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    98-1238 Kaʻahumanu St Pearl City, HI 96782

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    For Lease
    Contact for pricing

    Pearl City medical office space available

    Lot size:
    30,686 SF

    Property Features for 98-1238 Kaʻahumanu St

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,686 SF
    Total Rate
    50631.9

    Building Details

    Year Built
    1978
    Buildings
    1
    Stories
    4

    Spaces For Lease

    at 98-1238 Kaʻahumanu St, Pearl City, HI 96782 Contact us
    Unit 400

    $42 /Mo

    Size
    1,770 SF
    Contact us
    Unit 405

    $21 /Mo

    Size
    480 SF
    Contact us
    Unit 102

    $42 /Mo

    Size
    953 SF
    Contact us

    We can help!

    Listing Contact
    Nora Bland
    Nora Bland

    Listing Agency: Sofos Realty Corporation Listing Agent: Nora Bland

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

    Learn more

    Property Insight Report

    Overview

    This four-story, 30,686 square foot medical office building, located at 98-1238 Kaahumanu St, Pearl City, HI 96782, offers excellent visibility and a prime location near shops and restaurants. Built in 1978, the property features one building with 40 parking spaces, elevators, and ample power. Currently, there are three available spaces ranging from 480 to 1,770 square feet, ideal for medical or professional tenants. Suite 102 offers open space suitable for office and retail use. Suite 400 includes private rooms and a kitchenette. Suite 405 will be available August 1st. The building boasts a mix of medical and professional tenants, with medical use preferred, and office use preferred for ground floor spaces. Common area maintenance (CAM) is approximately $2.36 per square foot and includes electricity. The building's air conditioning operates Monday through Saturday from 6:00 AM to 6:30 PM, and Sunday from 6:00 AM to 2:30 PM. The property's APN is 1-9-8-8-33. This is a multi-tenant building situated in the Pearl City submarket.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Map

    City
    Pearl City
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.95379376158
    Latitude
    21.388313981588

    Nearby Similar for Lease

    • $24 SF/Yr
      47,349 SF

      98-1254 Kaahumanu St

      Lifestyle centers • 47,349 SF
      98-1254 Kaahumanu St, Pearl City, HI 96782
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Pearl City medical office space available
    Where is this medical office space located?
    The property is located at 98-1238 Kaʻahumanu St Pearl City, HI.
    What is the lease rate?
    The lease rate is $21-$42 SF/Yr.
    What are key features of this property?
    This property features: Newly renovated office space.; Open floor plan available.; Excellent street frontage.
    (808) 522-5967 Call to check price and availability
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    98-1238 Kaʻahumanu St Pearl City, HI 96782
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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
    98-1238 Kaʻahumanu St Pearl City, HI 96782
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nora Bland
    Nora Bland
    Real Estate License ID: RS-65997
    (808) 522-5967 (808) 780-6678
    Learn more
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