Building Details

Year Built 1968

Buildings 1

Construction CMU

Listing Agency: UNITED COUNTRY REAL ESTATE-HAWAII LIFESTYLE PROPERTIES, LLC Show Phone

Listed By: TEENA GENGE · License #RB-23650 Show Phone

Source: Corcoran

Added: Oct 9 Changed: Oct 15 Last Checked: Oct 16 at 9:18AM

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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 UNITED COUNTRY REAL ESTATE-HAWAII LIFESTYLE PROPERTIES, LLC

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Investment Insights

Based on property information with market context.

Built in 1968, the restaurant property includes a 1,764-square-foot CMU building on approximately 19,247 square feet of land. A covered lanai of about 954 square feet extends along the front and sides. Inside, vaulted ceilings, exposed beams and natural light complement three connected spaces, plus a commercial kitchen area, storage and two restrooms. Food-service features include a hood with fire suppression, multiple sinks and propane hookups.

The site is directly on Highway 11 at the edge of Nāʻālehu. County water, 200-amp single-phase electrical service and a newer septic system serve the property; fiber-optic internet is available in the area. An open rear area and an existing easement provide access to the back of the property. CV – Village Commercial zoning includes restaurant, bar, retail, office, medical clinic and residential uses, subject to applicable requirements.

Key Highlights

• 1,764‑square‑foot CMU building on approximately 19,247 square feet of land
• Approximately 954 square feet of covered lanai along the front and sides
• Commercial kitchen area with hood and fire suppression, multiple sinks and propane hookups

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,141

Cap Rate

4.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$842,820 $842.8K

Cap Rate 7%

$602,014 $602.0K

Cap Rate 9%

$468,233 $468.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,764 SF

Gross rent

$59.3K $33.60/SF

− Vacancy

−$3.1K −$1.75/SF

EGI

$56.2K $31.85/SF

− OpEx

−$14.0K −$7.96/SF

NOI

$42.1K $23.89/SF

Area

Hawaii County, HI

Vacancy

5.20%

Lease Rate

$33.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$842,820

Cap Rate 7%

$602,014

Cap Rate 9%

$468,233

Alternative Uses

Best Use

Specialty Retail

$602.0K

$526.8K – $702.4K (±1% cap)

NOI $42,141 @ 7.0% cap · market cap 4.44%

Second Best

—

—

no second resolved use

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

All Fresh Hawai'i Restaurant Naalehu Farmers Market ... Specialty Food Shop

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Yes

Commercial hood

Location Intelligence

Demographics for 96772, HI

2,579

Population

1,289

Households

2

Avg Household Size

51

Median Age

25%

College-Educated

93%

High-School Grad

207.4 sq mi

ZIP Area

12

Density / Sq Mi

$61,250

Median Household Income

$35,100

Median Earnings

$1,509

Median Rent

$396,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - CV – Village Commercial zoning supports a range of uses, subject to applicable requirements.

Where is this conventional restaurant located?

The property is located at 95-5673 MAMALAHOA HIGHWAY Naalehu, HI.

What is the asking price?

The asking price for this property is $949,000.

What are key features of this property?

This property features: 1,764‑square‑foot CMU building on approximately 19,247 square feet of land; Approximately 954 square feet of covered lanai along the front and sides; Commercial kitchen area with hood and fire suppression, multiple sinks and propane hookups