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Address
Price
Size
SOLD: Harbor Arms
98-130 Lipoa Pl
Aiea, HI
Lot Size:0.38Acres
The Harbor Arms Hotel (“Property”) presents a unique opportunity for an investor/developer to purchase a rare 30-unit hotel located in the densely populated area of Aiea on the island of Oahu. The Property is one of two hotel properties located in the trade area, which is centrally located and adjacent to Pearlridge Shopping Center and a soon to be completed rail station.
The property offers an investor/developer the rare, fee simple opportunity to own an exceptional piece of real estate which is subject to potential development incentives under the interim TOD zoning ordinance.
Harbor Arms Hotel consists of 30 rooms and sits on 19,614 square foot A1 (Apartment) zoned land with a gross building area of 16,632 square feet. The three-story building also includes a pool, BBQ area and coin operated laundry facility.
TOD DISTRICT: Located near the Aiea station of the Honolulu Rail Transit system and subject to potential development incentives under the interim TOD zoning ordinance.
BRAND AFFILIATION: The hotel is unencumbered by a hotel brand. Opportunity to leverage a new brand or reservation system to generate more revenue.
MARKET SUPPLY: One of two hotels in the trade area. The lack of supply coupled with the high barriers to entry provides a unique market share for an investor.
NON-UNION: The hotel is not part of a union agreement and is currently staffed with non-union labor.
FLEXIBLE USE: The property also can be converted to an apartment use due to the underlying A-1 zoning.
Sale:
$10,500,000
$10,500,000
0.38Acres
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Market Stats
Aiea has 74 commercial real estate spaces for lease, representing 412,332 sqft space.
16 buildings are available for sale.
In the past 30 days, Aiea has had 10 spaces leased.
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