Waimea Commercial Property For
64-1015 MAMALAHOA HIGHWAY Kamuela, HI 96743
64-1015 MAMALAHOA HIGHWAY, Kamuela, HI, 96743
$6,999,000
For Sale
$6,999,000
Two fully occupied warehouse buildings with storage, retail, and residential uses.
Property Size14,935 SF
Price / SF$468.63
Days on Market219
Property Features for 64-1015 MAMALAHOA HIGHWAY
General Information
- Standard status
- Active
- Size
- 14,935 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1987
Listing Agency
KW BIG ISLAND
(808) 930-5900
Listed by
CHIAKI YAMADA · License #RB-23465,HAWAII
Source
Corcoran
Added: Dec 13, 2025 Checked: Jul 20 at 3:56 am
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 KW BIG ISLAND
Investment Insights
Based on property information with market context.
This fee simple commercial property in Waimea features two fully occupied warehouse buildings suitable for storage, retail, and residential purposes. Building 1 is a warehouse structure with three individual storage/garage bays totaling approximately 5,000 square feet (approximately 1,666 square feet each), and three one-bedroom, one-bath residential units totaling roughly 2,500 square feet. Building 2 includes two large warehouse bays totaling approximately 4,485 square feet, one with a mezzanine currently used as an office. Adjacent to the warehouse is a 1,450-square-foot retail space. Above the retail space, the second floor offers two one-bedroom, one-bath residential units with a laundry room totaling 1,450 square feet. The property is zoned Neighborhood Commercial 7.5, supporting services for nearby residents and workers, while accommodating a range of commercial and residential needs. All units in both buildings are fully leased, providing immediate income. The property is located 0.8 miles northeast of central Waimea. Waimea is home to approximately 10,000 residents and its economy is rooted in ranching, farming, and support services for the Mauna Kea observatories. The town also features two established private schools and a private hospital offering acute and emergency care. Parker Ranch is headquartered here, contributing to Waimea’s Paniolo heritage and expansive pastoral landscapes. The property size is 14,935 square feet.
Key Highlights
- Fully leased property provides immediate income.
- Two buildings offer a versatile mix of storage/garage, retail, and residential units.
- Zoned Neighborhood Commercial 7.5, supporting a broad range of commercial and residential uses.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $492.9k | $33.00 |
| − Vacancy | −$32.0k | −$2.15 |
| EGI | $460.8k | $30.86 |
| − OpEx | −$138.2k | −$9.26 |
| NOI | $322.6k | $21.60 |
14,935 SF · lease $33.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.61M
$4.03M – $5.38M
NOI $322,574 @ 7.0% cap · market cap 4.61%
Second Best
Mixed Use
$4.03M
$3.52M – $4.70M
NOI $281,851 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$5.10M
$4.46M – $5.95M
NOI $356,791 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two fully occupied warehouse buildings with storage, retail, and residential uses.
Where is this mixed-use property located?
The property is located at 64-1015 MAMALAHOA HIGHWAY Kamuela, HI.
What is the asking price?
The asking price for this property is $6,999,000.
What are key features of this property?
This property features: Fully leased property provides immediate income.; Two buildings offer a versatile mix of storage/garage, retail, and residential units.; Zoned Neighborhood Commercial 7.5, supporting a broad range of commercial and residential uses.
