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707 Richards St
Honolulu, HI 96813
Richards Building · Office Property For Sale
Investment Highlights
- Located in the heart of Honolulu’s CBD, 707 Richards Street offers convenient access to government, financial, legal and downtown business amenities.
- Ongoing office-to-residential and mixed-use conversions are reducing downtown office supply and strengthening the position of remaining office assets.
- A diversified tenant roster provides in-place income with opportunities to increase occupancy, grow rents and reposition suites over time.
- Honolulu’s office market continues its positive momentum, with declining vacancy, tightening supply and steady tenant demand.
- The property offers more than double the average CBD parking ratio which serves as a key competitive advantage.
- A significant remaining ground lease term and available extension offer stability and flexibility for investors.
Executive Summary
Located in the heart of Honolulu’s Central Business District, 707 Richards Street presents a compelling investment opportunity in Oahu’s most established urban corridor. Currently operating as a multi-tenant office property with a diversified tenant roster, the asset offers investors healthy cash flow coupled with meaningful near-term upside as downtown Honolulu’s office market continues to tighten and outpace most comparable mainland markets.
Positioned within a tightening office market, and with a history of above market occupancy through 2025, the property stands to benefit from improving market fundamentals and a shrinking competitive inventory resulting from ongoing office-to-residential and mixed-use conversions throughout the urban core. In addition, the property features a best-in-market parking ratio — a significant competitive advantage in Honolulu’s CBD where convenient parking options have become increasingly scarce and highly sought after due to return to office mandates.
The offering is particularly attractive to local and regional investors familiar with the unique dynamics of Honolulu’s office and leasehold markets. With substantial remaining ground lease term and a negotiated extension readily available for a buyer to execute, the asset provides long-term operational flexibility and investment security while positioning ownership to capitalize on future market growth.
Positioned within a tightening office market, and with a history of above market occupancy through 2025, the property stands to benefit from improving market fundamentals and a shrinking competitive inventory resulting from ongoing office-to-residential and mixed-use conversions throughout the urban core. In addition, the property features a best-in-market parking ratio — a significant competitive advantage in Honolulu’s CBD where convenient parking options have become increasingly scarce and highly sought after due to return to office mandates.
The offering is particularly attractive to local and regional investors familiar with the unique dynamics of Honolulu’s office and leasehold markets. With substantial remaining ground lease term and a negotiated extension readily available for a buyer to execute, the asset provides long-term operational flexibility and investment security while positioning ownership to capitalize on future market growth.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
102,140 SF
Building Class
A
Year Built
1988
NOI
$1,605,260
Percent Leased
74%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
12,768 SF
Building FAR
2.66
Lot Size
0.88 AC
Zoning
B-2
Parking
269 Spaces (2.94 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 1-2-1-026-013-0000 | Improvements Assessment | $16,233,400 |
| Land Assessment | $11,443,600 | Total Assessment | $27,677,000 |
Property Taxes
Parcel Number
1-2-1-026-013-0000
Land Assessment
$11,443,600
Improvements Assessment
$16,233,400
Total Assessment
$27,677,000
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