Waianae Mixed-Use/Industrial
For Sale
Contact for pricing
87-166 Farrington Hwy, Waianae, HI 96792
Mixed-use and industrial property available in Waianae, Hawaii.
Property Size3,600 SF
Price / SF$472.22
Days on Market939
Property Features for 87-166 Farrington Hwy
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Industrial, Mixed Use
Zoning
B-1
Investment Type
Owner/User
Building Details
Year Built
1989
Listing Agency:
CUSHMAN & WAKEFIELD | ChaneyBrooks - Honolulu, Hawaii
Listed By:
Anthony Provenzano · License #HI RB-22101
(808) 387-3444
Source:
Crexi
Added: Feb 9, 2024
Changed: Aug 25
Last Checked: Sep 3 at 6:11AM
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 CUSHMAN & WAKEFIELD | ChaneyBrooks - Honolulu, Hawaii
Investment Insights
Based on property information with market context.
This mixed-use and industrial property is available for sale. The property offers a total size of 3,600 square feet and is located in Waianae, Hawaii.
Key Highlights
- Property website available: Access detailed information and visuals.
- Built in 1989: A well‑established property with potential for updates and customization.
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
$62,100
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
3.65%
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%
$1,242,000
$1.2M
Cap Rate 7%
$887,143
$887.1K
Cap Rate 9%
$690,000
$690.0K
Market Conditions
NOI Build-Up for 3,600 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
$108.0K $30.00/SF
− Vacancy
−$8.6K −$2.40/SF
EGI
$99.4K $27.60/SF
− OpEx
−$37.3K −$10.35/SF
NOI
$62.1K $17.25/SF
Area
Honolulu County, HI
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,242,000
Cap Rate 7%
$887,143
Cap Rate 9%
$690,000
Alternative Uses
Best Use
Mixed Use
$887.1K
$776.3K – $1.04M
NOI $62,100 @ 7.0% cap · market cap 3.65%
Second Best
Industrial
$674.8K
$590.5K – $787.3K
NOI $47,239 @ 7.0% cap · market cap 2.78%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,096 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96792, HI
51,965
Population
15,516
Households
3.3
Avg Household Size
35
Median Age
16%
College-Educated
91%
High-School Grad
61.1 sq mi
ZIP Area
850
Density / Sq Mi
$83,927
Median Household Income
$39,666
Median Earnings
$1,820
Median Rent
$551,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use and industrial property available in Waianae, Hawaii.
Where is this mixed-use property located?
The property is located at 87-166 Farrington Hwy Waianae, HI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Property website available: Access detailed information and visuals.; Built in 1989: A well‑established property with potential for updates and customization.
