65-1190 Mamalahoa Hwy - Freestanding FOR SALE


Kamuela, HI 96743
$4,198,254 USD
808-419-5171
65-1190 Mamalahoa Hwy, Kamuela, HI for Sale
$4,198,254 USD
Freestanding - FOR SALE
1/7
null | 5.5% Cap Rate

65-1190 Mamalahoa Hwy
Kamuela, HI 96743


HIGHLIGHTS

  • Stabilized NNN Medical Income
  • Contractual Rent Growth
  • Substantial Tenant Improvements
  • Below-Market Assumable Debt
  • Supply-Constrained Medical Su
  • Independent Rent Validation

OVERVIEW

Mauna Kea Center offers investors a fully stabilized, 100% occupied NNN medical office asset situated along Mamalahoa Highway in Kamuela (Waimea), on Hawaii’s Big Island. The property is anchored by Hamakua-Kohala Health (6,139 SF), a federally qualified health center (FQHC) and HHS-funded 501(c)(3) non-profit serving medically undeserved communities across the Hamakua and Kohala coastlines. Operating one of four clinic locations at the subject property, Hamakua-Kohala Health is a nationally recognized Patient-Centered Medical Home (PCMH) with a well-established, mission-driven presence in the North Hawaii market. The primary tenant recently renewed their lease for 5 years with 5% annual rent escalations and invested approximately $400,000 in plumbing and electrical improvements, demonstrating a substantive operational and financial commitment to the site. The secondary tenant, BMK Construction, occupies 275 sqft and has two 2-year options at fair market value no less than 105% of preceding lease year. Both tenants are on NNN leases and the building is currently 100% occupied. The capital structure enhances returns from day one. The in-place assumable debt at a fixed interest-only rate option, well below today’s rates, delivers meaningful positive leverage. Waimea is one of Hawaii’s most supply-constrained medical submarkets, with no meaningful development pipeline and a small concentration of healthcare providers serving a broad area. This dynamic limits tenant relocation options and supports durable long-term occupancy. Mauna Kea Center represents a compelling, income-driven opportunity in a low-competition submarket with a creditworthy, federally supported anchor tenant.

FOR SALE DETAILS

PRICE

$4,198,254 USD

PRICE/SF

$644 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mauna Kea Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,998 SF

ZONING

3L

APN/PARCEL ID

3-6-5-005-005-0000

ASK ABOUT THIS PROPERTY

808-419-5171

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808-419-5171

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