New 2024 Industrial Flex
For Sale
$4,200,000
401 E Ahuliu Way #Units 101-104, Wailuku, HI 96793
Newly constructed 2024 small-bay industrial condos offer grade-level roll up doors, 22' clear height, and flexible unit configuration.
Property Size8,584 SF
Price / SF$489.28
Days on Market147
Property Features for 401 E Ahuliu Way #Units 101-104
General Information
Standard status
Active
Size
8,584 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
22 ft
Heavy Power
Yes
Sprinkler System
Yes
Building Details
Year Built
2024
Construction
Type II-B
Listing Agency:
COMMERCIAL PROP OF MAUI LLC
(808) 244-2200
Listed By:
JON MCCABE RS-81707 · License #HI-27376
Source:
Corcoran
Added: May 23
Changed: Oct 15
Last Checked: Oct 16 at 8:51AM
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
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Investment Insights
Based on property information with market context.
Newly constructed in 2024, this industrial warehouse project consists of four separately condominiumized small bay units totaling approximately 8,584 SF. The property is designed for flexible occupancy, with the option for full contiguous use or future division into individual units. Warehouse improvements include approximately 27' center ceiling heights with approximately 22' clear height to steel.
The facility features modern fire suppression systems and Type II-B construction, with grade level roll up doors and 3-phase power throughout. Electrical service is provided via 2 electrical submeters servicing the current 4-bay configuration, and completed and permitted restroom plans are included. The building design also accommodates potential future mezzanine improvements.
The facility features modern fire suppression systems and Type II-B construction, with grade level roll up doors and 3-phase power throughout. Electrical service is provided via 2 electrical submeters servicing the current 4-bay configuration, and completed and permitted restroom plans are included. The building design also accommodates potential future mezzanine improvements.
Key Highlights
- Newly constructed in 2024: 4 separately condominiumized industrial small‑bay units totaling approx. 8,584 SF
- Flexible occupancy: use as fully contiguous space or future division into individual units
- Warehouse ceiling heights approx. 27' center with approx. 22' clear height to steel for light industrial, contractor, and distribution use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,388
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,727,760
$2.7M
Cap Rate 7%
$1,948,400
$1.9M
Cap Rate 9%
$1,515,422
$1.5M
Market Conditions
NOI Build-Up for 8,584 SF
Gross rent
$216.3K $25.20/SF
− Vacancy
−$6.5K −$0.76/SF
EGI
$209.8K $24.44/SF
− OpEx
−$73.4K −$8.56/SF
NOI
$136.4K $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 Rate 5%
$2,727,760
Cap Rate 7%
$1,948,400
Cap Rate 9%
$1,515,422
Alternative Uses
Best Use
Flex RnD
$1.95M
$1.70M – $2.27M
NOI $136,388 @ 7.0% cap · market cap 3.25%
Second Best
Warehouse
$1.85M
$1.62M – $2.15M
NOI $129,234 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$3.47M
$3.04M – $4.05M
NOI $243,075 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
22 ft
Clear height
Yes
Heavy power
Yes
Sprinkler system
Location Intelligence
Demographics for 96793, HI
31,939
Population
11,510
Households
2.8
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
76.1 sq mi
ZIP Area
420
Density / Sq Mi
$104,220
Median Household Income
$47,026
Median Earnings
$1,797
Median Rent
$776,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed 2024 small-bay industrial condos offer grade-level roll up doors, 22' clear height, and flexible unit configuration.
Where is this flex space located?
The property is located at 401 E Ahuliu Way #Units 101-104 Wailuku, HI.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Newly constructed in 2024: 4 separately condominiumized industrial small‑bay units totaling approx. 8,584 SF; Flexible occupancy: use as fully contiguous space or future division into individual units; Warehouse ceiling heights approx. 27' center with approx. 22' clear height to steel for light industrial, contractor, and distribution use
