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    95-1249 Meheula Pkwy Mililani, HI 96789

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    For Lease
    Contact for pricing

    Prime Mililani office space available.

    Lot size:
    450,000 SF

    Property Features for 95-1249 Meheula Pkwy

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    450,000 SF

    Spaces For Lease

    at 95-1249 Meheula Pkwy, Mililani, HI 96789 Contact us

    We can help!

    Listing Contact
    Nathan Fong
    Nathan Fong

    Listing Agency: Colliers - Honolulu, Hawaii Listing Agent: Nathan Fong

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

    Learn more

    Property Insight Report

    Overview

    Located in the heart of Mililani, Town Center of Mililani offers exceptional executive office suites within a thriving retail center. This premier location boasts 450,000 square feet of total building space, with 9,600 square feet currently vacant and divisible into units ranging from 780 to 2,725 contiguous square feet. The property is zoned B-2 (Community Business District) in Honolulu County, providing ample opportunity for a variety of businesses. The center itself is a vibrant hub of activity, featuring a diverse range of amenities including restaurants, entertainment venues (such as a 14-plex movie theater), and major retailers like Times Supermarket, Longs Drugs, PetSmart, Walmart, and City Mill. Its central location serves the Mililani community, including nearby Schofield Barracks and North Shore residents. The recently remodeled outdoor center court provides a welcoming atmosphere for both residents and visitors. This is an unparalleled opportunity to establish a presence in one of Hawaii's most desirable communities. The address is 95-1249 Meheula Parkway, Mililani, HI 96789. Multiple tenancy options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jeans Warehouse Clothing & Fashion Store HIC Hawaiian Island ... (Bike/Boat/Book/etc) Store AT&T Store Mobile Phone Store Fun Factory - Town ... Arcade & Gaming Center Diagnostic Laboratory Services, ... Medical Laboratory

    Map

    City
    Mililani
    County
    Honolulu
    State
    Hawaii
    Longitude
    -158.0059818
    Latitude
    21.4535118

    Nearby Similar for Lease

    • Contact for pricing
      129,731 SF

      Mililani Shopping Center Opportunity

      Prime Retail & Office Space in Mililani, HI
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    • Contact for pricing
      82,931 SF

      94-780 Meheula Pkwy

      Lifestyle centers • 82,931 SF
      94-780 Meheula Pkwy, Mililani, HI 96789
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    FAQs

    What type of property is this?
    Office Property / Space - Prime Mililani office space available.
    Where is this office property / space located?
    The property is located at 95-1249 Meheula Pkwy Mililani, HI.
    What are key features of this property?
    This property features: 450,000 square foot regional shopping center.; Walmart, Times Supermarket, Longs Drugs, PetSmart, and Consolidated Theatres anchor tenants.; Over 90 tenants including restaurants, local shops, a 14-screen theater, and healthcare/professional services.
    (808) 524-2666 Call to check price and availability
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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
    95-1249 Meheula Pkwy Mililani, HI 96789
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nathan Fong
    Nathan Fong
    Real Estate License ID: RB-18123
    (808) 524-2666 (808) 295-2582
    Learn more
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