Small Office Condo For
For Sale
$225,000
725 Kapiolani Boulevard C312, Honolulu, HI 96813
Office condo unit for sale with tenant in place.
Property Size256 SF
Price / SF$878.91
Days on Market334
Property Features for 725 Kapiolani Boulevard C312
General Information
Standard status
Active
Size
256 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$2,424
Building Details
Building Size
256 SF
Year Built
1990
Listing Agency:
Lau & Associates, LLC
Listed By:
Steven H Lau · License #RB-20307
(808) 223-0074
Source:
Careyluxury
Added: Oct 7, 2025
Changed: Aug 23
Last Checked: Sep 5 at 8:20AM
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 Lau & Associates, LLC
Investment Insights
Based on property information with market context.
This commercial real estate offers a small office condo unit for sale, suitable for CPAs, attorneys, Realtors, and other small office users. The unit provides approximately 256 square feet of space, measuring 16 ft x 16 ft. It includes one assigned parking stall (Stall #2105S), with additional customer parking available in common with other commercial units during parking garage hours. Customers receive two hours of free parking with validation. A newer AC unit is installed. The unit is currently tenant-occupied, with the lease expiring on February 28, 2026. The tenant's current gross rent is $1,255.50 per month. The parking stall is rented separately for $157.00 per month. The tenant is charged for electricity reimbursement. The monthly maintenance fee is $474.26.
Key Highlights
- Tenant in place until 2/28/26, generating $1,255.50/month gross income plus electricity reimbursement.
- Additional $157.00/month income from separate parking stall rental.
- Ideal for CPAs, attorneys, Realtors, and small office users.
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
$6,552
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
2.91%
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%
$131,040
$131.0K
Cap Rate 7%
$93,600
$93.6K
Cap Rate 9%
$72,800
$72.8K
Market Conditions
NOI Build-Up for 256 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
$10.0K $39.00/SF
− Vacancy
−$1.2K −$4.88/SF
EGI
$8.7K $34.13/SF
− OpEx
−$2.2K −$8.53/SF
NOI
$6.6K $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%
$131,040
Cap Rate 7%
$93,600
Cap Rate 9%
$72,800
Alternative Uses
Best Use
Office B
$93.6K
$81.9K – $109.2K
NOI $6,552 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$103.7K
$90.8K – $121.0K
NOI $7,260 @ 7.0% cap · market cap 3.23%
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 - Office condo unit for sale with tenant in place.
Where is this office units located?
The property is located at 725 Kapiolani Boulevard C312 Honolulu, HI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Tenant in place until 2/28/26, generating $1,255.50/month gross income plus electricity reimbursement.; Additional $157.00/month income from separate parking stall rental.; Ideal for CPAs, attorneys, Realtors, and small office users.
