1246 King St Honolulu, HI 96814

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.