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

    94-307 Farrington Hwy Waipahu, HI 96797

    • Commercial real estate
    • 17,777 SF
    • 1.37 lot acres
    For Lease
    View listing
    $45 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US24-0066607
    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.

    Current Use by Public Records

    • Clinical Labs of Hawaii / Medical Laboratory
    • Tokunaga Joji Modest DDS / Dental Office
    • Level Up Massage LLC / Alternative Medicine Practice / Spa & Massage Center
    • Aina Grill / Restaurant
    • Dance Appeal Studio / Training Center

    Property Details for 94-307 Farrington Hwy

    Year built
    1987
    Construction
    WOOD
    Lot size
    1.37 lot acres
    Property size
    17,777 SF
    Zone code
    BMX-3
    Property type
    Commercial real estate
    APN
    1-9-4-049-020
    APU
    194049020

    Description

    This exceptional commercial property at 94-307 Farrington Hwy, Waipahu, HI offers 28,737 square feet of flexible space ideal for a variety of uses, including traditional office, medical office, flex space, warehouse, or R&D. The property features two buildings, each one story, with a total of 59 parking spaces. The lot size is 59,544 square feet, zoned B-2. Currently, 813 square feet is vacant, with a minimum divisible space of 813 square feet and a maximum contiguous space of 1,500 square feet. The building, classified as Class B, underwent renovations in 2016, boasting a 15-foot ceiling height. Previously used as a church, the adaptable layout includes three rooms, a reception area, and two bathrooms. Its prime Farrington Highway location ensures high visibility and accessibility, making it perfect for businesses seeking excellent exposure. The property's multiple suites offer a range of options for businesses of various sizes. This is a rare opportunity to secure a well-located, versatile commercial space in a thriving area. Don't miss out on this chance to establish your business in a highly visible and convenient location. The property's unique history and adaptable design make it a truly unique opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waipahu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -158.018
    Latitude
    21.3801
    CBSA code
    46520
    CBSA name
    URBAN HONOLULU, HI METROPOLITAN 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
    $67,532
    $4,469,200
    $1,232,600
    $5,701,800
    -
    $4,469,200
    $1,232,600
    $5,701,800

    Comparable in this City

    • Value Estimation
      $1,570,000
      7,200 SF

      94-81 Farrington Hwy

      COMMERCIAL (GENERAL) • 7,200 SF
      94-81 Farrington Hwy, Waipahu, HI 96797-2201
      View Details
    • Value Estimation
      $3,750,000
      27,858 SF

      94-766 Farrington Hwy

      COMMERCIAL (GENERAL) • 27,858 SF
      94-766 Farrington Hwy, Waipahu, HI 96797-3348
      View Details
    • Value Estimation
      $13,300,000
      46,418 SF

      91590 Farrington Hwy

      COMMERCIAL (GENERAL) • 46,418 SF
      91590 Farrington Hwy, Waipahu, HI 96797
      View Details
    • Value Estimation
      $985,000
      6,979 SF

      94-668 Farrington Hwy

      COMMERCIAL (GENERAL) • 6,979 SF
      94-668 Farrington Hwy, Waipahu, HI 96797-3014
      View Details
    • Value Estimation
      $1,895,000
      10,428 SF

      94-60 Farrington Hwy

      COMMERCIAL (GENERAL) • 10,428 SF
      94-60 Farrington Hwy, Waipahu, HI 96797-1839
      View Details
    • Value Estimation by Request
      3,062 SF

      94-1015 Ka Uka Blvd

      COMMERCIAL (GENERAL) • 3,062 SF
      94-1015 Ka Uka Blvd, Waipahu, HI 96797-4202
      View Details

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    Similar Nearby for Lease

    • $45 SF/Yr
      28,737 SF

      Waipahu Commercial Space For Lease

      Versatile Office/Retail Space Available
      94-307 Farrington Hwy, Waipahu, HI 96797
      View Details
    • $3 SF/Yr
      64,458 SF

      Retail Space in Kunia Area

      Retail space available in high-traffic shopping center in Kunia.
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    • Contact for pricing
      20,281 SF

      Waipahu Office Space for Lease

      Prime Waipahu location, flexible office suites.
      94-730 Farrington Hwy, Waipahu, HI 96797
      View Details
    • $1.25 SF/Yr
      10,766 SF

      Waipahu Depot Center Office Suites

      Prime Waipahu office space, multiple suites available.
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      View Details
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    Waipahu, HI 96797
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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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