Fee-Simple Industrial
For Sale
$4,250,000
501 Sumner Street Apt. 6, Honolulu, HI 96817
Turn-key industrial condominium offers separate office areas and four parking stalls under a single-tenant NNN lease.
Property Size9,608 SF
Price / SF$442.34
Days on Market1160
Property Features for 501 Sumner Street Apt. 6
General Information
Standard status
Active
Size
9,608 SF
Total Parking Spaces
4
Site & Location
Neighborhood
Chinatown
Building Details
Tenancy
Single
Listing Agency:
eXp Commercial
Listed By:
William Elliott (B) RB-23584 · License #RB-23584
(503) 442-9424
Source:
Expcommercial
Added: Aug 23, 2023
Changed: Oct 24
Last Checked: Oct 24 at 1:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Fee-simple industrial condominium available for sale, described as turn-key and configured with separate office areas within the building. The property is leased on a single-tenant NNN basis with a stated 10-year initial term.
The offering is presented as located in Downtown Honolulu. Parking included with the property consists of four stalls.
The building contains 9,608 square feet of space, and the lease structure is referenced as NNN with an initial 10-year term.
The offering is presented as located in Downtown Honolulu. Parking included with the property consists of four stalls.
The building contains 9,608 square feet of space, and the lease structure is referenced as NNN with an initial 10-year term.
Key Highlights
- Fee‑simple industrial condominium in Downtown Honolulu with single‑tenant NNN lease
- 10‑year initial term single‑tenant NNN lease
- Over 9,608 sq. ft. of building space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,278
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,665,560
$2.7M
Cap Rate 7%
$1,903,971
$1.9M
Cap Rate 9%
$1,480,867
$1.5M
Market Conditions
NOI Build-Up for 9,608 SF
Gross rent
$207.5K $21.60/SF
− Vacancy
−$2.5K −$0.26/SF
EGI
$205.0K $21.34/SF
− OpEx
−$71.8K −$7.47/SF
NOI
$133.3K $13.87/SF
Area
Honolulu County, HI
Vacancy
1.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,665,560
Cap Rate 7%
$1,903,971
Cap Rate 9%
$1,480,867
Alternative Uses
Best Use
Flex RnD
$1.90M
$1.67M – $2.22M
NOI $133,278 @ 7.0% cap · market cap 3.14%
Second Best
Industrial
$1.80M
$1.58M – $2.10M
NOI $126,076 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$3.89M
$3.41M – $4.54M
NOI $272,484 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Turn-key industrial condominium offers separate office areas and four parking stalls under a single-tenant NNN lease.
Where is this flex space located?
The property is located at 501 Sumner Street Apt. 6 Honolulu, HI.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Fee‑simple industrial condominium in Downtown Honolulu with single‑tenant NNN lease; 10‑year initial term single‑tenant NNN lease; Over 9,608 sq. ft. of building space
