1950 Kalihi St
Honolulu, HI 96819
For Sale
Active Under Contract
List Price
$1,900,000 (FS)
- Property Type:
- Commercial/Industrial
- Bedrooms:
- --
- Full Baths:
- --
- Half Baths:
- --
- Land Area (sf):
- 11,673
- Living (sf):
- --
- Lanai (sf):
- --
- Other (sf):
- --
- Parking Stalls:
- -- - On Site, Street
- MLS #:
- 202313267
- Island:
- Oahu
- Region:
- Metro Oahu
- Neighborhood:
- KALIHI-UPPER
- TMK:
- 1-1-3-028-055-0000
- List Date:
REMARKS:
EXCELLENT 1031 EXCHANGE OPPORTUNITY WITH IN-PLACE 4.5% CAP RATE WITH $85, 558 IN PASSIVE CASH FLOW! LONG-TERM LEASE TO PAR HAWAII, HAWAII’S #1 RANKED COMPANY FOR 2023 (Hawaii Business Magazine). Incredible opportunity for an investor to acquire a fee simple single-tenant retail property with a long-term absolute triple net (NNN) lease to an excellent tenant, Par Hawaii, LLC (“Par Hawaii”). Par Hawaii was ranked the #1 in 2023 by Hawaii Business Magazine for its Top 250 list of Hawaii companies, with an annual revenue of $4.4 billion. Par Hawaii operates over 90 retail locations in Hawaii under the Hele, 76, and nomnom brands, in addition to an oil refinery which provides fuel to the islands. The lease structure allows for a passive management investment, with the tenant solely responsible for all costs of maintaining and operating the property. This property is the only gas station servicing the entire Kalihi Valley, making it high performing location on a busy thoroughfare. There is a clean environmental report as well.
PROPERTY INFORMATION:
- Zoning:
- 31 - B-1 Neighborhood Business
- Furnished:
- --
- Year Built:
- 1961
- Year Remodeled:
- --
FINANCIAL INFORMATION:
- Assd. Val. Land:
- $2,083,600
- Assd. Val. Imprv:
- $147,100
- Assd. Val. Total:
- $2,230,700
- Tax Year:
- 2023
- Monthly Taxes:
- $2,173
- Home Exempt.:
- --
SCHOOLS:
- Elem. School:
- Kapalama
- Middle School:
- Dole
- High School:
- Farrington
OTHER PROPERTY FEATURES:
- Frontage:
- Main Street
- View:
- --
- Pool:
- --
- Amenities:
- Private Restroom
- Inclusions:
- --
- Security:
- --
- Assn. Fee Inclusions:
- --
- Other Fee Inclusions:
- --
- Lot Description:
- --
- Topography:
- --
- Number of Stories:
- One
- Building Style:
- --
- Property Condition:
- Excellent
- Construction:
- Concrete Block, Metal Frame, Other
- Roofing:
- Other
- Floor Covering:
- Concrete
- Disclosures:
- Call Listor, Licensed Owner, Listor Owner
- Possession:
- --
- Terms Accept.:
- Cash, 1031 Exchange, Other
- Land Recorded:
- Land Court
- Exclusions:
- --
- Easements:
- None
- 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 Friday, May 3, 2024. Information is deemed
reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Standard Management LLC