SOLD 05/31/2024
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1950 Kalihi Street, Honolulu, HI 96819
$1,800,000 $1,900,000
Commercial
sold
1,144 sqft
Neighborhood:
Kalihi-upper
Sold 05/31/2024
$1,800,000 $1,900,000
5 min walk to DeCorte Neighborhood Park
5 min drive to Fort Shafter Golf Course
About lifestyles
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.
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Details
1961 year built
- Year Built 1961
- Original list price $2,030,000
- Days on market 361
- Price per sqft $1,573/sqft
-
Address
1950 Kalihi Street, Honolulu, HI, 96819
- Frontage Main Street
- Neighborhood Kalihi-upper
- Land area 11,673 sqft / 0.268 acres
- Total Interior Area 1,144 sqft
- City of Oahu Honolulu
- Region Honolulu
- Island Oahu
- Land tenure FS - Fee Simple
- Net Operating Income 85558
Open Houses
No upcoming open houses
Monthly payment
Calculate your monthly payments
Mortgage
$9,178
Taxes
$2,173
HOA dues
$0
Mortgage
Down payment
$360,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount
$9,178 / month
Neighborhood: Kalihi-upper
Nearby & commute
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
—
no data
Hospital
—
no data
Park
—
no data
Beach
—
no data
Elementary school
—
no data
Middle school
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no data
High school
—
no data
Local airport
—
no data
15.5 / 20
Very walkable
►
18-20
Most Walkable
15-18
Very walkable
10-15
Somewhat walkable
1-10
Car dependent
Walkability according to the National Walkability Index
Amenities & Features
Concrete floors
Roof
Other
Property Condition
Excellent
Business Type
Convenience Store, Free St
Construction/Exterior Finish
Concrete Block, Metal Frame, Other
Air Conditioning
Central AC
Loading
Loading Area
Floor Covering
Concrete
Income Information Source
Owner
Expense Information Source
Owner
Easements
None
Documents Available
Environmental Assessment, Lease Documents, Survey
Lessee/Tenant Pays
AC Maintenance, Common Area Maintenance, Electricity, Excise Tax, Fire Ins, Glass Ins, Janitorial/Trash Removal, Liability Ins, Real Estate Taxes, Water
Parking
On Site, Street
Utilities Included
Large Water Meter, Light Electricity
Amenities
Private Restroom
Kalihi-upper prices
Average price $525.74k
Neighborhood average sales price*
$525.74k
Neighborhood median sales price*
$375k
Number or sales*
105
Street median sales price*
$482.5k
*last 6 months
Schools
15 schools with rating up to 8
| School rating | Distance | |
|---|---|---|
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
Elementary School
|
0.152mi | |
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
Middle School
|
0.152mi | |
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
High School
|
0.152mi |
| School rating | Distance | |
|---|---|---|
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
|
0.152mi | |
| out of 10 |
Kaewai Elementary School
1929 Kamehameha Iv Rd,
Honolulu, HI 96819
|
0.262mi |
| out of 10 |
Kalihi Uka Elementary School
2411 Kalihi St,
Honolulu, HI 96819
|
0.396mi |
| out of 10 |
Kapalama Elementary School
1601 North School St,
Honolulu, HI 96817
|
0.522mi |
| out of 10 |
Kalihi Waena Elementary School
1240 Gulick Ave,
Honolulu, HI 96819
|
0.722mi |
| School rating | Distance | |
|---|---|---|
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
|
0.152mi | |
| out of 10 |
Governor Sanford B Dole Middle School
1803 Kamehameha IV Rd,
Honolulu, HI 96819
|
0.244mi |
|
Damien Memorial School
1401 Houghtailing Street,
Honolulu, HI 96817
|
0.758mi | |
|
St John The Baptist Catholic School
2340 Omilo Lane,
Honolulu, HI 96819
|
0.985mi | |
|
St. John the Baptist Catholic School
2340 Omilo Lane,
Honolulu, HI 96819
|
1mi |
| School rating | Distance | |
|---|---|---|
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
|
0.152mi | |
|
Damien Memorial School
1401 Houghtailing Street,
Honolulu, HI 96817
|
0.758mi | |
| out of 10 |
Governor Wallace Rider Farrington High School
1564 North King St,
Honolulu, HI 96817
|
0.868mi |
|
Academy Of The Pacific
913 Alewa Drive,
Honolulu, HI 96817
|
1.074mi | |
|
Halau Lokahi - A New Century Public Charter School
401 Waiakamilo Rd,
Honolulu, HI 96817
|
1.565mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Price history
Sold Jun 2, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Jun 2, 2024 | Sold | $1,800,000 +20% from last sold price | $1,573.43 | Public Record |
| Feb 18, 2024 | Active Under Contract | $1,900,000 | $1,660.84 | MLS #202313267 |
| Feb 16, 2024 | Price Decrease | $1,900,000 -4.43% | $1,660.84 | MLS #202313267 |
| Oct 24, 2023 | Price Decrease | $1,988,000 -2.07% | $1,737.76 | MLS #202313267 |
| Jun 7, 2023 | New Listing | $2,030,000 +35.33% | $1,774.48 | MLS #202313267 |
| Sep 22, 2022 | Sold | $1,500,000 -25% from last sold price | $1,311.19 | Public Record |
| Aug 1, 2022 | Expired | $2,000,000 | $1,748.25 | MLS #202209168 |
| May 19, 2022 | Active Under Contract | $2,000,000 | $1,748.25 | MLS #202209168 |
| May 12, 2022 | New Listing | $2,000,000 | $1,748.25 | MLS #202209168 |
Tax & MLS details 1950 Kalihi Street, Honolulu, HI, 96819
31 - B-1 Neighborhood Business zoning / MLS #202313267
Current Property Taxes p/month
$2,173
Property Tax Year
2023
Assessed Improvement value
$147,100
Assessed Land value
$2,083,600
TMK
1-1-3-028-055-0000
Land Recorded
Land Court
Zoning
31 - B-1 Neighborhood Business
Flood Zone
Zone X
Total Assessed value
$2,230,700
Listed by
Standard Management LLC
(808) 208-8107
(808) 208-8107
MLS #
202313267
Hawaii House tour report for this commercial
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Frequently asked questions for 1950 Kalihi Street
What is 1950 Kalihi Street?
1950 Kalihi Street is a Commercial/Industrial
What is the rental income?
The net income is $85,558
*check with agent
What is the full address of this commercial?
1950 Kalihi Street, Honolulu, HI, 96819.
What comparable properties are nearby?
Comparable nearby commercial properties include 2046 N King Street, 915/915C/916C Eu Lane, 2015 Kalani St, 1639 Liliha Street, 1628 Democrat St, 1100 Alakea Street unit 700.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2024 by HiCentral Mls, Ltd. Listing courtesy of Standard Management LLC. Some active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Hawaii House Inc. is a real estate brokerage firm licensed to conduct business in the State of Hawaii. Information deemed reliable, but not guaranteed.
Listings last updated on June 02, 2024.
Hawaii House Last checked less than a minute ago.
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