Pahoa Village Commercial
For Sale
Contact for pricing
15-2874 PAHOA VILLAGE RD 5, Pahoa, HI 96778
High-traffic commercial complex in Pahoa Village with multiple businesses.
Property Size4,832 SF
Price / SF$165.36
Days on Market965
Property Features for 15-2874 PAHOA VILLAGE RD 5
General Information
Standard status
Active
Size
4,832 SF
Property subtype
Industrial, Land
Listing Agency:
Coldwell Banker Island Properties
Listed By:
Gail Hand · License #HI
Source:
Crexi
Added: Dec 30, 2023
Changed: Aug 8
Last Checked: Aug 20 at 7:49PM
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 Coldwell Banker Island Properties
Investment Insights
Based on property information with market context.
Located in the historic village of Pahoa, next to Black Rock Cafe, this commercial complex features a high-traffic location. The leasable area under roof totals 4832 square feet and currently houses five businesses. Tenants include Sirius Coffee, Van Vietnamese Restaurant, a Hawaiian style ice cream shop, Kalo Bowls, Irie Hawaii-a Smoke & Vape Shop, Access Capabilities Counseling Center, and a Storage Unit. Current leases range from 1 to 3 years. The complex is being sold As-Is.
Key Highlights
- Prime location in central, high‑traffic Pahoa next to Black Rock Cafe.
- Established business complex with 5 existing businesses.
- Diverse tenant mix including food, retail, and service businesses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,559
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,251,180
$1.3M
Cap Rate 7%
$893,700
$893.7K
Cap Rate 9%
$695,100
$695.1K
Market Conditions
NOI Build-Up for 4,832 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.5K $18.72/SF
− Vacancy
−$1.1K −$0.22/SF
EGI
$89.4K $18.50/SF
− OpEx
−$26.8K −$5.55/SF
NOI
$62.6K $12.95/SF
Area
Hawaii County, HI
Vacancy
1.20%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,251,180
Cap Rate 7%
$893,700
Cap Rate 9%
$695,100
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,435 @ 7.0% cap · market cap 14.45%
Second Best
Retail
$1.49M
$1.30M – $1.74M
NOI $104,364 @ 7.0% cap · market cap 13.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96778, HI
14,687
Population
6,814
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
211.5 sq mi
ZIP Area
69
Density / Sq Mi
$34,863
Median Household Income
$29,821
Median Earnings
$1,321
Median Rent
$241,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - High-traffic commercial complex in Pahoa Village with multiple businesses.
Where is this shopping center located?
The property is located at 15-2874 PAHOA VILLAGE RD 5 Pahoa, HI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location in central, high‑traffic Pahoa next to Black Rock Cafe.; Established business complex with 5 existing businesses.; Diverse tenant mix including food, retail, and service businesses.
