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    Waimea Commercial Space Opportunity Title is generated by Realmo AI

    64-1061 MAMALAHOA HIGHWAY, Kamuela, HI 96743

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    Claim this Listing
    For Sale
    $449,000

    MULTI_FAMILY - Kamuela, HI

    Property size:
    616 SF
    Price / SF:
    $728/SF
    Added:
    Mar 19, 2026
    Days on Market:
    58
    Last Refresh:
    May 15 at 2:06 pm

    Property Features for 64-1061 MAMALAHOA HIGHWAY

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    CN-7.5
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Assigned
    Appliances
    Washer/Dryer Stacked
    Standard status
    Active
    APN
    3640060230001
    Size
    616 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3362

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1984
    Number of units
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Kemi Kidani
    Kemi Kidani

    Listing agent Kemi Kidani

    Listing office Hapuna Realty 68-1330 Mauna Lani Drive, Suite 130, Kamuela, HI

    Listing date Mar 19, 2026

    MLS# 728722

    Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime commercial space in the heart of Waimea.
    • Excellent visibility and convenient access on Mamalahoa Highway.
    • Flexible Neighborhood Commercial zoning allows for diverse business uses.
    • Ground floor unit with easy access and excellent exposure.
    • Ample guest parking and assigned parking stall.
    • Walking distance to Waimea's shops, restaurants, and services.

    Overview

    Located in the heart of Waimea, Unit 101 at Waimea Town Plaza presents a commercial space offering visibility, convenient access, and flexible Neighborhood Commercial zoning (CN-7.5), suitable for various business uses. Situated along Mamalahoa Highway, a main corridor connecting Kona and Hilo, Waimea Town Plaza is a mixed-use center combining local businesses with residential condominiums. The property is near Waimea's shops, restaurants, professional services, and daily conveniences. Positioned on the ground floor, Unit 101 provides accessibility for clients and customers along with exposure for businesses. The 616-square-foot space offers a flexible layout that can accommodate commercial uses such as a professional office, wellness practice, boutique retail space, or other service-based businesses. Owners and tenants benefit from guest parking nearby, along with an assigned parking stall. This is an opportunity for entrepreneurs, investors, or business owners seeking a location with visibility and long-term potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Kamuela
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.6607722
    Latitude
    20.0243276

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    FAQs

    What type of property is this?
    Retail space - Commercial space in Waimea Town Plaza with flexible zoning.
    Where is this retail space located?
    The property is located at 64-1061 MAMALAHOA HIGHWAY Kamuela, HI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Prime commercial space in the heart of Waimea.; Excellent visibility and convenient access on Mamalahoa Highway.; Flexible Neighborhood Commercial zoning allows for diverse business uses.
    (808) 228-4661
    We can help!
    Listing Contact
    Kemi Kidani
    Kemi Kidani
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    64-1061 MAMALAHOA HIGHWAY, Kamuela, HI 96743
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