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Liliha Professional Building 1520 Liliha St 40,296 SF 69% Leased Office Building Honolulu, HI 96817 $16,100,000 ($399.54/SF)
INVESTMENT HIGHLIGHTS
- ONE OF ONLY EIGHT MEDICAL OFFICE BUILDINGS in Honolulu which aren’t attached to a hospital campus
- VALUE-ADD OPPORTUNITY with upside through increasing rents and occupancy
- SUBSTANTIAL DISCOUNT TO REPLACEMENT COST based on a projected replacement cost of $600 per sf for new medical office buildings in Honolulu
- STABLE HISTORICAL OCCUPANCY | The Property previously averaged 94% occupancy for several yrs & consists of primarily long-term medical office tenants
- RECENTLY REMEASURED TO CURRENT BOMA STANDARDS with the rentable area of the property now reflecting a 17.35% load factor
- FINANCEABLE ACQUISITION | Existing in-place cash flow allows an investor to obtain favorable financing terms
EXECUTIVE SUMMARY
located in the heart of urban Honolulu, Hawaii. The property totals 40,296 square feet of gross leasable area and is currently 70% leased to seventeen tenants. It offers ample
on-site parking with 194 stalls.
The building recently underwent over $1 million in capital improvements, making it a turnkey opportunity for a new owner. An owner-user can secure one of the few outpatient facilities available in urban Honolulu while generating income from existing tenants. Alternatively, a value-add investor can pursue lease-up, repositioning, or condominium conversion, supported by strong in-place cash flow.
PROPERTY HIGHLIGHTS
•FUNCTIONAL FLOOR PLATES with contiguous vacant spaces and ample infrastructure allow an owner-user to easily take occupancy
• INDIVIDUAL ELECTRIC METERS for each space
• RENOVATED COMMON AREAS | Ground floor lobby was completely redone to accentuate a modern design as well as common area hallways on upper floors which had new paint, carpet, and signage
• BUILT-OUT CLINICAL SPACES | Ample in-place plumbing and functional layouts facilitate leasing to medical tenants
• AMPLE TENANT & CUSTOMER PARKING | Three-story parking garage plus an exterior surface lot provide adequate parking for tenants and visitors
• ADA COMPLIANT RESTROOMS in the common areas
• STABLE EXISTING OCCUPANCY home to thriving businesses and respected long-term medical practitioners
• ELEVATORS have undergone modernization project
• NEW CHILLER installed in 2020
• ON-SITE PHARMACY (WALGREENS) AND LABORATORY (CLINICAL LABS) SERVICES
• IRREPLACEABLE LOCATION in the heart of urban Honolulu with immediate access to the H1 freeway
PROPERTY FACTS
AMENITIES
- Bus Line
- Reception
- Partitioned Offices
- Drop Ceiling
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Spacious layout with a large waiting/reception area, ocean views, 4 exam rooms, an equipment room, 2 private offices, 2 restrooms, a server room, and storage. Ready for space plan.
- Efficient layout featuring a built-in reception, 2 offices, 4 exam rooms with sinks, and dual ingress/egress.
Prime location off the elevator lobby with a reception area, sinks, 7 exam rooms, offices, and storage.
Reception area, 6 exam rooms, 1 private office, exclusive restroom, and storage.
2 exam rooms with sinks, 1 private office, a reception, and exclusive restroom.
Built-in reception desk, large waiting room, 1 private office, storage, and a restroom.
Built-in reception desk, 5 exam rooms, 1 private office, and an exclusive restroom.
Former dental office with existing equipment, and ample plumbing throughout.
Built-in reception desk, large waiting area, 7 exam rooms/offices – several with sinks, storage, and an exclusive restroom.
Open area, 1 private office and a storage closet. Ideal for a solo physician or practitioner.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 202 | 2,554 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 205 | 1,040 SF | Office/Medical | - | Now |
| 3rd Fl-Ste 301 | 1,422 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 303 | 1,292 SF | Office/Medical | Full Build-Out | Now |
| 4th Fl-Ste 401 | 713 SF | Office/Medical | Full Build-Out | Now |
| 4th Fl-Ste 403 | 709 SF | Office/Medical | Full Build-Out | Now |
| 4th Fl-Ste 405 | 1,182 SF | Office/Medical | Full Build-Out | Now |
| 5th Fl-Ste 503 | 1,459 SF | Office/Medical | Full Build-Out | Now |
| 5th Fl-Ste 504 | 1,645 SF | Office/Medical | Full Build-Out | Now |
| 7th Fl-Ste 711B | 392 SF | Office/Medical | Full Build-Out | Now |
2nd Fl-Ste 202
| Size |
| 2,554 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 205
| Size |
| 1,040 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 301
| Size |
| 1,422 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 303
| Size |
| 1,292 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
4th Fl-Ste 401
| Size |
| 713 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
4th Fl-Ste 403
| Size |
| 709 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
4th Fl-Ste 405
| Size |
| 1,182 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
5th Fl-Ste 503
| Size |
| 1,459 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
5th Fl-Ste 504
| Size |
| 1,645 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
7th Fl-Ste 711B
| Size |
| 392 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 202
| Size | 2,554 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Spacious layout with a large waiting/reception area, ocean views, 4 exam rooms, an equipment room, 2 private offices, 2 restrooms, a server room, and storage. Ready for space plan.
2nd Fl-Ste 205
| Size | 1,040 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
- Efficient layout featuring a built-in reception, 2 offices, 4 exam rooms with sinks, and dual ingress/egress.
3rd Fl-Ste 301
| Size | 1,422 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Prime location off the elevator lobby with a reception area, sinks, 7 exam rooms, offices, and storage.
3rd Fl-Ste 303
| Size | 1,292 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Reception area, 6 exam rooms, 1 private office, exclusive restroom, and storage.
4th Fl-Ste 401
| Size | 713 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
2 exam rooms with sinks, 1 private office, a reception, and exclusive restroom.
4th Fl-Ste 403
| Size | 709 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Built-in reception desk, large waiting room, 1 private office, storage, and a restroom.
4th Fl-Ste 405
| Size | 1,182 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Built-in reception desk, 5 exam rooms, 1 private office, and an exclusive restroom.
5th Fl-Ste 503
| Size | 1,459 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Former dental office with existing equipment, and ample plumbing throughout.
5th Fl-Ste 504
| Size | 1,645 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Built-in reception desk, large waiting area, 7 exam rooms/offices – several with sinks, storage, and an exclusive restroom.
7th Fl-Ste 711B
| Size | 392 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Open area, 1 private office and a storage closet. Ideal for a solo physician or practitioner.
PROPERTY TAXES
| Parcel Number | 1-1-7-033-005-0000 | Improvements Assessment | $5,275,000 |
| Land Assessment | $6,696,700 | Total Assessment | $11,971,700 |
PROPERTY TAXES
Presented by
Liliha Professional Building | 1520 Liliha St
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