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891 Ululani St, Hilo, HI 96720
sale
$3,238,000
|
Other
Courtesy Of Pac Partners Group LLC
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.
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Property Features
- Age: 21-30 Years Old
- Appliance: None
- Architecture Style: Other
- Cooling System: Zoned
- Floor Covering: Vinyl
- Floor Covering: Carpet
- Heating System: Zoned (Heating)
- MLSID: 720013
Directions to This Property
891 Ululani St, Hilo, HI 96720
Demographic Data for 891 Ululani St, Hilo, HI 96720
Average Age
42
Married
48%
Number of Homes
19,181
Homes with Children
30.60%
Occupation Type
Transportation to Work
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