Listed by Colliers - Honolulu, Hawaii
$27,000,000
Kapiolani Business Plaza
Details
APN (1) 2-3-21: 14
Property Type Office
Sub Type Executive Office
Square Footage 173,643
Net Rentable (SqFt) 87,485
NOI $1,638,284
Occupancy 74.29%
Tenancy Multi
Lease Type NNN
Broker Co-Op Yes
Class B
Year Built 1978
Buildings 1
Stories 12
Lot Size (SqFt) 25,747
Zoning AMX-3
Parking Spaces 233 spaces
Parking Per SqFt 1.34
Investment Type Value Add
Ownership Fee Simple
Great office building near Ala Moana Center and 1000's of new condo units and hotel rooms.
Marketing description
Kapiolani Business Plaza (KBP) is a fee-simple, 87,485 SF Class B office building located in the heart of Honolulu’s Ala Moana submarket. Built in 1979, this 12-story asset is well recognized in the market and features, a diverse mix of 60 tenants that provide stable cash flow and reduced revenue risk. With a historically high occupancy rate, there is an opportunity to further enhance revenue by leasing the remaining spaces which are close to move-in ready and available for build-out. The property benefits from a favorable parking ratio of 2.6 stalls per 1,000 SF, enhancing its appeal to tenants.
Investment highlights
- Below Replacement Cost Acquisition
- Thriving Suburban Office Market
- Diverse Tenant Mix & Strong Cash Flow
- Owner-User Potential
Listing Contacts
Listed by Colliers - Honolulu, Hawaii
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,638,284.00
$136,523.67/mo
Valuation Metrics
0
DSCR
6.07%
Cap Rate
6.07%
ROI
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