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    1149 Bethel St Honolulu, HI 96813

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    For Lease
    Contact for pricing

    Downtown Honolulu Office & Retail, Move-In Ready

    Lot size:
    72,045 SF

    Property Features for 1149 Bethel St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    72,045 SF
    Class
    C
    Total Rate
    216135

    Building Details

    Year Built/Renovated
    1964/2015
    Buildings
    1
    Stories
    10

    Spaces For Lease

    at 1149 Bethel St, Honolulu, HI 96813 Contact us
    Unit 1153 Bethel Street

    $36 /Mo

    Size
    2,178 SF
    Contact us

    We can help!

    Listing Contact
    Nora Bland
    Nora Bland

    Listing Agency: Sofos Realty Corporation Listing Agent: Nora Bland

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Ohia Building, a 72,045 square foot, ten-story Class C office and retail building, presents a compelling investment opportunity in Honolulu's vibrant downtown. Built in 1964 and renovated in 2015, this multi-tenant property boasts 25 suites, with 6,000 square feet currently vacant. The maximum contiguous space available is 9,536 square feet, ideal for larger businesses seeking entire floor occupancy. The building features a 4.0 FAR, situated on a half-acre lot (0.5 acres) in Honolulu County, zoned B-2. Amenities include two electric elevators, 30 parking spaces, and a 10-foot ceiling height. Electric power is provided throughout. The property's prime location at 1149-1159 Bethel Street, at the corner of Bethel and Pauahi Streets, offers convenient access to government services and the central business district. Unit 1153 Bethel Street offers unique bar/retail/office space with an existing kitchen, plumbing, and restroom—no grease trap required. This versatile property caters to a range of businesses, from small startups to established enterprises, making it an attractive option for diverse commercial needs. The building's location in Honolulu's creative district adds to its appeal.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fujii Anthony Law Firm Liu Calvin Y ... Dental Office ClearlyM Marketing & Advertising Chung & Wong CPA's ... Tax Preparation Polygraph Hawaii Law Firm

    Map

    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.8605037
    Latitude
    21.3110204

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    FAQs

    What type of property is this?
    Medical office - Downtown Honolulu Office & Retail, Move-In Ready
    Where is this medical office located?
    The property is located at 1149 Bethel St Honolulu, HI.
    What is the lease rate?
    The lease rate is $0.00-$36 SF/Yr.
    What are key features of this property?
    This property features: 72,045 SF, 10-story Class C office/retail building in Honolulu's downtown.; Move-in ready space available; 6,000 SF currently vacant, with a maximum contiguous space of 9,536 SF.; Multiple suites available at value rates.
    (808) 522-5967 Call to check price and availability
    Request Owner's contact information
    1149 Bethel St Honolulu, HI 96813
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    Honolulu, HI 96813
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    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
    1149 Bethel St Honolulu, HI 96813
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nora Bland
    Nora Bland
    Real Estate License ID: RS-65997
    (808) 522-5967 (808) 780-6678
    Learn more
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