Listing Image
MLS: 712358 (Active - For Sale)
 
Asking Price: $2,300,000 Fee Simple
Type: Commercial
District: South Hilo
Street: 1080 Kilauea Ave
Neighborhood: Waiakea House Lots 2nd Series
Full / 2 Half
Living Area: 9,600 SF
Style: Office
Land Area: 14,445 SF
Days on Market: 141
(The Price of the property was lowered by $200,000 on 08/13/2024)
Year Built: 1973
Zoning: CG-7.5
Roads: County,Paved
Property Taxes: $12,163,.76
Assessed Value: $1,149,800
Assessed Ratio: 200.03%
Listing Courtesy: Iokua Real Estate, Inc. - Hilo
Terms Acceptable: 1031 Exchange,Cash,Conventional

Location! Location! Location!

Excellent opportunity to own a solid income producing property in a mixed use, high traffic, highly visible area great for investors or owner occupants alike.

Currently yielding an annual profit of approximately $132K a year with a long term lease in place thru February 1, 2029. Property is currently home to a single use tenant but has been home to multiple tenants in the past with parking in both the front and back of the building plus separate electric meters renting to multiple tenants is simple. Front office and back warehouse with mezzanine each have their own entrances and are already conveniently separated with connecting interior access via hallway to 2 half bathrooms.

Front office space is currently built out with 7 private offices, common area with cubicles, and break room.

Recent updates include new roof in March 2024, new air conditioning compressor in September 2018, and
135 PV panels with 3 inverters in December 2014

Interior showings will be granted to qualified Buyers only; please be prepared to provide proof of cash funds or pre-approval letter from a reputable lending institution. DO NOT DISTURB CURRENT OCCUPANTS

The information herein while deemed reliable may contain inaccuracies and is provided without warranty or guarantee of any kind. Buyer and Buyer's agent to do due diligence. Agents and buyers are advised to independently verify any information they deem material or important to the decision to purchase the property including, but not limited to, the condition, permits and square footage of the property. Square footage is approximate and should be verified by an appraisal.


 
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verified by the buyer. Information is deemed reliable but not guaranteed.
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