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3427 Waialae Ave 8,775 SF 100% Leased Retail Building Honolulu, HI 96816 $4,895,000 ($557.83/SF) 4.12% Cap Rate
INVESTMENT HIGHLIGHTS
- Total Units: 17
- Parking: 20
- 11,000sqft of Land
- Unit Type: 12 One-Bed, 5 Comm-Retail
- Year Built: 1960
- 8,775sqft of Interior
EXECUTIVE SUMMARY
RARE FIND in super desirable Waialae neighborhood with excellent opportunity to value add and increase rents with 11,000sf B-2 zoned on TWO LOTS for flexible use. Convert comm to Resi and get use exemption to lower taxes, or convert Resi to office. Currently configured as 12 one beds with secure access and 5 comm units (2 units
combine 2 spaces for 3 existing comm tenants, 1 unit used by owner for storage). All units separately metered for electric, one water meter, gas water heaters. Owned coin laundry. Resi AC owned by LL, maintained by tenants; comm AC owned and maintained by tenants. 10’ setback.
combine 2 spaces for 3 existing comm tenants, 1 unit used by owner for storage). All units separately metered for electric, one water meter, gas water heaters. Owned coin laundry. Resi AC owned by LL, maintained by tenants; comm AC owned and maintained by tenants. 10’ setback.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,775 SF
Building Class
C
Year Built
1960
Price
$4,895,000
Price Per SF
$557.83
Cap Rate
4.12%
NOI
$201,767
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.81
Lot Size
0.25 AC
Zoning
B-2
Parking
20 Spaces (2.28 Spaces per 1,000 SF Leased)
Walk Score®
Walker's Paradise (91)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1-3-2-004-011-0000 | Improvements Assessment | $994,700 |
| Land Assessment | $1,325,000 | Total Assessment | $2,319,700 |
PROPERTY TAXES
Parcel Number
1-3-2-004-011-0000
Land Assessment
$1,325,000
Improvements Assessment
$994,700
Total Assessment
$2,319,700
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3427 Waialae Ave
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