Warehouse With Office
For Sale
$2,800,000
74-567 HONOKOHAU ST #4, Kailua Kona, HI 96740
Warehouse property with mezzanine space, three-phase power, and separately marketable bays.
Property Size7,920 SF
Price / SF$353.54
Days on Market89
Property Features for 74-567 HONOKOHAU ST #4
General Information
Standard status
Active
Size
7,920 SF
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
7,920 SF
Mezzanine
4,032 SF
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$17,856
Amenities
Corner Lot
Assigned
Building Details
Year Built
2004
Listing Agency:
GO COMMERCIAL, LLC
(808) 329-6446
Listed By:
GREGORY G. OGIN · License ##RB-16053
Source:
Corcoran
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 GO COMMERCIAL, LLC
Investment Insights
Based on property information with market context.
This warehouse property includes a 7,920-square-foot first floor and a 4,032-square-foot office and storage mezzanine. Built in 2004, the building is served by three-phase electric service and includes bays that may be sold separately.
The property at 74-567 Honokohau St #4 in Kailua-Kona includes five parking spaces associated with each TMK included in the transaction. TMK 3-4-24-3-4,5,11,12 are part of the sale, and a septic tank is planned for installation at the building.
The property at 74-567 Honokohau St #4 in Kailua-Kona includes five parking spaces associated with each TMK included in the transaction. TMK 3-4-24-3-4,5,11,12 are part of the sale, and a septic tank is planned for installation at the building.
Key Highlights
- 7,920 SF warehouse first floor
- 4,032 sq/ft office storage mezzanine
- Three phase electric service
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
$124,511
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
4.45%
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%
$2,490,220
$2.5M
Cap Rate 7%
$1,778,729
$1.8M
Cap Rate 9%
$1,383,456
$1.4M
Market Conditions
NOI Build-Up for 7,920 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
$148.3K $18.72/SF
− Vacancy
−$1.8K −$0.22/SF
EGI
$146.5K $18.50/SF
− OpEx
−$22.0K −$2.77/SF
NOI
$124.5K $15.72/SF
Area
Hawaii County, HI
Vacancy
1.20%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
15.00%
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%
$2,490,220
Cap Rate 7%
$1,778,729
Cap Rate 9%
$1,383,456
Alternative Uses
Best Use
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,511 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.70M
$2.37M – $3.15M
NOI $189,206 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96740, HI
38,234
Population
19,119
Households
2
Avg Household Size
45
Median Age
35%
College-Educated
94%
High-School Grad
242.4 sq mi
ZIP Area
158
Density / Sq Mi
$94,091
Median Household Income
$42,605
Median Earnings
$1,692
Median Rent
$730,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with mezzanine space, three-phase power, and separately marketable bays.
Where is this warehouse located?
The property is located at 74-567 HONOKOHAU ST #4 Kailua Kona, HI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 7,920 SF warehouse first floor; 4,032 sq/ft office storage mezzanine; Three phase electric service
