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    1521 King St Honolulu, HI 96826
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    Property profile & analytics

    1521 King St Honolulu, HI 96826

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    • Office Spaces
    • 12,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Accentuate Salon / Hair Salon / Nail Salon
    • Alana Natural Therapy / Alternative Medicine Practice / Spa & Massage Center
    • Balance Point Health Center / Alternative Medicine Practice / Spa & Massage Center
    • Ragsac Mark S DDS / Dental Office
    • Beauty Sketch / Medical Clinic / Skin Care Clinic

    Property Details for 1521 King St

    Property size
    12,000 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    The Continental Building, located at 1521 South King Street in Honolulu, Hawaii 96826, offers exceptional medical office space for lease. This multi-tenant building boasts a total of 12,000 square feet, with 2,390 square feet currently vacant and available for immediate occupancy. Units range from a minimum of 480 square feet to a maximum contiguous space of 1,210 square feet, providing flexibility for various practice sizes. Each suite includes a private bathroom. The building features convenient elevator access. Ample free customer parking is available, ensuring easy access for patients and clients. Secure tenant parking is also provided at a rate of $68 per stall per month. This prime location sits on a highly visible corner of King Street and Kalakaua Avenue, offering excellent exposure and accessibility. The property's APN is (1) 2-3-19-1 (portion of) and is situated in Honolulu County. This presents a fantastic opportunity for small businesses seeking a well-appointed and conveniently located medical office space in a thriving Honolulu neighborhood. The building is classified as a medical office building with commercial subtype.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.837
    Latitude
    21.2971

    Comparable in this City

    • Value Estimation
      $4,055,000
      27,360 SF

      2525 King St

      MEDICAL BUILDING • 27,360 SF
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    • Value Estimation by Request
      8,360 SF

      2239 King St

      Office Spaces • 8,360 SF
      2239 King St, Honolulu, HI 96826
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    • Value Estimation by Request
      6,000 SF

      1914 King St

      Office Units • 6,000 SF
      1914 King St, Honolulu, HI 96826
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    • Value Estimation by Request
      6,859 SF

      1806 King St

      Individual retail properties • 6,859 SF
      1806 King St, Honolulu, HI 96826
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    • Value Estimation
      $2,280,000
      9,438 SF

      1521 Kalakaua Ave

      OFFICE BUILDING • 9,438 SF
      1521 Kalakaua Ave, Honolulu, HI 96826-2409
      View Details
    • Value Estimation
      $3,100,000
      18,687 SF

      1401 Kalakaua Ave

      OFFICE BUILDING • 18,687 SF
      1401 Kalakaua Ave, Honolulu, HI 96826-1911
      View Details

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    Honolulu, HI 96826
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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
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