Modernized Flex
For Sale
Contact for pricing
501 Sumner Street Suite 620, Honolulu, HI 96817
Two-level commercial suite combining built-out offices with adaptable warehouse space in an established Honolulu employment district.
Property Size39,061 SF
Price / SF$288.01
Days on Market63
Property Features for 501 Sumner Street Suite 620
General Information
Standard status
Active
Size
39,061 SF
Total Parking Spaces
54
Property subtype
Office, Industrial
Zoning
IMX-1
Investment Type
Owner/User
Additional Details
Floor
First and Second Floors
Amenities
conference room
kitchen
breakroom
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Colliers - Honolulu, Hawaii
Listed By:
Karen Birkett · License #HI 50512
Source:
Crexi
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 16 at 7:10AM
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 Colliers - Honolulu, Hawaii
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 39,061-square-foot flex property occupies the first and second floors of a multi-tenant professional building at 501 Sumner Street, Suite 620. The second floor is configured with multiple private offices, a large conference room suitable for training or group meetings, a full kitchen, and an employee breakroom. The ground floor provides industrial warehouse functionality, creating a combined office and warehouse layout for an owner-user. The property is fully modernized and move-in ready based on the existing build-out.
The site is in Honolulu’s Iwilei/Kalihi business district within the Downtown Transit Oriented Development District. Downtown Honolulu, Honolulu Harbor, major transportation routes, and commercial services are accessible from the property. Nearby commercial context includes Costco, Lowe’s, Home Depot, and Best Buy, with surrounding office, industrial, retail, and business-support uses. Zoning is IMX-1.
The site is in Honolulu’s Iwilei/Kalihi business district within the Downtown Transit Oriented Development District. Downtown Honolulu, Honolulu Harbor, major transportation routes, and commercial services are accessible from the property. Nearby commercial context includes Costco, Lowe’s, Home Depot, and Best Buy, with surrounding office, industrial, retail, and business-support uses. Zoning is IMX-1.
Key Highlights
- 39,061 SF across the first and second floors
- Second‑floor office build‑out with private offices and large conference room
- Full kitchen and employee breakroom included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$999,717
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,994,340
$20.0M
Cap Rate 7%
$14,281,671
$14.3M
Cap Rate 9%
$11,107,967
$11.1M
Market Conditions
NOI Build-Up for 39,061 SF
Gross rent
$1.52M $39.00/SF
− Vacancy
−$190.4K −$4.88/SF
EGI
$1.33M $34.13/SF
− OpEx
−$333.2K −$8.53/SF
NOI
$999.7K $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 Rate 5%
$19,994,340
Cap Rate 7%
$14,281,671
Cap Rate 9%
$11,107,967
Alternative Uses
Best Use
Office B
$14.28M
$12.50M – $16.66M
NOI $999,717 @ 7.0% cap · market cap 8.89%
Second Best
Warehouse
$8.89M
$7.78M – $10.37M
NOI $622,394 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$15.83M
$13.85M – $18.46M
NOI $1,107,773 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Flex space - Two-level commercial suite combining built-out offices with adaptable warehouse space in an established Honolulu employment district.
Where is this flex space located?
The property is located at 501 Sumner Street Suite 620 Honolulu, HI.
What is the asking price?
The asking price for this property is $11,250,000.
What are key features of this property?
This property features: 39,061 SF across the first and second floors; Second‑floor office build‑out with private offices and large conference room; Full kitchen and employee breakroom included
