Fee-Simple Industrial
501 Sumner Street Apt. 6 Honolulu, HI 96817
501 Sumner Street Apt. 6, Honolulu, HI, 96817
$4,250,000
For Sale
$4,250,000
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 Market28
Property Features for 501 Sumner Street Apt. 6
General Information
- Standard status
- Active
- Size
- 9,608 SF
- Property subtype
- Automotive
Building Details
- Year Built
- 1979
Listing agency
(503) 442-9424
Listed by
William Elliott · License #HI #RB-23584
(503) 442-9424
Source
7s
Added: Jun 25 Updated: Jul 21 at 7:12PM Checked: Jul 21 at 7:12PM
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 William Elliott
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
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.2k | $18.96 |
| − Vacancy | −$2.1k | −$0.21 |
| EGI | $180.1k | $18.75 |
| − OpEx | −$27.0k | −$2.81 |
| NOI | $153.1k | $15.93 |
9,608 SF · lease $18.96/SF/yr · vacancy 1.13% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.19M
$1.91M – $2.55M
NOI $153,093 @ 7.0% cap · market cap 3.60%
Second Best
Flex RnD
$1.90M
$1.67M – $2.22M
NOI $133,278 @ 7.0% cap · market cap 3.14%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bob Arkus Custom ...
Furniture & Home Goods
William Gladstone Imports
Brewery & Distillery
Island Elite
Gym & Fitness Center
Design Asylum, Inc.
Advertising Agency
Mechanical Enterprises Inc
Construction Company
Similar For Sale Nearby
FAQs
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
