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1950 Kalihi Street, Honolulu, HI 96819
$1,800,000
1950 Kalihi Street, Honolulu, HI 96819View this property at 1950 Kalihi Street, Honolulu, HI 96819
1950 Kalihi StreetHonoluluHI96819
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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.
Full Property Details
Full Property Details for 1950 Kalihi St
General
- Sold For: $1,800,000
- Taxes: $26,076 (2023)
- Status: Closed
- Type: Commercial
- MLS ID: 202313267
- Added to Site: 376 day(s) ago
Business
- Business Type: Convenience Store, Free Standing, Other, See Remarks
Interior
- Flooring: Concrete
Additional Information
- Amenities: Private Restroom
Parking
- Parking Features: On Site, Street
Location
- Area: Metro
- County: Oahu
- Neighborhood: KALIHI-UPPER
School Information
- Elementary School: Kapalama
- Middle School: Dole
- High School: Farrington
Community
- Mgmt. Company: Standard Commercial LLC
Heating & Cooling
- Cooling Type: Central AC
Utilities
- Sewer: Connected
- Utility Description: Large Water Meter, Light Electricity
Structural Information
- Description/Design: Commercial/Industrial
- Exterior Const.: Concrete Block, Metal Frame, Other
- Roof: Other
- Loading: Loading Area
- Stories/Levels: 1
- Stories Description: One
- Square Feet: 1,144
- Year Built: 1961
- Property Condition: Excellent
Lot Features
- Zoning: 31 - B-1 Neighborhood Business
Financial Considerations
- Tax Amount: $26,076
- Tax Year: 2023
- Terms: Cash, 1031 Exchange, Other
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Ownership: FS - Fee Simple
- Special Conditions: None
- Documents Avail.: Environmental Assessment, Lease Documents, Survey
- Land Tenure: Fee Simple
- Flood Zone: Zone X
- Disclosures/Reports: Call Listor, Licensed Owner, Listor Owner
- Property ID: 1-1-3-028-055-0000
Listed by Standard Management LLC
Sold by Pacific Image Properties
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Schools
Schools serving 1950 Kalihi St
School District:Hawaii Department Of Education
Rating | Name | Grades | Distance |
---|---|---|---|
1601 N School St, Honolulu, HI 96817 | K-5 | 0.5 mi | |
1803 Kamehameha IV Rd, Honolulu, HI 96819 | 6-8 | 0.3 mi | |
1564 N King St, Honolulu, HI 96817 | 9-12 | 0.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1950 Kalihi St
Date
Details
Price
Change
Source
5/31/2024
Sold
$1,800,000
-5.26%
MLS
2/16/2024
Price Reduced
$1,900,000
-4.43%
MLS
10/24/2023
Price Reduced
$1,988,000
-2.07%
MLS
6/06/2023
Listed
$2,030,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1950 Kalihi Street, Honolulu, HI 96819 (MLS# 202313267) is a Commercial property that was sold at $1,800,000 on May 31, 2024. Want to learn more about 1950 Kalihi Street? Do you have questions about finding other Commercial real estate for sale in Kalihi-Upper? You can browse all Kalihi-Upper real estate or contact a Coldwell Banker agent to request more information.