Hawaii Kai Shopping Center 377 Keahole St
144,797 SF 79% Leased Retail Building Honolulu, HI 96825 For Sale
INVESTMENT HIGHLIGHTS
- Value-Add Grocery Anchored Retail Center
- Irreplaceable Location & Limited Retail Supply
- Fully Depreciable Asset
- Top Performing Grocery Location
- Extremely Attractive Going-In Yield
- Significant Upside Potential From Ground Lease Extension
EXECUTIVE SUMMARY
The Property is currently 79% leased and anchored by one of the country’s top grocers, Safeway, through 2036. Safeway has shown exceptional commitment to the Property starting over 40 years ago as the Center’s original anchor tenant. In 2022, Safeway, again, displayed its commitment by exercising its second 15-year renewal option to 2036. The Property’s other tenants complement Safeway and offer an investor a mix of national and regional tenants, including CVS, popular local restaurants, and other daily needs.
The Center is unique since it is one of only a handful of retail centers in the Hawaii Kai neighborhood. Developed by Henry J. Kaiser in the 1960s, the Hawaii Kai neighborhood, is one of the most affluent communities within the Honolulu metro area - the highest populated area of Hawaii.
PROPERTY FACTS
AMENITIES
- Waterfront
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Bldg B • 11,000 square feet of office space • Fully built out for lab or medical use • Treatment rooms and office suites • Suitable for large company with multiple disciplines • Possible to demise the facility into several office suites • Ample parking • Views to the Marina • Excellent access to East Honolulu community • Available Now • Rent Credit / TI Negotiable
Extremely rare opportunity to lease a second generation, waterfront restaurant in the East Honolulu market, where the demand for restaurants is extremely high. This space is complete with a turn-key kitchen, large dining area with expansive views of the Hawaii Kai marina, a waterfront patio for outdoor seating, and dock access for the boating community. There is abundant parking available within Hawaii Kai Shopping Center. The new operator must have a proven track record to serve the discerning East Honolulu community.
This is an extremely rare, smaller retail space with plumbing. Suitable for multiple types of retail and light food use.
Clean space with great visibility, built out perfectly for general retail use and easily adaptable to accommodate a variety of concepts.
| Space | Size | Space Use | Position | Available |
| Bldg B | 11,000 SF | Retail | Outparcel | Now |
| C2 | 5,117 SF | Retail | In-Line | Now |
| D-12 | 426 SF | Retail | In-Line | Now |
| D-7 | 819 SF | Retail | In-Line | Now |
Bldg B
| Size |
| 11,000 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
C2
| Size |
| 5,117 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
D-12
| Size |
| 426 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
D-7
| Size |
| 819 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $15,989,700 | |
| Land Assessment | $47,060,000 | Total Assessment | $63,049,700 |
