Multi-Building Flex
For Sale
$6,195,000
913 KANOELEHUA AVE, Hilo, HI 96720
Fee-simple commercial property combines warehouse, office, retail, and industrial occupancy across three buildings.
Property Size28,936 SF
Lot Size1.38 Acres
Price / SF$194.59
Days on Market75
Property Features for 913 KANOELEHUA AVE
General Information
Standard status
Active
Size
28,936 SF
Lot size
1.38 Acres
Property subtype
Industrial
Additional Details
Road Access
Yes
Mezzanine
2,200 SF
Taxes and HOA fees
Annual Taxes
$17,010
Building Details
Building Size
28,936 SF
Year Built
1951
Buildings
3
Tenancy
Multi
Listing Agency:
Yamanaka Enterprises Inc
Listed By:
Vern M. Yamanaka
(808) 938-5213
Source:
Deepbluehi
Added: Aug 3
Changed: Oct 9
Last Checked: Oct 16 at 5:44AM
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 Yamanaka Enterprises Inc
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Investment Insights
Based on property information with market context.
This fee-simple flex property includes three buildings totaling 31,836 sq. ft. under roof across two contiguous Tax Maps. The improvements include a 14,000+ sq. ft. steel-frame warehouse with multiple retail and industrial tenants, along with a 2,200 sq. ft. mezzanine and office area. A separate 12,000 sq. ft. corner warehouse adds storage and warehousing capacity, while the 3,236 sq. ft. office building is occupied by a radio station.
The property occupies 1.38 acres at the corner of Kanoelehua Ave and Pohaku St. in Hilo, HI. It is positioned one block north of the Prince Kuhio Shopping Center and the Walmart Center, placing the site within an established retail and industrial area. The buildings date to 1951.
The property occupies 1.38 acres at the corner of Kanoelehua Ave and Pohaku St. in Hilo, HI. It is positioned one block north of the Prince Kuhio Shopping Center and the Walmart Center, placing the site within an established retail and industrial area. The buildings date to 1951.
Key Highlights
- Fee‑simple ownership across two contiguous Tax Maps
- Three buildings with 31,836 sq. ft. under roof on 1.38 acres
- 14,000+ sq. ft. steel‑frame warehouse with 2,200 sq. ft. mezzanine/office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$500,496
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,009,920
$10.0M
Cap Rate 7%
$7,149,943
$7.1M
Cap Rate 9%
$5,561,067
$5.6M
Market Conditions
NOI Build-Up for 31,836 SF
Gross rent
$596.0K $18.72/SF
− Vacancy
−$7.2K −$0.22/SF
EGI
$588.8K $18.50/SF
− OpEx
−$88.3K −$2.77/SF
NOI
$500.5K $15.72/SF
Area
Hawaii County, HI
Vacancy
1.20%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,009,920
Cap Rate 7%
$7,149,943
Cap Rate 9%
$5,561,067
Alternative Uses
Best Use
Warehouse
$7.15M
$6.26M – $8.34M
NOI $500,496 @ 7.0% cap · market cap 8.08%
Second Best
Office B
$6.47M
$5.67M – $7.55M
NOI $453,209 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$10.86M
$9.51M – $12.68M
NOI $760,549 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Flex space - Fee-simple commercial property combines warehouse, office, retail, and industrial occupancy across three buildings.
Where is this flex space located?
The property is located at 913 KANOELEHUA AVE Hilo, HI.
What is the asking price?
The asking price for this property is $6,195,000.
What are key features of this property?
This property features: Fee‑simple ownership across two contiguous Tax Maps; Three buildings with 31,836 sq. ft. under roof on 1.38 acres; 14,000+ sq. ft. steel‑frame warehouse with 2,200 sq. ft. mezzanine/office area
