Flex Space with Roll-Up
For Sale
$679,000
B310-300 Ohukai Rd, Kihei, HI 96753
Commercial condo combines customer-facing retail, private office space, warehouse area, and mezzanine storage in one adaptable layout.
Property Size1,332 SF
Price / SF$509.76
Days on Market176
Property Features for B310-300 Ohukai Rd
General Information
Standard status
Active
Size
1,332 SF
Taxes and HOA fees
Annual Taxes
$1,496
Listing Agency:
Hawaii Life (W)
(808) 280-2055
Listed By:
Tom Tezak RB-21167
(808) 280-2055
Source:
Exprealty
Added: Feb 26
Changed: Aug 20
Last Checked: Aug 20 at 10:43AM
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 Hawaii Life (W)
Investment Insights
Based on property information with market context.
This commercial condominium offers 1,332 square feet configured with a retail storefront, private office, warehouse area, and storage mezzanine. A 12-foot overhead roll-up door supports loading and access, while luxury vinyl plank flooring extends through the retail area, office, and mezzanine for a consistent finished presentation.
The property is located at B310-300 Ohukai Rd within Kihei Commercial Center in Kihei, Hawaii. The sale includes the real property only; the existing business is excluded and currently operates under a month-to-month lease. The combination of customer-facing space, back-of-house functionality, and additional storage accommodates a range of commercial operations.
The property is located at B310-300 Ohukai Rd within Kihei Commercial Center in Kihei, Hawaii. The sale includes the real property only; the existing business is excluded and currently operates under a month-to-month lease. The combination of customer-facing space, back-of-house functionality, and additional storage accommodates a range of commercial operations.
Key Highlights
- 1,332 SF commercial condo with retail, office, warehouse, and mezzanine areas
- 12‑foot overhead roll‑up door for loading and property access
- Luxury vinyl plank flooring in the retail area, office, and mezzanine
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
$31,821
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
4.69%
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%
$636,420
$636.4K
Cap Rate 7%
$454,586
$454.6K
Cap Rate 9%
$353,567
$353.6K
Market Conditions
NOI Build-Up for 1,332 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
$48.0K $36.00/SF
− Vacancy
−$2.5K −$1.87/SF
EGI
$45.5K $34.13/SF
− OpEx
−$13.6K −$10.24/SF
NOI
$31.8K $23.89/SF
Area
Maui County, HI
Vacancy
5.20%
Lease Rate
$36.00 /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%
$636,420
Cap Rate 7%
$454,586
Cap Rate 9%
$353,567
Alternative Uses
Best Use
Retail
$454.6K
$397.8K – $530.4K
NOI $31,821 @ 7.0% cap · market cap 4.69%
Second Best
Flex RnD
$302.3K
$264.6K – $352.7K
NOI $21,164 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$538.8K
$471.5K – $628.7K
NOI $37,719 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 96753, HI
27,611
Population
18,294
Households
1.5
Avg Household Size
47
Median Age
35%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
759
Density / Sq Mi
$87,948
Median Household Income
$44,157
Median Earnings
$2,076
Median Rent
$958,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo combines customer-facing retail, private office space, warehouse area, and mezzanine storage in one adaptable layout.
Where is this flex space located?
The property is located at B310-300 Ohukai Rd Kihei, HI.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1,332 SF commercial condo with retail, office, warehouse, and mezzanine areas; 12‑foot overhead roll‑up door for loading and property access; Luxury vinyl plank flooring in the retail area, office, and mezzanine
