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Property profile & analytics
OFF-MARKET
Estimated value
$1,130,000
Office buildings
2841 Baldwin Ave Makawao, HI 96768-9642
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US24-0543625
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,245 SF
Lot
10.53 ac (458,556 SF)
Zoning code
AGR
APN
2-4-002-011
UPID
US24-0543625
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
Current use
Occupant on record · Public records
-
Hui No‘eau Visual Arts Center Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$945k
Blend (final)
Blend
$1.13M
Owner & transaction history
Hui Noeau · 21 yrs held
Hui Noeau
since 2005
5 recorded transactions
Zoning & alternative use
AGR · Makawao, HI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+10.3%
Commercial (general)
$1.5M
+8.8%
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 Makawao submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Makawao 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%
$1,145,000
6.5%
$1,060,000
7%
$985,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,415,000
Current use
RETAIL STORES
$1,565,000
Change: +10% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,540,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±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
$348 / 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
$300
Tax year 2023
Assessed value
$2,606,500
Assessed 2023
Previous assessed
$892,590
+192.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$824,300
Assessed improvement
$1,782,200
Land market value
$824,300
Improvement market value
$1,782,200
Total market value
$2,606,500
Applied tax rate
5.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
5
Stories
1
Units
1
Rooms
4
Bathrooms
1
Total area
3,245 SF
Lot
10.53 ac (458,556 SF)
Zoning code
AGR
APN
2-4-002-011
UPID
US24-0543625
Jurisdiction
MAUI
Zoning & alternative use
AGR · Makawao, HIZoning AGR · permitted uses
AGR · Makawao, HI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
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
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Buildings
5
Units
1
Rooms
4
Bathrooms
1
Lot
10.53 ac
Current owner
From public records · entity-resolved
Hui Noeau
Individual
Mailing address
2841 BALDWIN AVE, MAKAWAO, HI 96768-9642
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2005
$3,500,000
Hui Noeau
Maui Land & Pineapple Co INC
Warranty Deed
$856,000 · Maui Land & Pineapple Co INC
Dec 30, 1999
$175,000
Labovitz,geald M & Cynthia K
Faught,thomas H
Trustees Deed
$140,000 · First Hawaiian Bank
Dec 30, 1999
$77,700
Faught,thomas H
Maui Land & Pineapple Co INC
Trustees Deed
—
Dec 21, 1999
—
Maui County (hi)
Maui Land & Pineapple Co INC
Quit Claim Deed
related
—
Mar 6, 1992
—
Montessori Of Maui INC
Montessori Of Maui INC
Quit Claim Deed
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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