413 Seaside Ave
Honolulu, HI 96815
Sold Price
$6,250,000 (FS)
List Price
$7,250,000 (FS)
- Property Type:
- Commercial/Industrial
- Bedrooms:
- --
- Full Baths:
- --
- Half Baths:
- --
- Land Area (sf):
- 5,309
- Living (sf):
- --
- Lanai (sf):
- --
- Other (sf):
- --
- Parking Stalls:
- -- - On Site
- MLS #:
- 202225358
- Island:
- Oahu
- Region:
- Metro Oahu
- Neighborhood:
- WAIKIKI
- TMK:
- 1-2-6-021-056-0000
- List Date:
- Date Sold:
REMARKS:
The Zigu Building is a beautiful historic two-story retail building with an art deco-Asian decorative design and features an exclusive courtyard. Formerly a part of the Cooper Apartments, the property was converted to a retail use several years ago to make use of its prime location just off of Kuhio Avenue in the heart of Waikiki. As a result of its unique design and rich history, the property was placed on the Hawaii historic registry in 2017.The offering includes both TMKs: 1-2-6-21-56, and 1-2-6-21-62 which have a total of 5, 309 square feet of APARTMIX zoned land.
The property is 100% leased on a long-term lease through 2036 to Zetton, Inc. (publicly traded in Japan) which operates its Zigu restaurant here.
The tenant pays a net rent to the landlord who is only responsible for costs relating to the roof, structure, or exterior landscaping. In addition, the tenant pays monthly percentage rent based on its gross sales. This provides an investor with further potential upside, should the tenant’s sales increase.
Also available for sale is the neighboring Cooper Apartments (15 unit multifamily property) for a total of 16, 557 sf of land area.
PROPERTY INFORMATION:
- Zoning:
- AM - Apartment Mixed Use
- Furnished:
- --
- Year Built:
- 1939
- Year Remodeled:
- --
FINANCIAL INFORMATION:
- Assd. Val. Land:
- $4,092,600
- Assd. Val. Imprv:
- $362,600
- Assd. Val. Total:
- $4,455,200
- Tax Year:
- 2022
- Monthly Taxes:
- $4,664
- Home Exempt.:
- --
SCHOOLS:
- Elem. School:
- Kuhio
- Middle School:
- Washington
- High School:
- Mckinley
OTHER PROPERTY FEATURES:
- Frontage:
- Main Street
- View:
- --
- Pool:
- --
- Amenities:
- None
- Inclusions:
- --
- Security:
- --
- Assn. Fee Inclusions:
- --
- Other Fee Inclusions:
- --
- Lot Description:
- --
- Topography:
- --
- Number of Stories:
- Two
- Building Style:
- --
- Property Condition:
- Excellent
- Construction:
- Other
- Roofing:
- Tile
- Floor Covering:
- Other
- Disclosures:
- Call Listor
- Possession:
- --
- Terms Accept.:
- Cash, 1031 Exchange
- Land Recorded:
- Land Court
- Exclusions:
- --
- Easements:
- Driveway
- Set-Backs:
- --
- Compensation*:
- 2
- Compensation Type:
- --
* The offer of compensation to cooperating brokers is made only to the Participants and MLS Subscribers of HICMLS or Participants and MLS Subscribers of other Reciprocating
Boards as set forth in that certain Multiple Listing Service Reciprocal Agreement, as amended from time to time, which is incorporated herein by reference.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Saturday, April 27, 2024. Information is deemed
reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Standard Management LLC