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    1246 King St Honolulu, HI 96814

    For Sale
    $2,550,000

    Prime Honolulu location, owner-user opportunity.

    Property size:
    1,326 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional offering presents a unique investment opportunity in the heart of Honolulu. The property encompasses two parcels: 1246 S. King Street, a retail building with existing restaurant infrastructure, and 1012 Akala Lane, a single-story duplex featuring a two-bedroom, one-bathroom unit and a three-bedroom, one-bathroom unit. The King Street property boasts excellent street visibility on a major thoroughfare, providing high vehicle traffic and convenient access. The building's square footage ranges from 1,326 to 1,728 square feet, built in 1949 and renovated in 1959. The duplex offers significant upside potential through renovation and rent increases, currently operating below market rates. Both properties sit on a combined lot size of 2,711 to 3,440 square feet, with APNs (1) 2-4-4:66 and (1) 2-4-4:67. The combined properties are zoned BMX-3, allowing for a 150-foot height limit and a 2.5 floor area ratio, presenting a prime redevelopment opportunity. This fee-simple offering is ideally suited for an owner-user seeking a restaurant or retail space with adjacent multifamily income, or a developer looking to capitalize on the central Honolulu location and favorable zoning. The property benefits from excellent public transportation access. The asking price for this combined property is $2,550,000.

    Property Features for 1246 King St

    General Information

    Property type
    Restaurants
    Square Feet
    1,326 SF

    Building Details

    Year Built/Renovated
    1949/1959

    HighLights

    • Owner‑user opportunity with existing restaurant fixtures.
    • Below‑market rents with significant upside potential.
    • Redevelopment opportunity with BMX‑3 zoning, 150‑foot height limit, and 2.5 FAR.
    • Fee‑simple ownership.
    • High‑visibility location on a major thoroughfare with excellent vehicle traffic.
    • Prime central Honolulu location with convenient public transportation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.8426094
    Latitude
    21.2995012

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    FAQs

    What type of property is this?
    Restaurant - Prime Honolulu location, owner-user opportunity.
    Where is this restaurant located?
    The property is located at 1246 King St Honolulu, HI.
    What is the asking price?
    The asking price for this property is $2,550,000.
    What are key features of this property?
    This property features: Owner-user opportunity with existing restaurant fixtures.; Below-market rents with significant upside potential.; Redevelopment opportunity with BMX-3 zoning, 150-foot height limit, and 2.5 FAR.
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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
    1246 King St Honolulu, HI 96814
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