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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Parking lots & garages
2444 Kalakaua Ave, Honolulu, HI 96815
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US24-0320523
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1976
Construction
CONCRETE
Total area
176,687 SF
Lot
0.23 ac (10,000 SF)
Zoning code
U/X6/20
APN
1-2-6-023-005
UPID
US24-0320523
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$700k
Owner & transaction history
Hr Waikiki I Ground Lessor LLC
Hr Waikiki I Ground Lessor LLC
since 2025
7 recorded transactions
Zoning & alternative use
U/X6/20 · Honolulu, HI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$990,000
Current use
Blend value · Realmo final
$700k
Range $630k – $770k · ±10%
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
$4 / 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
$530,829
Tax year 2023
Assessed value
$39,502,400
Assessed 2024
Previous assessed
$39,502,400
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$27,170,000
Assessed improvement
$12,332,400
Land market value
$27,170,000
Improvement market value
$12,332,400
Total market value
$39,502,400
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1976
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
14
Units
1
Bathrooms
12
Total area
176,687 SF
Lot
0.23 ac (10,000 SF)
Zoning code
U/X6/20
APN
1-2-6-023-005
UPID
US24-0320523
Jurisdiction
HONOLULU
Zoning & alternative use
U/X6/20 · Honolulu, HI
Zoning U/X6/20 · permitted uses
U/X6/20 · 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
PARKING LOT Current
Est. value
$990,000
PARKING LOT Current
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
1976
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
14
Units
1
Bathrooms
12
Lot
0.23 ac
Current owner
From public records · entity-resolved
Hr Waikiki I Ground Lessor LLC
Entity
Mailing address
2424 KALAKAUA AVE STE #905, HONOLULU, HI 96815-3233
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2025
$215,000
Hr Waikiki I Ground Lessor LLC
2424 Kalakaua Associates
Deed
$129,000,000 · Bank Of Hawaii
Sep 25, 2024
—
Maps Hotels And Resorts Hawaii 2 Ll
Maps Waikiki Hotel LLC
Lease
—
Sep 20, 2021
—
Maps Waikiki Hotel LLC
—
Deed
related
$450,000,000 · Deutsche Bank
Apr 16, 2018
—
2424 Kalakaua Associates
—
Deed
related
—
Apr 9, 2018
—
Wells Fargo Bk NA 2016-wiki Trust
2424 Kalakaua Associates
Grant Deed
related
—
Sep 16, 2016
—
Maps Waikiki Hotel LLC
Bre Waikiki Owner LLC
Grant Deed
$400,000,000 · Jp Morgan Chase Bk
Feb 21, 2012
$11,580
W2007 Wkh Owner LLC
Ck Nevada LLC
Grant Deed
—
May 14, 2009
—
Ck Nevada LLC
—
Deed Of Trust
related
$22,687,000 · First Hawaiian Bank
Feb 6, 2009
—
W2007 Wkh Owner LLC
—
Deed Of Trust
related
$277,500,000 · Sdi INC
Sep 15, 2008
—
W2007 Wkh Hotel Trust INC
W2007 Wkh Owner LLC
Quit Claim Deed
related
—
Jul 30, 2008
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Jul 14, 2008
—
Azabu Newco INC
Azabu Buildings Co Ltd
Quit Claim Deed
related
—
Nov 20, 2007
—
Azabu Buildings Co Ltd
—
Deed Of Trust
related
$600,000,000 · Azabu Trust (tr)
—
—
2424 Kalakaua Associates
—
Deed Of Trust
related
—
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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