509 Kawainui St Kailua, HI 96734-2409

This fee-simple Kailua shopping center presents a rare investment opportunity. Located at 509 Kawainui St, this two-story, 3,200 square foot building sits on a 5,646 square foot lot and boasts eight units, currently 98% occupied. Built in 1958, the property features four ground-floor retail tenants and three second-floor residential units (one vacancy pending renovations). The B-2 zoning allows for diverse commercial uses, benefiting from high-visibility signage in a desirable, high-demand location. The property offers immediate cash flow and significant upside potential through strategic renovations, capitalizing on Kailua's robust retail and residential rental markets. The high occupancy rate and strong demographics make this a compelling investment for owner-users seeking predictable expenses and flexible income streams. This property is a prime example of a mixed-use investment in a thriving Hawaiian community. The building's location in Kailua, known for its outdoor lifestyle and affluent residents, ensures a strong customer base for retail tenants and high rental rates for residential units. The existing lease agreements provide immediate cash flow, while the potential for renovations and lease adjustments offers further growth opportunities. The flexible B-2 zoning allows for a variety of commercial uses, enhancing the property's versatility and appeal to potential tenants. This is a unique chance to acquire a well-positioned asset in a highly sought-after market.