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3036 Waialae Ave 2,800 SF 100% Leased Retail Building Honolulu, HI 96816 $8,950,000 ($3,196.43/SF) 4.83% Cap Rate

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Executive Summary

Prime Commercial Property Investment Opportunity Located in the Heart of Kaimuki | Near UH Manoa | Across from City Mill Kaimuki Presenting a rare opportunity to acquire a high-performing commercial asset in one of Honolulu’s most dynamic and desirable neighborhoods — Kaimuki. This offering consists of two adjacent lots (TMK: 1-2-8-028-037, MLS 202511158), which must be sold together, and the listing price is the combined price of the two lots. Property Highlights: 6 commercial units currently occupied by 5 restaurants and 1 hair salon. 100% leased and fully operational 20 on-site parking stalls — a rare amenity in this high-traffic area Current Cap Rate: 4.5% Zoning and location support strong long-term potential for rent growth and property value appreciation Ideally situated just minutes from the University of Hawai‘i at Manoa and directly across the street from City Mill Kaimuki, this property benefits from constant foot traffic, local demand, and excellent visibility.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,800 SF
Building Class
C
Year Built
1962
Price
$8,950,000
Price Per SF
$3,196.43
Cap Rate
4.83%
NOI
$432,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.22 AC
Zoning
B-2
Parking
5 Spaces (1.56 Spaces per 1,000 SF Leased)
Frontage
66’ on Waialae Ave

Amenities

  • Bus Line
  • Signage

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Cafe Tajmahal
  • Retailer
  • -
  • -
  • -
  • Rainbow Connection
  • Arts, Entertainment, and Recreation
  • -
  • -
  • -
  • Sabrina's Restaurant
  • Retailer
  • -
  • -
  • -
  • Stage Front Presentation Systems
  • Construction
  • -
  • -
  • -
  • Sushiman
  • Accommodation and Food Services
  • -
  • -
  • -
  • Waialae Barber & Hair Salon
  • Services
  • -
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease End
Cafe Tajmahal Retailer - - -
Rainbow Connection Arts, Entertainment, and Recreation - - -
Sabrina's Restaurant Retailer - - -
Stage Front Presentation Systems Construction - - -
Sushiman Accommodation and Food Services - - -
Waialae Barber & Hair Salon Services - - -
Walk Score®
Very Walkable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Times Supermarkets
L & L Hawaiian Barbecue
American Savings Bank
Foodland
Central Pacific Bank
Territorial Savings Bank
Zippy's
Safeway
Starbucks
Jazzercise

Property Taxes

Property Taxes

Parcel Number
1-2-8-028-037-0000
Land Assessment
$2,290,700
Improvements Assessment
$337,800
Total Assessment
$2,628,500
  • Listing ID: 37320268

  • Date on Market: 8/18/2025

  • Last Updated:

  • Address: 3036 Waialae Ave, Honolulu, HI 96816

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