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    891 Ululani St Hilo, HI 96720

    For Sale
    $3,238,000

    SINGLE_FAMILY - Hilo, HI

    Type:Office
    Property size:
    11,996 SF
    Lot size:
    0.57 Acres
    Days on Market:
    180
    Last Refresh:
    Dec 13 at 10:06 am

    Property Features for 891 Ululani St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential
    Property subtype
    Office
    TransactionType
    Standard
    Standard status
    Active
    Window features
    Blinds
    Zoning
    CG-7.5
    APN
    3240250070000
    Parking features
    Assigned, Covered
    Fencing
    Chain Link
    Size
    11,996 SF
    Lot size
    0.57 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Zoned
    Cooling system
    Zoned
    Water source
    Public

    Building Details

    Year built
    1995
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl, Carpet

    Pac Partners Group LLC (808) 870-1009 [email protected]

    Listing agent Tony Wang (808) 386-5548

    Listing date Jun 17, 2025

    Copyright © 2025 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hilo Commercial Building with NNN Lease

    This two-story commercial building, with approximately 11,996 square feet of ADA-compliant interior space, is currently under a True Triple Net (NNN) long-term lease with a single tenant. The building includes an elevator, multiple private offices, conference rooms, and flexible-use spaces, some of which were previously configured for residential use. Both floors feature central reception areas, and men's and women's restrooms, with showers located on the ground floor. A dedicated laundry room with washer/dryer hookups is also available. The property offers a current annual cap rate of 6.78%. The tenant is responsible for all property taxes and maintenance costs, and the lease incorporates scheduled rent increases tied to the Honolulu annual CPI. Located on Ululani Street directly across from the Hilo Police Department, the property is outside the Tsunami Evacuation Zone and features a south-facing front entrance. The building has previously served as a residential medical treatment center, an extended educational facility for the University of Hawaii, and temporary offices for County of Hawaii mayors. A new air conditioning system was installed in 2024. Secure, paved, off-street parking is included. The downtown Hilo location provides convenient access to government offices, legal centers, and medical facilities. The lot size is 0.57 acres. The zoning is CG-7.5.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Premier Medical Group ... Medical Clinic Melissa Garnett Nurse Practitioner Nidhi Chabora Nurse Practitioner Care Hawaii Mental Health Service Medipharm Pharmacy Pharmacy

    Map

    City
    Hilo
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.0847349
    Latitude
    19.7167245

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    FAQs

    What type of property is this?
    Office building - Two-story commercial building in Hilo with long-term NNN lease.
    Where is this office building located?
    The property is located at 891 Ululani St Hilo, HI.
    What is the asking price?
    The asking price for this property is $3,238,000.
    What are key features of this property?
    This property features: - True Triple Net (NNN) long-term lease with a single tenant, providing a passive income stream.; - Current annual cap rate of 6.78% offers a solid return on investment.; - Lease includes scheduled rent increases tied to the Honolulu annual CPI, ensuring inflation-adjusted income.
    (808) 386-5548
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    891 Ululani St Hilo, HI 96720
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    Hilo, HI 96720
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    891 Ululani St Hilo, HI 96720
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