Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    82-6151 Mamalahoa Hwy Captain Cook, HI 96704

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    82-6151 Mamalahoa Hwy Captain Cook, HI 96704

    View on Map
    • Commercial real estate
    • 14,310 SF
    • 2.00 lot acres
    For Sale
    $5,750,000
    View Listing →
    Historic Boutique Hotel Opportunity For Sale
    $5,750,000

    Historic Boutique Hotel Opportunity

    Historic 64-room boutique hotel with value-add potential in Captain Cook.

    82-6151 Mamalahoa Hwy, Captain Cook, HI 96704
    View Listing
    Property ID
    US24-0083491
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Live Life Well Medicine - Margaret Dexter Waldbauer, ND / Medical Clinic
    • Dr. Dexter's Phyto Formulary / (Bike/Boat/Book/etc) Store / Specialty Food Shop

    Property Details for 82-6151 Mamalahoa Hwy

    Year built
    1925
    Construction
    WOOD
    Lot size
    2.00 lot acres
    Property size
    14,310 SF
    Zone code
    3M
    Property type
    Commercial real estate
    APN
    3-8-2-015-019
    APU
    382015019

    Description

    This exceptional 64-key boutique hotel, situated on a 104,343 sq ft lot in Captain Cook, Hawaii, presents a compelling value-add investment opportunity. The property, comprised of four buildings constructed in 1917 and 1963, boasts a rich history as Hawaii's oldest restaurant, a James Beard Award-winning establishment, and offers breathtaking ocean views. Currently operating with 64 rooms, the hotel features significant untapped potential for revenue growth. Underutilized spaces offer opportunities for conversion into additional guest rooms, amenities (such as a pool or lawn), or enhanced food and beverage offerings, including a potential 1920s-themed speakeasy. The property's below-market room and commercial rents provide immediate upside potential. The sale includes all furniture, fixtures, and equipment (FF&E), licenses, website, and trade name. The permitted zoning is CV-10, CN-7.5, and the property's Pro-Forma NOI is $987,712, yielding a 15.20% Pro-Forma Cap Rate. This offering represents a unique chance to acquire a piece of Hawaii's history and establish it as a premier boutique hotel. The address is 82-6151 Mamalahoa Hwy, Captain Cook, HI 96704, APN: 3-8-2-15-19, 3-8-2-15-22. The asking price is $6,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,727,000
      Market price range: $1.49M - $5.33M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Captain Cook
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.911
    Latitude
    19.4889
    CBSA code
    25900
    CBSA name
    HILO, HI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,701
    $618,600
    $1,260,300
    $1,878,900
    -
    $618,600
    $1,260,300
    $1,878,900

    Comparable in this City

    • Value Estimation by Request
      3,876 SF

      82-5877 Mamalahoa Hwy

      COMMERCIAL (GENERAL) • 3,876 SF
      82-5877 Mamalahoa Hwy, Captain Cook, HI 96704-8200
      View Details
    • Value Estimation by Request
      312 SF

      92-2318 Palm Pkwy

      COMMERCIAL (GENERAL) • 312 SF
      92-2318 Palm Pkwy, Captain Cook, HI 96704
      View Details
    • Value Estimation by Request
      1,722 SF

      83-5443 Mamalahoa Hwy

      COMMERCIAL (GENERAL) • 1,722 SF
      83-5443 Mamalahoa Hwy, Captain Cook, HI 96704-8303
      View Details
    • Value Estimation
      $775,000
      3,416 SF

      82-5931 Napoopoo Rd

      COMMERCIAL (GENERAL) • 3,416 SF
      82-5931 Napoopoo Rd, Captain Cook, HI 96704-8274
      View Details
    • Value Estimation by Request
      171 SF

      88-1750 Mamalahoa Hwy

      COMMERCIAL (GENERAL) • 171 SF
      88-1750 Mamalahoa Hwy, Captain Cook, HI 96704-8819
      View Details
    • Value Estimation by Request
      3,360 SF

      92-1329 Prince Kuhio Blvd

      COMMERCIAL (GENERAL) • 3,360 SF
      92-1329 Prince Kuhio Blvd, Captain Cook, HI 96704-9214
      View Details

    Similar Nearby for Sale

    • $575,000
      5.49 Acres

      Land in Gated Community

      5-acre lot near iconic ocean destinations in Captain Cook, HI.
      85-5195 Kiilae Rd, Captain Cook, HI 96704
      View Details
    • $1,489,000
      71.91 Acres

      Oceanfront Acreage in Captain Cook

      71.91 acres of oceanfront land with surf and sunset views.
      Mamalahoa Hwy, Captain Cook, HI 96704
      View Details
    • $269,000
      0.18 Acres

      Oceanfront Parcel on Kai Avenue

      Rare oceanfront parcel with sweeping ocean views and vacation rental potential.
      Kai Ave, Captain Cook, HI 96704
      View Details
    • Contact for pricing

      Affordable Ocean View Acreage

      One-acre lot with ocean views, ideal for off-grid living.
      92-2220 Palm Pkwy, Ocean View, HI 96704
      View Details
    • $188,800
      1.36 Acres

      Land in Desirable Rural Community

      1.36 acre parcel ideal for dream home or retreat.
      89-806 Hua Nui Rd, Captain Cook, HI 96704
      View Details
    • $99,000
      0.17 Acres

      Ocean View Land, Captain Cook

      Land with unblockable ocean views in Captain Cook, Hawaii.
      Rd E, Captain Cook, HI 96704
      View Details
    View Listing
    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.
    82-6151 Mamalahoa Hwy
    Captain Cook, HI 96704
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!