580 Kilauea Ave Hilo, HI 96720-3041

Property Details for 580 Kilauea Ave

Lot size

0.11 lot acres

Zone code

3A

Property type

Commercial land

APN

3-2-2-016-013

APU

322016013

Description

This fee-simple restaurant property at 580 Kilauea Ave, Hilo, HI 96720, presents a unique investment opportunity. The 1,852 square foot building, constructed in 1978, sits on a 0.54-acre lot and boasts 20 parking spaces, a significant advantage in this market. Previously a Burger King, the vacant property is zoned CG and offers a drive-thru on a signalized intersection, a rare combination in Hilo. Its prime location across from county offices and major retailers like Longs Drugs and CVS, provides excellent visibility and accessibility from Mamalahoa Highway and the historic downtown area. The property's strategic placement within a submarket known for high retail sales volumes and limited competition ensures a strong potential for return on investment. The ample parking and additional grassy area offer significant tenant benefits. The property's APN is 3-2-2-16-13, 3-2-2-16-14, 3-2-2-16-15 & 3-2-2-16-24. The asking price is $1,650,000, translating to $890.93 per square foot. This offering includes a single-story building on one lot, presenting a compelling opportunity for owner-users seeking a high-traffic location in Hilo's thriving retail sector. The property's size (1,852 square feet building on 23,482 square feet of land) and location offer significant potential for various restaurant concepts. Investors may also explore potential benefits under Opportunity Zone Programs, including temporary tax deferral and a step-up in basis/permanent exclusion from taxable income of capital gains.