750 Palani Ave
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750 Palani Ave
10,800 SF Office Building Honolulu, HI 96816 $6,200,000 ($574/SF) 7.03% Cap Rate
Investment Highlights
- A fee simple single tenant absolute net lease medical outpatient and specialty dialysis treatment center in Honolulu, Hawaii
- Exceptional credit and owned by global private equity firm, Bain Capital Private Equity
- Low-to-no maintenance investment opportunity ideal for a 1031 Exchange
- Established mission critical business, U.S. Renal Care has 16-locations throughout the State of Hawaii
- Stable, absolute triple net lease structure that includes 3% annual rent increases
- Tenant has invested substantial money into its FF&E and has improved the premises to meet required safety & quality standards
Executive Summary
CBRE Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in a single tenant absolute net lease at 750 Palani Avenue (“the Property”) located on Oahu in the urban Kapiolani Submarket, Hawaii.
The Property consists of approximately .25 acres of B-2 zoned land and a two-story elevator served concrete tilt up building that is 100% leased to USRC Kapahulu LLC and guaranteed by U.S. Renal Care Inc, its parent company.
U.S. Renal Care (“Company”) serves more than 26,000 patients across 32 States and in more than 400 facilities providing in-center and home dialysis. In 2015 DSI Renal, the third largest company in this space, merged with the Company. In 2019 the Company developed a partnership with an investor group including Bain Capital Private Equity, Summit Partners and Revelstoke Capital Partners. Currently the Company has 16-locations throughout the State of Hawaii.
The Property consists of approximately .25 acres of B-2 zoned land and a two-story elevator served concrete tilt up building that is 100% leased to USRC Kapahulu LLC and guaranteed by U.S. Renal Care Inc, its parent company.
U.S. Renal Care (“Company”) serves more than 26,000 patients across 32 States and in more than 400 facilities providing in-center and home dialysis. In 2015 DSI Renal, the third largest company in this space, merged with the Company. In 2019 the Company developed a partnership with an investor group including Bain Capital Private Equity, Summit Partners and Revelstoke Capital Partners. Currently the Company has 16-locations throughout the State of Hawaii.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
10,800 SF
Building Class
B
Year Built
1993
Price
$6,200,000
Price Per SF
$574
Cap Rate
7.03%
NOI
$436,061
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
5,400 SF
Slab To Slab
10’
Building FAR
0.99
Land Acres
0.25 AC
Zoning
B-2 Commercial
Parking
50 Spaces (4.63 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 of 1
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 1-2-7-034-022-0000 | Improvements Assessment | $2,169,300 |
| Land Assessment | $2,851,800 | Total Assessment | $5,021,100 |
PROPERTY TAXES
Parcel Number
1-2-7-034-022-0000
Land Assessment
$2,851,800
Improvements Assessment
$2,169,300
Total Assessment
$5,021,100
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Matthew Bittick -
Matthew McKeever -
James Shipman -
CBRE, Inc.
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750 Palani Ave
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