$3,238,000
bedrooms
0
bathrooms
0
square feet
11,996
Acreage
0.5693
Open Houses
-
year built
1995
Full Baths
0
Half Baths
0
Exceptional opportunity to acquire a well-maintained, two-story commercial building currently under a True Triple Net (NNN) long-term lease with a single tenant. Encompassing approximately 11,996 square feet of ADA-compliant interior space, the building features an elevator, multiple private offices, conference rooms, and flexible-use spaces—some previously configured for residential use. Both floors include central reception areas, men’s and women’s restrooms, with showers located on the ground floor. A dedicated laundry room with washer/dryer hookups adds further utility.<br><br><br><br>Offering a solid return on investment with a current annual cap rate of 6.78%, this property presents a rare chance for income-focused investors. The tenant pays all property taxes and maintenance costs, and the lease includes scheduled rent increases tied to the Honolulu annual CPI, ensuring a strong, inflation-adjusted income stream.<br><br><br><br>Strategically located on Ululani Street directly across from the Hilo Police Department, this property is outside the Tsunami Evacuation Zone and offers a south-facing front entrance—a desirable attribute for those mindful of Feng Shui.<br><br><br><br>The building’s design and history of use provide exceptional versatility. It has served as a residential medical treatment center, extended educational facility for the University of Hawaii, and temporary offices for County of Hawaii mayors.<br><br><br><br>A new air conditioning system was installed in 2024, adding further value and comfort for current and future occupants. Secure, paved, off-street parking is included. Its downtown Hilo location offers convenience to government offices, legal centers, and medical facilities.<br><br><br><br>Please do not disturb the tenant or access the property without authorization. No site visits permitted.
| Location | |
| Subdivision | KUKUAU - 1ST |
| County | - |
| Elementary School | - |
| Middle School | - |
| High School | - |
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Last update: Wednesday, April 16 2025 at 12:38 a.m. EDT
Kotohomes National