Island Insurance Center | 1022 Bethel St
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Island Insurance Center 1022 Bethel St
49,574 SF 100% Leased Office Building Honolulu, HI 96813 $8,000,000 ($161/SF)
Investment Highlights
- PRIME LOCATION at the corner of Bethel and South King Streets across from the previous Walmart location on Fort Street Mall
- EXCELLENT CONDITION of interior spaces and common areas
- ABILITY TO HAVE NAMING RIGHTS for the Property by a new owner
- IDEAL FOR AN OWNER-USER who intends to occupy part of, or the entire building, with its business
- SECURED ACCESS off of Bethel Street
- TWO ELEVATORS providing convenient access throughout the building
Executive Summary
Standard Commercial LLC is pleased to present a rare opportunity for an owner-user or investor to acquire the fee simple interest
in the office property located at 1022 Bethel Street. This property, serviced by an elevator, has been meticulously maintained with
“Class A” finishes by its current tenant, Island Insurance. The tenant will be vacating at the end of 2024, making the property available
for immediate occupancy. The property features approximately 49,574 square feet of building area, including first-floor retail spaces with high visibility fronting South King and Bethel Streets. Situated in the heart of Honolulu’s downtown renaissance, it is adjacent to several significant redevelopments, including residential condominiums and retail spaces. This is an exceptional opportunity for a business to establish a strong presence and legacy in downtown Honolulu, benefiting from the ongoing revitalization and growth of the area.
in the office property located at 1022 Bethel Street. This property, serviced by an elevator, has been meticulously maintained with
“Class A” finishes by its current tenant, Island Insurance. The tenant will be vacating at the end of 2024, making the property available
for immediate occupancy. The property features approximately 49,574 square feet of building area, including first-floor retail spaces with high visibility fronting South King and Bethel Streets. Situated in the heart of Honolulu’s downtown renaissance, it is adjacent to several significant redevelopments, including residential condominiums and retail spaces. This is an exceptional opportunity for a business to establish a strong presence and legacy in downtown Honolulu, benefiting from the ongoing revitalization and growth of the area.
Property Facts In Escrow
Sale Type
Investment or Owner User
Property Type
Office
Building Size
49,574 SF
Building Class
B
Year Built
1940
Price
$8,000,000
Price Per SF
$161
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
9,915 SF
Slab To Slab
9’
Building FAR
4.90
Lot Size
0.23 AC
Zoning
BXM-4 - Business Mixed Use
Amenities
- Bus Line
- Signage
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (78)
PROPERTY TAXES
| Parcel Number | 1-2-1-002-040-0000 | Improvements Assessment | $5,407,100 |
| Land Assessment | $4,040,900 | Total Assessment | $9,448,000 |
PROPERTY TAXES
Parcel Number
1-2-1-002-040-0000
Land Assessment
$4,040,900
Improvements Assessment
$5,407,100
Total Assessment
$9,448,000
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Island Insurance Center | 1022 Bethel St
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