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1950 Kalihi Street

Honolulu, HI 96819
  • $1,900,000
  • STATUS: Active Under Contract
  • ON SITE: 353 Days
  • MLS #: 202313267
Under Contract
UPDATED: 51 min ago
$1,900,000
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1961
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

EXCELLENT 1031 EXCHANGE OPPORTUNITY WITH IN-PLACE 4.5% CAP RATE WITH $85,558 IN PASSIVE CASH FLOW! LONG-TERM LEASE TO PAR HAWAII, HAWAIIS #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.

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© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass.

Licensed in the State of Hawaii, USA.
www.barneshawaii.com/homes/140354878
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1950 Kalihi Street Honolulu, HI 96819

  • Price: $1,900,000
  • Status: Active Under Contract
  • On Site: 353 Days
  • Updated: 51 min ago
  • MLS #: 202313267
0
Beds
0
Baths
0
½ Baths
0.27
Acres
1961
Built
Neighborhood:
Kalihi-Upper
County:
Oahu
Area:
Metro
Elementary School:
Kapalama
Middle School:
Dole
High School:
Farrington
Property Description
EXCELLENT 1031 EXCHANGE OPPORTUNITY WITH IN-PLACE 4.5% CAP RATE WITH $85,558 IN PASSIVE CASH FLOW! LONG-TERM LEASE TO PAR HAWAII, HAWAIIS #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.
Exterior Features

Construction Materials Concrete BlockMetal FrameOther Floor Number 1 Loading Loading Area Parking On SiteStreet Property Frontage Main Street Roof Other Stories One

Interior Features

Cooling Central AC Floors Concrete Sq Ft Other 0 Sq Ft Total 1144

Property Features

Amenities Private Restroom Annual Expenses 0.00 Assessed Value Improvements 147100.00 Assessed Value Land 2083600.00 Assessed Value Total 2230700.00 Building Name N/A Business Type Convenience StoreFree StandingOtherSee Remarks Disclosures Call ListorLicensed OwnerListor Owner Documents Environmental AssessmentLease DocumentsSurvey Easements None Expenses Source Owner Flood Zone Zone X Foreclosure YN No Income Source Owner Land Recorded Land Court Land Tenure FS - Fee Simple Lease Type Cash1031 ExchangeOther Listing Financing Triple Net Management Company Standard Commercial LLC Net Operating Income 85558.00 Other Income 0.00 Property Condition Excellent Property Type 96819 Sewer Connected Special Sale Conditions None Tax Amount 2173.00 Tax Annual Amount 26076.00 Tax Paid By Seller Yes Tax Year 2023 Tenant Pays AC MaintenanceCommon Area MaintenanceElectricityExcise TaxFire InsGlass InsJanitorial/Trash RemovalLiability InsReal Estate TaxesWater Total Actual Rent 7129.00 Total Income 85558.00 Utilities Available Large Water MeterLight Electricity Zoning 31 - B-1 Neighborhood Business

Listings provided courtesy of Standard Management LLC: (808) 208-8107.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Listings last updated on 2024-05-26T11:02:10.363. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd.


© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass.

Licensed in the State of Hawaii, USA.
 
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1586 Mokulua Dr.
Kailua HI, 96734