1950 Kalihi Street, Honolulu, HI 96819
- $1,800,000
- Sold Price
- $1,800,000
- List Price
- $1,900,000
- Days on Market
- 360
- Closing Date
- May 31, 2024
- MLS#
- 202313267
- Status
- CLOSED
- Type
- Commercial
- Building
- N/A
- Land Area
- 11,673
- Land Tenure
- FS - Fee Simple
- Neighborhood
- Kalihi Upper
- Subdivision
- Kalihi-Upper
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.
/u.realgeeks.media/liveplayhawaii/kevin_pedersen-square.jpg)
Additional Information
- Island
- Oahu
- Utilities
- Electricity Available, Sewer Connected
- Elementary School
- Kapalama
- Middle School
- Dole
- High School
- Farrington
- Lot Size
- 11,673
- Construction Materials
- Block, Metal Frame, Other, Concrete
- Neighborhood
- Kalihi Upper
- Year Built
- 1961
- Building Name
- N/A
- Sewer
- Connected
- Parking Features
- On Site, On Street
- Stories
- 1
- Assessed Total
- 2230700
Mortgage Calculator
Listing courtesy of Standard Management LLC. Selling Office: Pacific Image Properties.
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Contact: (808) 208-8107