45-3505 Mamane St, Honokaa, HI 96727

Building Details

Year Built 1929 More

Buildings 2 More

Listing Agency: Hawaii Life

Listed By: Dan Ishikawa · License #76593 Show Phone

Source: Hawaiiclient

Added: Nov 4 Last Checked: Nov 6 at 5:56AM

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Investment Insights

Based on property information with market context.

This mixed-use property at 45-3505 Mamane St comprises two separate buildings. The 1,572-square-foot main structure, built in 1929, is a two-bedroom, one-bathroom plantation home with a dining area adjoining the kitchen and a covered front porch. A permitted studio/ohana sits behind the house and includes a wet bar with kitchenette, custom cabinetry, concrete counters, hardwood flooring, vaulted ceilings, a separate bedroom, and a bathroom with a jetted tub and tile and mosaic finishes.

The property is zoned CV-10 and has a concrete driveway with space for vehicle parking. It is within walking distance of Honokaa stores, schools, library, and restaurants. The yard is described as simple to maintain.

Key Highlights

• CV‑10 commercial zoning
• Two separate structures, including a permitted studio/ohana
• 1,572‑square‑foot main home built in 1929

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,667

Cap Rate

4.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$593,340 $593.3K

Cap Rate 7%

$423,814 $423.8K

Cap Rate 9%

$329,633 $329.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,572 SF

Gross rent

$51.9K $33.00/SF

− Vacancy

−$4.4K −$2.81/SF

EGI

$47.5K $30.20/SF

− OpEx

−$17.8K −$11.32/SF

NOI

$29.7K $18.87/SF

Area

Hawaii County, HI

Vacancy

8.50%

Lease Rate

$33.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$593,340

Cap Rate 7%

$423,814

Cap Rate 9%

$329,633

Alternative Uses

Best Use

Mixed Use

$423.8K

$370.8K – $494.5K (±1% cap)

NOI $29,667 @ 7.0% cap · market cap 4.56%

Second Best

Office B

$319.7K

$279.7K – $373.0K (±1% cap)

NOI $22,379 @ 7.0% cap · market cap 3.44%

Theoretical Best

Specialty Retail

$536.5K

$469.4K – $625.9K (±1% cap)

NOI $37,554 @ 7.0% cap · market cap 5.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Live-work space

Lease Details

Yes

Paved road access

Location Intelligence

Demographics for 96727, HI

4,990

Population

1,642

Households

3

Avg Household Size

45

Median Age

24%

College-Educated

91%

High-School Grad

189.5 sq mi

ZIP Area

26

Density / Sq Mi

$83,534

Median Household Income

$37,124

Median Earnings

$1,218

Median Rent

$559,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two distinct buildings combine a plantation-era residence with a permitted studio space in Honokaa.

Where is this mixed-use property located?

The property is located at 45-3505 Mamane St Honokaa, HI.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: CV‑10 commercial zoning; Two separate structures, including a permitted studio/ohana; 1,572‑square‑foot main home built in 1929