Kailua Kona Medical Office
75-137 Hualalai Road, Kailua Kona, HI 96740
For Sale
$2,700,000
Prime commercial opportunity in the heart of Kailua Kona.
Property Size2,700 SF
Lot Size0.76 Acres
Price / SF$500
Days on Market255
Property Features for 75-137 Hualalai Road
General Information
Standard status
Size
Class
Lot size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
GO COMMERCIAL, LLC
Listed By:
Gregory Ogin · License HI RB-16053
(808) 987-6446
Source:
Svn
Added: Mar 6
Changed: Nov 9
Last Checked: Nov 14 at 2:10AM
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
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Investment Insights
Based on property information with market context.
This strategically located office building in Hawaii County, HI, offers an exceptional investment opportunity. The property features 5,400 SF of space and is currently 100% occupied as a medical office. This presents a compelling opportunity for an office building owner-user or investor, as the current medical operation transitions to retirement. Constructed in 1956 and renovated in 1976, the two-story building sits on 33,118 square feet of fee simple land and is zoned V-.75, providing a flexible framework for various business ventures. The property is centrally located in the heart of Kailua Kona on Hualalai Road, across from the Kona Public Library. It benefits from high visibility and vehicle and foot traffic. The location is adjacent to Alii Drive and close to the ocean, restaurants, retailers, and professional businesses. Onsite, gated private parking is available for employees and customers, with the ability to create numerous parking stalls.
Key Highlights
- 100% Occupancy as a Medical Office: Provides immediate income.
- Prime Kailua Kona Location: Centrally located with high visibility.
- Large Fee Simple Land Parcel: 33,118 square feet offers potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,873
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,537,460
$1.5M
Cap Rate 7%
$1,098,186
$1.1M
Cap Rate 9%
$854,144
$854.1K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$119.9K $22.20/SF
− Vacancy
−$17.4K −$3.22/SF
EGI
$102.5K $18.98/SF
− OpEx
−$25.6K −$4.75/SF
NOI
$76.9K $14.24/SF
Area
Hawaii County, HI
Vacancy
14.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,537,460
Cap Rate 7%
$1,098,186
Cap Rate 9%
$854,144
Alternative Uses
Best Use
Office B
$1.10M
$960.9K – $1.28M
NOI $76,873 @ 7.0% cap · market cap 2.85%
Second Best
Healthcare Medical
$1.07M
$933.9K – $1.25M
NOI $74,708 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $129,004 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Prime commercial opportunity in the heart of Kailua Kona.
Where is this medical office space located?
The property is located at 75-137 Hualalai Road Kailua Kona, HI.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 100% Occupancy as a Medical Office: Provides immediate income.; Prime Kailua Kona Location: Centrally located with high visibility.; Large Fee Simple Land Parcel: 33,118 square feet offers potential.
