Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    744 Kamehameha Avenue Hilo, HI 96720

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,990,000

    High-visibility corner lot in central Hilo, near landmarks.

    Type:Commercial Sale / Retail
    Added:
    Apr 14, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 14 at 8:21 pm

    Property Features for 744 Kamehameha Avenue

    General Information

    Standard status
    Active
    Property subtype
    Commercial Sale / Retail

    Building Details

    Year Built
    1961

    We can help!

    Listing Contact
    Keith De La Cruz

    Listing agent Keith De La Cruz License #RB-22301

    Listing office Hilo Farmers Market Realty LLC

    Listing date Apr 14, 2026

    Source Compass

    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 Hilo Farmers Market Realty LLC

    Overview

    Prime Commercial Property in Hilo

    This prime commercial property is centrally located in Hilo, offering high visibility on the corner of Kamehameha Avenue and Hawai'i Belt Road, a main corridor with high traffic. The property is situated within Wailoa Park and is an investment opportunity. It is located within walking distance of Federal, State, and County offices, the Hilo Farmers Market, banks, stores, restaurants, offices, Hilo Bayfront Beach Park, canoe houses, a boat ramp, docks, the statue of King Kamehameha the Great, Naniloa Golf Course, Lili'uokalani Gardens, the Hilo Hawaiian Trademark Hotel, and the Grand Naniloa Hotel Double Tree by Hilton. The property is also located approximately 8 minutes from Hilo International Airport. Formerly a retail and gas outlet, the underground tanks have been removed and environmental studies have been completed.
    Location Intelligence

    Current Use by Public Records

    Hilo AYSO Region ... Sports School Bayfront Motors Car Dealership Hilo Bayfront Soccer ... Park

    Map

    City
    Hilo
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.078276
    Latitude
    19.72182

    Nearby Similar for Sale

    • $1,775,000
      17,993 SF

      Downtown Hilo Commercial Opportunity

      Prime commercial property in downtown Hilo with repositioning potential.
      138 KAMEHAMEHA AVE, Hilo, HI 96720
      View Details
    • $300,000
      1,760 SF

      Waiakea Villas Commercial Office Space

      Large commercial office space with exam rooms and amenities.
      400 HUALANI ST, Hilo, HI 96720
      View Details
    • $429,000
      1,518 SF

      Hilo Lagoon Centre Office Units

      Office units in Hilo Lagoon Centre, usable in current condition.
      101 AUPUNI ST, Hilo, HI 96720
      View Details
    • $3,238,000
      11,996 SF

      Two-Story Commercial Building in Hilo

      Well-maintained commercial building with long-term NNN lease and strong income.
      891 ULULANI ST, Hilo, HI 96720
      View Details
    • $995,000
      1,892 SF

      Spacious Hilo Multi-Family Investment

      Two detached homes on a large lot, ideal for investors.
      360-A LAMA ST, Hilo, HI 96720
      View Details
    • $2,280,000
      4,557 SF

      Medical Building with Ample Parking

      Medical building featuring an elevator, multiple offices, and parking.
      126 PUUHONU WAY, Hilo, HI 96720
      View Details
    • $989,000
      5,464 SF

      Hilo Mixed-Use Property For Sale

      Mixed-use property with residential, commercial, and warehouse spaces.
      77 SILVA ST, Hilo, HI 96720
      View Details
    • $495,500
      3,900 SF

      Hilo Multifamily Investment Opportunity

      High-cash-flow investment property in downtown Hilo with income potential.
      82-D HOKU ST, Hilo, HI 96720
      View Details
    • $495,500
      594 SF

      Hilo Multi-Unit Investment Opportunity

      Downtown Hilo property with high income potential.
      82D Hoku St, Hilo, HI 96720
      View Details
    • $275,000
      1,217 SF

      Hilo Commercial Office Space Available

      Commercial office space in central Hilo location with high traffic.
      688 KUKUAU PLAZA unit: 210, Hilo, HI 96720
      View Details
    • $1,975,000
      9,455 SF

      Income-Producing Mixed-Use Property

      Mixed-use property with lease in place until 2029.
      1080 KILAUEA AVE, Hilo, HI 96720
      View Details
    • $1,775,000
      17,993 SF

      Prime Downtown Hilo Commercial Property

      Exceptional commercial opportunity in the heart of downtown Hilo.
      144 KAMEHAMEHA AVE, Hilo, HI 96720
      View Details

    FAQs

    What type of property is this?
    Gas station - High-visibility corner lot in central Hilo, near landmarks.
    Where is this gas station located?
    The property is located at 744 Kamehameha Avenue Hilo, HI.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: Prime commercial property in central Hilo location with high visibility and traffic.; Proximity to government offices, Hilo Farmers Market, banks, stores, restaurants, and Hilo Bayfront Beach Park.; Located in the center of Wailoa Park.
    (808) 990-8090
    We can help!
    Listing Contact
    Keith De La Cruz
    Real Estate License ID: RB-22301
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!