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Property profile & analytics
OFF-MARKET
Estimated value
$1,315,000
Warehouses
1062 Mikole St, Honolulu, HI 96819-4318
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US24-0069162
Property summary
AI-generated overview
This exceptional Class A warehouse, built in 2024, offers 4,158 square feet of space on a 10,521 square foot lot in Honolulu's Sand Island Industrial Park. The property features two 14-foot roll-up doors, ceiling heights ranging from 19 to 25 feet, and two restrooms. Its design allows for flexible use: occupy the entire space or easily divide it for owner-occupancy and leasing opportunities, offsetting costs. The secure site includes a gated entry, open parking, and a yard area. Located conveniently near Daniel K. Inouye International Airport and harbor depots, this property provides easy container transport access. The building boasts brand new water and electrical utilities and has never been occupied. This is a rare opportunity in Honolulu's tight industrial market, characterized by low vacancy rates and limited new construction. The property is zoned I-2 and the APN is 1-5-4-41:301. The asking price is $1,350,000, resulting in a price per square foot of $324.68. The ownership is leasehold.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2023
Total area
4,150 SF
Lot
0.24 ac (10,521 SF)
Zoning code
I-3 INDUSTRIAL-WATERFRONT
APN
1-1-5-041-301
UPID
US24-0069162
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.32M
Owner & transaction history
Dean S H Pak Incorporated · 1 yrs held
Dean S H Pak Incorporated
since 2025
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
I-3 INDUSTRIAL-WATERFRONT · Honolulu, HI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+47.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Honolulu submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Honolulu submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,100,000
6.5%
$1,015,000
7%
$945,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,150,000
Current use
COMMERCIAL (GENERAL)
$1,690,000
Change: +47% · Conversion: Difficult
Blend value · Realmo final
$1.32M
Range $1.18M – $1.45M · ±10% · vs last sale $1.30M (Jan 27 2025)
Last sale anchor
$1.30M
Jan 27 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$317 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,522
Tax year 2023
Assessed value
$2,342,500
Assessed 2024
Previous assessed
$2,342,500
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$2,021,500
Assessed improvement
$321,000
Land market value
$2,021,500
Improvement market value
$321,000
Total market value
$2,342,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2023
Heating
NONE
Stories
1
Bathrooms
13
Total area
4,150 SF
Lot
0.24 ac (10,521 SF)
Zoning code
I-3 INDUSTRIAL-WATERFRONT
APN
1-1-5-041-301
UPID
US24-0069162
Jurisdiction
HONOLULU
Zoning & alternative use
I-3 INDUSTRIAL-WATERFRONT · Honolulu, HI
Zoning I-3 INDUSTRIAL-WATERFRONT · permitted uses
I-3 INDUSTRIAL-WATERFRONT · Honolulu, HI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Honolulu. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.7M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2023
Heating
NONE
Stories
1
Bathrooms
13
Lot
0.24 ac
Current owner
From public records · entity-resolved
Dean S H Pak Incorporated
Individual
Mailing address
HONOLULU, HI 96819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
$1,300,000
Dean S H Pak Incorporated
Sand Island Business Assn
Deed
$910,000 · First Hawaiian Bank
May 1, 2007
$246,708
Hast Properties LLC
Sand Island Business Assn
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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