1339-1341 N School St - Storefront FOR SALE


Honolulu, HI 96817- Kalihi-Palama
$5,800,000 USD
808-218-8318
1339-1341 N School St, Honolulu, HI for Sale
$5,800,000 USD
Storefront - FOR SALE
1/5
null | 5.49% Cap Rate

NEW


1339-1341 N School St
Honolulu, HI 96817
Kalihi-Palama


HIGHLIGHTS

  • Stabilized Retail Opportunity
  • Modernized and Move-in Ready
  • Central Kalihi Location and Future Potential

OVERVIEW

Offered for sale is a fully renovated, stabilized multi-tenant retail property located in the Kalihi submarket of Honolulu, an infill location with strong local demand and limited new supply. The asset is 100% leased to a roster of established local food-and-beverage tenants, including Rainbow Drive-In, Kale’s Hale, and DT Steakhouse, providing durable cash flow supported by daily-use tenancy. The property generates a current Net Operating Income of $318,631.56, with contractual annual rent escalations, offering immediate income with predictable growth. Ownership has completed a comprehensive renovation program, including new grease trap infrastructure, upgraded windows and façade, new mechanical systems, and new plumbing, materially reducing deferred maintenance and near-term capital requirements. The offering includes two additional contiguous parcels totaling 9,483 square feet, presently utilized as overflow parking. These parcels represent a covered land component with future redevelopment or densification potential, providing long-term optionality beyond in-place income (subject to zoning and approvals). This opportunity is well-suited for investors seeking stable, inflation- resistant cash flow, minimal capital exposure, and embedded upside in a supply-constrained Honolulu infill market.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$700 USD /SF

CAP RATE

5.49%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

CROSS STREETS

Houghtailing Street

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

B-2

APN/PARCEL ID

1-1-6-005-012-0000,1-1-6-005-020-0000,1-1-6-005-021-0000

ASK ABOUT THIS PROPERTY

Jay ElickerCommercial Asset AdvisorsMore Info
808-218-8318

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Jay ElickerCommercial Asset AdvisorsMore Info
808-218-8318

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.