Building Details

Year Built 1957

Buildings 1

Tenancy Multi

Listing Agency: HAWAII & PACIFIC COMMERCIAL PROPERTIES Show Phone

Listed By: GLENNON T GINGO

Source: Corcoran

Added: Sep 15 Changed: Nov 1 Last Checked: Nov 1 at 6:28AM

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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 HAWAII & PACIFIC COMMERCIAL PROPERTIES

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Investment Insights

Based on property information with market context.

The property is a retail-oriented storefront asset with four commercial rental units. All four units are currently occupied under lease agreements, creating a multi-suite commercial configuration within one building. On-site parking serves both the businesses and their customers.

The building fronts the main highway at 81-6629 Hawaii Belt Road in Kealakekua, Hawaii. Kona Community Hospital is 5 minutes away, adding a nearby healthcare destination to the surrounding context. Constructed in 1957, the property combines an established commercial building with active occupancy and customer parking.

Key Highlights

• 4 commercial rental units within one storefront property
• All units currently occupied under lease agreements
• Fronts the main highway at 81‑6629 Hawaii Belt Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,426

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,228,520 $1.2M

Cap Rate 7%

$877,514 $877.5K

Cap Rate 9%

$682,511 $682.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,844 SF

Gross rent

$93.9K $33.00/SF

− Vacancy

−$6.1K −$2.15/SF

EGI

$87.8K $30.86/SF

− OpEx

−$26.3K −$9.26/SF

NOI

$61.4K $21.60/SF

Area

Hawaii County, HI

Vacancy

6.50%

Lease Rate

$33.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,228,520

Cap Rate 7%

$877,514

Cap Rate 9%

$682,511

Alternative Uses

Best Use

Retail

$877.5K

$767.8K – $1.02M (±1% cap)

NOI $61,426 @ 7.0% cap · market cap 6.84%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$970.6K

$849.3K – $1.13M (±1% cap)

NOI $67,942 @ 7.0% cap · market cap 7.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Demographics for 96750, HI

3,806

Population

1,220

Households

3.1

Avg Household Size

47

Median Age

28%

College-Educated

89%

High-School Grad

19.8 sq mi

ZIP Area

192

Density / Sq Mi

$86,293

Median Household Income

$42,024

Median Earnings

$1,076

Median Rent

$613,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - Four commercial suites are leased and occupied, with parking available for tenants and customers.

Where is this storefront property located?

The property is located at 81-6629 HAWAII BELT RD Kealakekua, HI.

What is the asking price?

The asking price for this property is $898,000.

What are key features of this property?

This property features: 4 commercial rental units within one storefront property; All units currently occupied under lease agreements; Fronts the main highway at 81‑6629 Hawaii Belt Road