Contacts
Ian P. Clagstone
Standard Commercial
(808) 208-8100
Property Details
- Property Type Retail
- Property Size 1,144 SF
- Lot Size 0.27 Acre
- Cap Rate % 4.3
- NOI / YR 85558
- # of Floors 1
- Year Built 1961
- Year Renovated 1985
- Date Updated Feb 13, 2024
Incredible opportunity for an investor to acquire a fee simple single-tenant retail property with a long-term absolute triple net (NNN) lease to an excellent tenant, Par Hawaii, LLC. Par Hawaii was ranked the #1 in 2023 by Hawaii Business Magazine for its Top 250 list of Hawaii companies, with an annual revenue of $4.4 billion. Par Hawaii operates over 90 retail locations in Hawaii under the Hele, 76, and nomnom brands, in addition to an oil refinery which provides fuel to the islands. The lease structure allows for a passive management investment, with the tenant solely responsible for all costs of maintaining and operating the property. This property is the only gas station servicing the entire Kalihi Valley, making it high performing location on a busy thoroughfare. There is a CLEAN ENVIRONMENTAL REPORT as well.
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Long-term 11-year lease with three options to extend by five (5) years each
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Zero landlord responsibilities – the NNN lease requires the tenant to pay all real property taxes, insurance, and maintenance expenses including roof, structure, and parking areas
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Par Hawaii, LLC operates its retail locations under the Hele, 76, and nomnom brands
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Parent company is publicly traded (NYSE: PARR) with over $7.3 billion in annual revenue
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Clean environmental report with no recognized environmental conditions
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Easily accessible corner location with two curb cuts on Kalihi street
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Only gas station servicing the Kalihi Valley
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Getting around
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58/100
Walk Score ®
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49/100
Transit Score ®
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24/100
Bike Score ®
Location
- City Honolulu, HI
- Neighborhood Upper - Kalihi
- Zip Code 96819
- Market Honolulu
Points of Interest
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Honolulu International Airport Station (under Construction)
3.54 miles
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Hālawa / Aloha Stadium
4.78 miles
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Kalauao / Pearlridge
5.96 miles
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Waiawa / Pearl Highlands
8.23 miles
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Hālaulani / Leeward Community College
8.48 miles
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Hō‘ae‘ae / Waipahu Transit Center
9.30 miles
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76
0.68 miles
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Hele
1.30 miles
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Hele
1.35 miles
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Hele
1.38 miles
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Texaco
1.46 miles
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Costco Gasoline
1.59 miles
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Texaco
1.75 miles
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76
1.80 miles
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Texaco
1.81 miles
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Aloha Petroleum
1.86 miles
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Student Parking Lot 1C
1.33 miles
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Staff Parking Lot 1A
1.38 miles
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Student Parking Lot 1
1.38 miles
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Staff Parking Lot 1B
1.38 miles
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Staff Parking Lot
1.42 miles
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Staff Parking Lot 2
1.44 miles
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Staff Parking Lot 6
1.44 miles
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Staff Parking Lot 3A
1.50 miles
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Staff Parking Lot 4
1.50 miles
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Visitor Parking
1.50 miles
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Teishoku
0.36 miles
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Kamehameha Bowl
0.41 miles
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Sumo Ramen & Curry
0.42 miles
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Jamba Juice
0.43 miles
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Pizza Hut
0.45 miles
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McDonald's
0.46 miles
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Helena's Hawaiian Food
0.76 miles
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Happy Hearts
0.86 miles
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Ray's Cafe
1.00 miles
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Jack in the Box
1.03 miles
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Times Supermarket
0.36 miles
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Palama Supermarket
1.20 miles
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Foodland
1.44 miles
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Foodland
1.51 miles
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Times Supermarket
1.55 miles
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Nimitz Center
1.70 miles
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Ross
1.86 miles
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Nuuanu Shopping Plaza
1.89 miles
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Safeway
2.05 miles
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Walmart
2.22 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Contact Listing Broker
Ian P. Clagstone
Standard Commercial
(808) 208-8100
