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    1120 Makawao Ave Makawao, HI 96768

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    For Lease
    Contact for pricing

    Newly renovated, high-traffic location.

    Lot size:
    5,900 SF

    Property Features for 1120 Makawao Ave

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,900 SF
    Total Rate
    14750

    Building Details

    Year Built
    1959
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 1120 Makawao Ave, Makawao, HI 96768 Contact us
    Unit Unit A

    $36 /Mo

    Size
    1,680 SF
    Contact us
    Unit Unit B

    $30 /Mo

    Size
    2,007 SF
    Contact us

    We can help!

    Listing Contact
    Scott J. Kenar
    Scott J. Kenar

    Listing Agency: Commercial Properties of Maui Listing Agent: Scott J. Kenar

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail opportunity presents two available spaces totaling 5,900 square feet within a single, newly renovated building situated on a 9,933 square foot lot at 1120 Makawao Ave, Makawao, HI 96768. The property, built in 1959, features a single-story structure with a BCT (Business/Country Town) zoning designation. The building boasts excellent visibility due to its location on a high-traffic street in the vibrant Makawao Town, known for its blend of local shops, art galleries, and restaurants. Each of the two available spaces offers a flexible open floor plan, ideal for various retail uses, with sizes ranging from 1,680 to 2,007 square feet. The property's APN is (2) 2-4-007-045. This is a rare chance to establish or expand a business in a thriving Maui community. The property's prime location and newly renovated condition make it an attractive investment for discerning retailers seeking a high-visibility presence in a desirable market. The open floor plans provide ample space for displays and inventory management, ensuring a comfortable and efficient retail operation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Krank Cycles (Bike/Boat/Book/etc) Store Big Brave YOU Life Coach Pueo Family Medicine Medical Clinic Beth Jarrett Physician Docs Physician

    Map

    City
    Makawao
    County
    Maui
    State
    Hawaii
    Longitude
    -156.3112961
    Latitude
    20.8527839

    Nearby Similar for Lease

    • Contact for pricing
      50,000 SF

      Hali'imaile Road Commercial Space

      Maui County multi-use spaces available
      870 Haliimaile Rd, Makawao, HI 96768
      View Details

    FAQs

    What type of property is this?
    Retail property - Newly renovated, high-traffic location.
    Where is this retail property located?
    The property is located at 1120 Makawao Ave Makawao, HI.
    What is the lease rate?
    The lease rate is $30-$36 SF/Yr.
    What are key features of this property?
    This property features: Two available retail spaces totaling 5,900 square feet in a newly renovated building.; Located on a high-traffic street in Makawao Town, Maui, with excellent visibility.; Each space offers a flexible open floor plan, ranging from 1,680 to 2,007 square feet.
    (808) 244-2200 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
    1120 Makawao Ave Makawao, HI 96768
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott J. Kenar
    Scott J. Kenar
    (808) 244-2200
    Learn more
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