Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    68-1820 Waikoloa Rd Pepeekeo, HI 96728
    Back to Search
    Property profile & analytics

    68-1820 Waikoloa Rd, Pepeekeo, HI 96728

    View on Map
    • Lifestyle centers
    • 1,300,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 68-1820 Waikoloa Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Waikoloa Plaza, a thriving retail shopping center in Waikoloa Village on Hawaii's Big Island, presents an exceptional investment opportunity. This 130,269 square foot center sits on an expansive 18-acre parcel within a planned mixed-use development, offering a strategic location and strong growth potential. Currently, 17,719 square feet of retail space is available, divisible into units ranging from a minimum of 1,100 square feet to a maximum contiguous space of 4,500 square feet. Seven spaces are currently available for lease. The center boasts a diverse tenant mix, including national, regional, and local businesses offering retail, restaurants, and personal services. A key anchor tenant is Foodland, a subsidiary of the Sullivan Family of Companies. The property's prime location offers convenient access to a substantial customer base. Within a 20-minute drive of Kona International Airport, Waikoloa Plaza benefits from the high volume of tourism in the area, with 30,000 weekly rental car tourists and 11,000 hotel rooms, condos, and timeshares nearby. The Waikoloa Village Golf Club, an 18-hole course, is directly across from the center, further enhancing its visibility and accessibility. The development also includes 66 two-bedroom/one-bathroom apartment lofts, catering to the workforce and addressing the demand for affordable housing in the area. This contributes to a vibrant and growing community, ensuring a strong and stable customer base for the retail center. The total building size is 1,300,000 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pepeekeo
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.114
    Latitude
    19.8677

    Comparable in this City

    • Value Estimation
      $860,000
      3,948 SF

      28-1680 Old Mamalahoa Hwy

      COMMERCIAL (GENERAL)
      28-1680 Old Mamalahoa Hwy, Honomu, HI 96728-2002
      View Details
    • Value Estimation by Request
      0.35 Acres

      28-1668 Old Mamalahoa Hwy

      COMMERCIAL (GENERAL)
      28-1668 Old Mamalahoa Hwy, Honomu, HI 96728-2002
      View Details
    • Value Estimation by Request
      0.27 Acres

      28-179 Honomu Rd

      COMMERCIAL (GENERAL)
      28-179 Honomu Rd, Honomu, HI 96728
      View Details
    • Value Estimation
      $580,000
      6,614 SF

      28-1692 Old Mamalahoa Hwy

      COMMERCIAL (GENERAL)
      28-1692 Old Mamalahoa Hwy, Honomu, HI 96728-2002
      View Details
    • Value Estimation by Request
      1,624 SF

      28-171 Honomu Rd

      COMMERCIAL (GENERAL)
      28-171 Honomu Rd, Honomu, HI 96728-9997
      View Details
    • Value Estimation by Request
      2,304 SF

      28-1678 Old Mamalahoa Hwy

      COMMERCIAL (GENERAL)
      28-1678 Old Mamalahoa Hwy, Honomu, HI 96728-2002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    68-1820 Waikoloa Rd
    Pepeekeo, HI 96728
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    68-1820 Waikoloa Rd, Pepeekeo, HI, 96728
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!