Honolulu Office Condo For
For Sale
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725 Kapiolani Blvd Suite C310, Honolulu, HI 96813
Centrally located office condo in Honolulu's urban core.
Property Size1,853 SF
Price / SF$701.57
Days on Market197
Property Features for 725 Kapiolani Blvd Suite C310
General Information
Standard status
Active
Size
1,853 SF
Total Parking Spaces
18
Property subtype
Office
Zoning
KAK-HCDA (Kaka'ako Community Development District)
Investment Type
Net Lease
Net Operating Income
$60,000
Building Details
Stories
4
Tenancy
Single
Listing Agency:
Colliers - Honolulu, Hawaii
Listed By:
Erin Mitsuyoshi (B) CCIM · License #HI 71396
Source:
Crexi
Added: Feb 5
Changed: Aug 18
Last Checked: Aug 20 at 5:37AM
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 Colliers - Honolulu, Hawaii
Investment Insights
Based on property information with market context.
This commercial office condo is centrally located within the Honolulu urban core, specifically in the Ala Moana/Kakaʻako neighborhood area. Situated directly between Downtown Honolulu, Ala Moana Center, and Ward Village, the property benefits from daily traffic generated by nearby high-rise residential towers, office buildings, neighboring businesses, retailers, and restaurants. The property is located in a mixed-use building at 725 Kapiolani, consisting of a high-rise residential component and a low-rise commercial component. With a property size of 1853 square feet, this commercial office condo is well-suited for owner-users for professional office, medical, showroom, or boutique service uses.
Key Highlights
- Irreplaceable central location between Downtown Honolulu, Ala Moana Center, and Ward Village.
- Benefits from high daily traffic due to nearby residential towers, office buildings, and businesses.
- Mixed‑use building with both residential and commercial components.
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
$47,425
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
3.65%
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%
$948,500
$948.5K
Cap Rate 7%
$677,500
$677.5K
Cap Rate 9%
$526,944
$526.9K
Market Conditions
NOI Build-Up for 1,853 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
$72.3K $39.00/SF
− Vacancy
−$9.0K −$4.88/SF
EGI
$63.2K $34.13/SF
− OpEx
−$15.8K −$8.53/SF
NOI
$47.4K $25.59/SF
Area
Honolulu County, HI
Vacancy
12.50%
Lease Rate
$39.00 /SF/Yr
Expense Ratio
25.00%
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%
$948,500
Cap Rate 7%
$677,500
Cap Rate 9%
$526,944
Alternative Uses
Best Use
Office B
$677.5K
$592.8K – $790.4K
NOI $47,425 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$750.7K
$656.9K – $875.9K
NOI $52,551 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96813, HI
27,372
Population
13,511
Households
2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
7,603
Density / Sq Mi
$87,799
Median Household Income
$57,619
Median Earnings
$1,821
Median Rent
$804,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Centrally located office condo in Honolulu's urban core.
Where is this office units located?
The property is located at 725 Kapiolani Blvd Suite C310 Honolulu, HI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Irreplaceable central location between Downtown Honolulu, Ala Moana Center, and Ward Village.; Benefits from high daily traffic due to nearby residential towers, office buildings, and businesses.; Mixed‑use building with both residential and commercial components.
