Waimea Commercial Property For
For Sale
$6,999,000
64-1015 MAMALAHOA HIGHWAY, Kamuela, HI 96743
Two fully occupied warehouse buildings with storage, retail, and residential uses.
Property Size14,935 SF
Price / SF$468.63
Days on Market311
Property Features for 64-1015 MAMALAHOA HIGHWAY
General Information
Standard status
Active
Size
14,935 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$20,261
Building Details
Building Size
14,935 SF
Year Built
1987
Listing Agency:
KW Big Island
Listed By:
Chiaki Yamada · License #RB-23465,HAWAII
(808) 331-1300
Source:
Deepbluehi
Added: Dec 12, 2025
Changed: Oct 7
Last Checked: Oct 16 at 5:46AM
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
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 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$322,574
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,451,480
$6.5M
Cap Rate 7%
$4,608,200
$4.6M
Cap Rate 9%
$3,584,156
$3.6M
Market Conditions
NOI Build-Up for 14,935 SF
Gross rent
$492.9K $33.00/SF
− Vacancy
−$32.0K −$2.15/SF
EGI
$460.8K $30.86/SF
− OpEx
−$138.2K −$9.26/SF
NOI
$322.6K $21.60/SF
Area
Hawaii County, HI
Vacancy
6.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,451,480
Cap Rate 7%
$4,608,200
Cap Rate 9%
$3,584,156
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 authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Demographics for 96743, HI
13,339
Population
6,690
Households
2
Avg Household Size
44
Median Age
42%
College-Educated
95%
High-School Grad
292.3 sq mi
ZIP Area
46
Density / Sq Mi
$98,177
Median Household Income
$51,000
Median Earnings
$2,023
Median Rent
$724,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
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.
