Waimea Town Plaza Commercial
For Sale
$449,000
64-1061 MAMALAHOA HIGHWAY #101, Kamuela, HI 96743
Commercial space with high visibility and flexible zoning in Waimea.
Property Size616 SF
Price / SF$728.90
Days on Market144
Property Features for 64-1061 MAMALAHOA HIGHWAY #101
General Information
Standard status
Active
Size
616 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,362
Amenities
Assigned
Washer/Dryer Stacked
Building Details
Year Built
1984
Listing Agency:
HAPUNA REALTY
(808) 657-4292
Listed By:
KEMI KIDANI
Source:
Corcoran
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 8 at 11:59AM
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 HAPUNA REALTY
Investment Insights
Based on property information with market context.
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 suitable for various business uses. Situated along Mamalahoa Highway, which connects 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 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 the convenience of an assigned parking stall. This is a compelling opportunity for entrepreneurs, investors, or business owners seeking a strategic location with visibility and long-term potential. The property has a size of 616 square feet.
Key Highlights
- Prime location in the heart of Waimea with outstanding visibility on Mamalahoa Highway.
- Flexible Neighborhood Commercial zoning allows for a wide variety of business uses.
- Ground floor unit (101) provides easy access for clients and excellent exposure.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,305
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,100
$266.1K
Cap Rate 7%
$190,071
$190.1K
Cap Rate 9%
$147,833
$147.8K
Market Conditions
NOI Build-Up for 616 SF
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.
Gross rent
$20.3K $33.00/SF
− Vacancy
−$1.3K −$2.15/SF
EGI
$19.0K $30.86/SF
− OpEx
−$5.7K −$9.26/SF
NOI
$13.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,100
Cap Rate 7%
$190,071
Cap Rate 9%
$147,833
Alternative Uses
Best Use
Retail
$190.1K
$166.3K – $221.8K
NOI $13,305 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$210.2K
$184.0K – $245.3K
NOI $14,716 @ 7.0% cap · market cap 3.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial space with high visibility and flexible zoning in Waimea.
Where is this retail space located?
The property is located at 64-1061 MAMALAHOA HIGHWAY #101 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 location in the heart of Waimea with outstanding visibility on Mamalahoa Highway.; Flexible Neighborhood Commercial zoning allows for a wide variety of business uses.; Ground floor unit (101) provides easy access for clients and excellent exposure.
