features: 669‑square‑foot fee simple office unit at Villa on Eaton Square; Private meeting room, break room, and dedicated storage area; Located at 400 Hobron Lane 2b, Honolulu, HI 96815
