Hawaii Flex Space For Sale
6 results
Address
Asking Price
Kalihi Business Center Fee Simple For Sale 2130 N King Street
2130 N King St
Kalihi-Palama, Honolulu, HI
Lot Size:0.31Acres
The Kalihi Business Center is a highly visible property located in the heart of Kalihi on North King Street. The multi-tenant retail property is fee simple and is home to numerous longstanding local-serving retailers. The property is 100% leased with 9 tenants and has been well-maintained with capital improvements invested in recent years that will minimize immediate investment requirements.
This asset will well serve 1031 exchange buyers by offering a “going-in” cap rate of 5.2% with reduced risk due to the multi-tenant nature of the property, as well as offering value enhancement opportunities through:
Revising all leases to be NNN to maximize expense reimbursements, as several leases are modified gross.
Adjust below-market rents upon renewal.
Invest additional dollars to reposition property and further increase rents.
In addition to the stabilized nature of the asset, the property is well positioned for redevelopment, with highlights that include:
BMX zoning that could allow for residential and mixed-use.
Height limit of 200 ft height can allow for tower residential development.
Floor Area Ratio (FAR) of 2.5 could allow “by right” 62,500 square feet of building area. Allowed uses include retail, food & beverage, office, warehouse, apartments, residential condominiums.
Exceptional location with great visibility along N King Street
Estimated daily traffic count of 35,239 cars
Proven stability during COVID-19 with longstanding tenants that cater to the local community
Redevelopment potential
$5,980,000
423 Kamakee Street
423 Kamakee St
Ala Moana-Kakaako, Honolulu, HI
Lot Size:0.19Acres
$300,000
401 Hookahi Street
401 Hookahi St
Wailuku, HI
Building Size:8,771SF
$1,900,000
1932 Democrat Street
1932 Democrat St
Kalihi-Palama, Honolulu, HI
Lot Size:0.23Acres
$2,300,000
150 Kaulele Place
150 Kaulele Pl
Airport, Honolulu, HI
Lot Size:0.59Acres
$2,700,000
350 North School Street
350 N School St
Liliha-Kapalama, Honolulu, HI
Lot Size:0.16Acres
$1,200,000
Market Stats
Hawaii has 2,845 commercial real estate spaces for lease, representing 10,876,972 sqft space.
554 buildings are available for sale.
In the past 30 days, Hawaii has had 439 spaces leased.
