The Eight Fifty Building | 249 Merchant St
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The Eight Fifty Building 249 Merchant St
21,832 SF 54% Leased Office Building Honolulu, HI 96813 For Sale
Investment Highlights
- PRIME LOCATION in downtown Honolulu
- INVESTOR OPPORTUNITY to lease up vacancy and/or convert to residential
- SECURED BUILDING including key fob access by floor
- OWNER-USER OPPORTUNITY to occupy some or all of the 10,000 sf of vacancy
- BMX zoning allows for office, retail and residential use
- CONSOLIDATE THREE PARCELS by acquiring the neighboring properties to create one of the few developable properties remaining in downtown Honolulu
Executive Summary
850 Richards St. is a seven-story boutique office building featuring two ground floor retail spaces and 4 full floor office spaces and 2 multi-tenant floors including a unit that could be rented as a 2 BR residential loft. The property is ideal for an owner-user who could lease the currently vacant spaces which include the entire 2nd and 7th floors and collect income from the existing tenant base. This could also be an excellent long term, multi-tenant investment property. Alternatively, the BMX- zoning also allows for residential use for some or all of the property. The neighboring two office buildings, 233 Merchant Street and 239 Richards Street, are also for sale, which may be purchased together or separately. They offer an investor up to 10,896 sf of BMX-4 land area for a potential long-term redevelopment of the area.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
21,832 SF
Building Class
B
Year Built
1955
Percent Leased
54%
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
3,119 SF
Slab To Slab
10’
Building FAR
5.01
Land Acres
0.10 AC
Zoning
BMX-4 - BMX stands for "Business Mixed Use" and allows for office, retail and residential uses.
Parking
8 Spaces (0.37 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Convenience Store
- Signage
- Kitchen
- High Ceilings
- Open-Plan
- Partitioned Offices
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 200 | 3,546 SF | Office | Full Build-Out | Now |
| 5th Fl-Ste 500 | 660 SF | Office | - | Now |
| 5th Fl-Ste 503 | 1,386 SF | Office | - | Now |
| 6th Fl-Ste 601 | 717 SF | Office | - | Now |
| 6th Fl-Ste 603 | 1,810 SF | Office | - | Now |
| 7th Fl-Ste PH 700 | 1,885 SF | Office | - | Now |
2nd Fl-Ste 200
| Size |
| 3,546 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
5th Fl-Ste 500
| Size |
| 660 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 503
| Size |
| 1,386 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 601
| Size |
| 717 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 603
| Size |
| 1,810 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste PH 700
| Size |
| 1,885 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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2nd Fl-Ste 200
| Size | 3,546 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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5th Fl-Ste 500
| Size | 660 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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5th Fl-Ste 503
| Size | 1,386 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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6th Fl-Ste 601
| Size | 717 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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6th Fl-Ste 603
| Size | 1,810 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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7th Fl-Ste PH 700
| Size | 1,885 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (78)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 1-2-1-016-007-0000 | Improvements Assessment | $3,722,000 |
| Land Assessment | $1,861,600 | Total Assessment | $5,583,600 |
PROPERTY TAXES
Parcel Number
1-2-1-016-007-0000
Land Assessment
$1,861,600
Improvements Assessment
$3,722,000
Total Assessment
$5,583,600
-
Jamie Brown -
Tiare Brown -
Summer Merit -
Hawaii Commercial Real Estate
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The Eight Fifty Building | 249 Merchant St
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