Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    454 Waiakamilo Rd Honolulu, HI 96817-4941

    • Warehouses
    • 5,000 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US24-0237469
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 454 Waiakamilo Rd

    Year built
    1963
    Lot size
    0.19 lot acres
    Property size
    5,000 SF
    Zone code
    IMX-1 IND-COMM MIXED USE
    Property type
    Warehouses
    APN
    1-1-5-029-003
    APU
    115029003

    Description

    This exceptional 13,470 square foot standalone building at 454 Waiakamilo Road in Honolulu, Hawaii, presents a unique opportunity for businesses seeking flexible and high-visibility office space. Located in the heart of Kapalama Kai, this property offers a strategic position within Honolulu's bustling business district. The building is zoned IMX-1 and is currently entirely vacant, providing immediate occupancy for a new tenant. The space is configured to accommodate multiple tenants, with a minimum divisible space of 5,000 square feet and a maximum contiguous space of 8,470 square feet. This allows for significant flexibility in tailoring the space to meet specific business needs, whether it's a single large tenant or multiple smaller occupants. The property's classification as both retail and office allows for diverse usage options, enhancing its appeal to a wide range of businesses. Ample parking is available, a significant advantage in a busy urban environment. The property's high visibility ensures excellent exposure for businesses seeking to enhance their brand presence. Financial incentives are available for qualified tenants, making this an attractive proposition for businesses looking to establish or expand their operations in a prime Honolulu location. The property's address is 454 Waiakamilo Rd, Honolulu, HI 96817.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.877
    Latitude
    21.3232
    CBSA code
    46520
    CBSA name
    URBAN HONOLULU, HI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,282
    $2,011,600
    $277,600
    $2,289,200
    -
    $2,011,600
    $277,600
    $2,289,200

    Comparable in this City

    • Value Estimation by Request
      28,076 SF

      1111 Dillingham Blvd

      Refrigerated & Cold Storages • 28,076 SF
      1111 Dillingham Blvd, Honolulu, HI 96817
      View Details
    • Value Estimation by Request
      18,780 SF

      1299 Kaumualii St

      WAREHOUSE, STORAGE • 18,780 SF
      1299 Kaumualii St, Honolulu, HI 96817-4403
      View Details
    • Value Estimation by Request
      4,000 SF

      513 Kaaahi St

      WAREHOUSE, STORAGE • 4,000 SF
      513 Kaaahi St, Honolulu, HI 96817-4634
      View Details
    • Value Estimation by Request
      12,936 SF

      1409 Colburn St

      WAREHOUSE, STORAGE • 12,936 SF
      1409 Colburn St, Honolulu, HI 96817-4968
      View Details
    • Value Estimation by Request
      792 SF

      1591 Hau St

      WAREHOUSE, STORAGE • 792 SF
      1591 Hau St, Honolulu, HI 96817-4944
      View Details
    • Value Estimation by Request
      5,750 SF

      515 Kuwili St

      WAREHOUSE, STORAGE • 5,750 SF
      515 Kuwili St, Honolulu, HI 96817-5326
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,992 SF

      Nuuanu Square: Mixed-Use Honolulu Property

      Honolulu mixed-use investment opportunity.
      1365 Nuuanu Ave, Honolulu, HI 96817
      View Details
    • $2,988,000

      Renovated Multifamily Property in Honolulu

      Completely renovated 12-unit multifamily property with strong income potential.
      815 Lopez Ln, Honolulu, HI 96817
      View Details
    • $2,988,000

      Renovated Multifamily Property in Honolulu

      Completely renovated 12-unit multifamily property with high return potential.
      815 Lopez Ln, Honolulu, HI 96817
      View Details
    • $700,000

      Level Lot in Kapalama

      R-5 zoned lot presents a prime opportunity to build.
      1041 Kama Ln, Honolulu, HI 96817
      View Details
    • $1,350,000

      Nuuanu Valley Residential Land Opportunity

      Rare 15,636 sq ft lot in historic Honolulu neighborhood.
      3242 Pelekane Dr, Honolulu, HI 96817
      View Details
    • $425,000

      Honolulu Retail Store with License

      Well-known convenience store with liquor license on N. Hotel.
      68 N Hotel St, Honolulu, HI 96817
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      28,061 SF

      Honolulu Flex Space Available

      Versatile Honolulu warehouse/retail space.
      743 Waiakamilo Rd, Honolulu, HI 96817
      View Details
    • Contact for pricing
      66,980 SF

      Kapalama Kai Mixed-Use Property

      15 Suites, 66,980 SF, Flexible Spaces
      1320 Kalani St, Honolulu, HI 96817
      View Details
    • Contact for pricing
      30,169 SF

      Honolulu Warehouse Space Available

      Multiple warehouse suites, 1,440-4,000 sq ft
      720-740 Moowaa St, Honolulu, HI 96817
      View Details
    • $14 SF/Yr
      28,076 SF

      Kokea Center: Honolulu Warehouse Space

      Versatile Honolulu warehouse, retail & office
      1111 Dillingham Blvd, Honolulu, HI 96817
      View Details
    • $12 SF/Yr
      26,991 SF

      Iwilei Flex Space: Colburn Street

      Free-standing building & land, prime Iwilei location.
      1369 Colburn St, Honolulu, HI 96817
      View Details
    • $18 SF/Yr
      15,635 SF

      Industrial Land Lease: Kalihi, Oahu

      15,635 SF Industrial Land - Long-Term Lease
      1385 Colburn St, Honolulu, HI 96817
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    454 Waiakamilo Rd
    Honolulu, HI 96817-4941
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.