Honolulu, HI 96819,1950 Kalihi ST
Listed by Standard Management LLC
Bought with Pacific Image Properties
$1,800,000
Est. payment /mo
$1,900,000
5.3%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

SOLD DATE : 05/31/2024

Key Details

Sold Price $1,800,000

Property Type Commercial

Sub Type Industrial

Listing Status Sold

Purchase Type For Sale

Subdivision Kalihi-Upper

MLS Listing ID 202313267

Sold Date 05/31/24

Construction Status Excellent

HOA Y/N No

Year Built 1961

Annual Tax Amount $26,076

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, 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.

Location

State HI

County Oahu

Area Metro

Interior

Cooling Central Air

Flooring Concrete

Fireplace No

Exterior

Garage On Site, On Street

Utilities Available Electricity Available, Sewer Connected

Parking Type On Site, On Street

Building

Story 1

Entry Level One

Sewer Connected

Level or Stories One

Construction Status Excellent

Schools

Elementary Schools Kapalama

Middle Schools Dole

High Schools Farrington

Others

Tax ID 1-1-3-028-055-0000

Financing Cash

Special Listing Condition None

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Hawaii Central MLS (HiCentralMLS)
Lex Ferguson

Agent | License ID: RS-78101

+1(808) 277-4715 | lex@lifeonoahu.com

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.