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Waimea Town Investment Opportunity

65-1291 KAWAIHAE RD Kamuela, HI 96743

65-1291 KAWAIHAE RD, Kamuela, HI, 96743
$4,500,000
For Sale
Claim this Listing
$4,500,000

Two buildings on nearly an acre with highway frontage.

Property Size11,615 SF
Lot Size0.99 Acres
Price / SF$387.43
AddedApr 2
Days on Market106
Last RefreshJul 15 at 12:04 pm

Property Features for 65-1291 KAWAIHAE RD

General Information

Standard status
Active
Size
11,615 SF
Lot size
0.99 Acres
Property subtype
Commercial

Building Details

Year Built
1910

Listing office COMPASS

Listing date Apr 2, 2026

Source Corcoran

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 COMPASS


Investment Insights

Based on property information with market context.

This unique property, located in Waimea Town, presents an exceptional investment opportunity. Zoned CV 7.5, the property includes two distinct buildings situated on nearly an acre of prime real estate with direct highway frontage. The larger building, constructed in 1999, features 16 units, offering significant income potential. Complementing this is a charming historic landmark home built in 1910, adding character and versatility to the portfolio. The property includes two parking lots and benefits from a highly visible location on Kawaihae Road, positioning it well for a variety of business ventures. The property has 11615 square feet of space. Both buildings are currently at full occupancy.

Key Highlights

  • High income potential with 16 units in a building constructed in 1999.
  • Prime real estate location with direct highway frontage on Kawaihae Road.
  • Zoned CV 7.5, suitable for a variety of business ventures.

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 $383.3k $33.00
− Vacancy −$24.9k −$2.15
EGI $358.4k $30.86
− OpEx −$107.5k −$9.26
NOI $250.9k $21.60
11,615 SF · lease $33.00/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use
Retail
$3.58M
$3.14M – $4.18M (±1% cap)
NOI $250,867 @ 7.0% cap · market cap 5.57%
Second Best
Mixed Use
$3.13M
$2.74M – $3.65M (±1% cap)
NOI $219,197 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$3.96M
$3.47M – $4.62M (±1% cap)
NOI $277,478 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Mixed-use properties

FAQs

What type of property is this?
Mixed-use property - Two buildings on nearly an acre with highway frontage.
Where is this mixed-use property located?
The property is located at 65-1291 KAWAIHAE RD Kamuela, HI.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: High income potential with 16 units in a building constructed in 1999.; Prime real estate location with direct highway frontage on Kawaihae Road.; Zoned CV 7.5, suitable for a variety of business ventures.
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More about this property
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