Mixed-Use Retail
For Sale
$595,000
846 Hotel Street, Honolulu, HI 96813
Fee simple units 101 and 103 are in excellent condition with central air, split A/C, and in-unit laundry.
Property Size1,168 SF
Price / SF$509.42
Days on Market286
Property Features for 846 Hotel Street
General Information
Standard status
Active
Size
1,168 SF
Total Parking Spaces
1
Property subtype
Mixed Use
Zoning
BMX-3
Taxes and HOA fees
Annual Taxes
$5,338
Amenities
air conditioning
private restroom
security alarm
water heater
washer and dryer
Central Air
3
Concrete
1 Parking Spaces.
16278.0
City Road.
Building Details
Year Built
1935
Listing Agency:
Asato Properties LLC
(808) 783-9048
Listed By:
Edson Loo
(808) 783-9048
Source:
Xome
Added: Oct 30, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:28AM
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 Asato Properties LLC
Investment Insights
Based on property information with market context.
Thomas Square Centre offers fee simple units 101 and 103. The space is currently used as a hair salon and presents in excellent condition, with central air conditioning and split A/C. The units include a dedicated restroom, a security alarm, a water heater, and a full washer and dryer, supporting day-to-day operations.
The property is located in Central Honolulu and is zoned BMX-3 Community Business Mixed Use. It includes one dedicated parking stall. As noted in the remarks, it may support business and long-term residential use, subject to buyer due diligence regarding intended use.
The offering includes two units within the same mixed-use center, currently configured for salon use with dedicated in-unit improvements and equipment for comfort and convenience.
The property is located in Central Honolulu and is zoned BMX-3 Community Business Mixed Use. It includes one dedicated parking stall. As noted in the remarks, it may support business and long-term residential use, subject to buyer due diligence regarding intended use.
The offering includes two units within the same mixed-use center, currently configured for salon use with dedicated in-unit improvements and equipment for comfort and convenience.
Key Highlights
- Fee simple units 101 and 103 in Central Honolulu
- Currently used as a hair salon; includes one dedicated parking stall
- Central air plus split A/C, with concrete flooring throughout
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
$30,916
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
5.20%
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%
$618,320
$618.3K
Cap Rate 7%
$441,657
$441.7K
Cap Rate 9%
$343,511
$343.5K
Market Conditions
NOI Build-Up for 1,168 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
$46.4K $39.72/SF
− Vacancy
−$2.2K −$1.91/SF
EGI
$44.2K $37.81/SF
− OpEx
−$13.2K −$11.34/SF
NOI
$30.9K $26.47/SF
Area
Honolulu County, HI
Vacancy
4.80%
Lease Rate
$39.72 /SF/Yr
Expense Ratio
30.00%
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%
$618,320
Cap Rate 7%
$441,657
Cap Rate 9%
$343,511
Alternative Uses
Best Use
Retail
$441.7K
$386.5K – $515.3K
NOI $30,916 @ 7.0% cap · market cap 5.20%
Second Best
Mixed Use
$287.8K
$251.9K – $335.8K
NOI $20,148 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$473.2K
$414.1K – $552.1K
NOI $33,125 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 Retail 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?
Mixed-use property - Fee simple units 101 and 103 are in excellent condition with central air, split A/C, and in-unit laundry.
Where is this mixed-use property located?
The property is located at 846 Hotel Street Honolulu, HI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fee simple units 101 and 103 in Central Honolulu; Currently used as a hair salon; includes one dedicated parking stall; Central air plus split A/C, with concrete flooring throughout
