Pacific Eye Surgery Center 2055 N King St
19,175 SF 100% Leased Office Building Honolulu, HI 96819 $6,950,000 ($362/SF) 5.80% Cap Rate
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EXECUTIVE SUMMARY
• Fully leased at strong rental rates, primarily to a national credit tenant with term and annual escalations
• BMX-3 zoning allows multiples uses at the property
• Located within TOD zoning
• Located in a market (Kalihi/Kapalama) poised to see future growth potential with light rail construction and future development plans
• Opportunity to capture additional rentable square footage and increase value with BOMA remeasurement
• BMX-3 zoning allows multiples uses at the property
• Located within TOD zoning
• Located in a market (Kalihi/Kapalama) poised to see future growth potential with light rail construction and future development plans
• Opportunity to capture additional rentable square footage and increase value with BOMA remeasurement
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
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Gross Rental Income |
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Other Income |
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Vacancy Loss |
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Effective Gross Income |
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Net Operating Income |
$99,999
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$9.99
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PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
19,175 SF
Building Class
C
Year Built
1973
Price
$6,950,000
Price Per SF
$362
Cap Rate
5.80%
NOI
$402,765
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,588 SF
Slab To Slab
10’
Building FAR
1.08
Lot Size
0.41 AC
Zoning
BMX-3
Parking
40 Spaces (2.09 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
- Air Conditioning
1 of 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
Parcel Number | 1-1-2-011-092-0000 | Improvements Assessment | $1,406,800 (2024) |
Land Assessment | $3,474,500 (2024) | Total Assessment | $4,881,300 (2024) |