Kaimuki Self Storage for Sale
2919 Kapiolani Boulevard
Honolulu, HI 96826
County: Honolulu

Building: 16,391 sq ft
Price: $2,900,000
Price Per SF: $176.93
Cap Rate: 10.40%
Net Lease Investment: Yes
Years left on Lease: 10+

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PRICE REDUCED! OCCUPANCY UP TO 88% 10.4 CAP, 15.7% CASH ON CASH! Kaimuki Self Storage consists of 16,391 square feet of leased space in the Market City Shopping Center.

The storage facility was built in 1987 and consists of 776 storage lockers in over 60 different sizes. Storage units range from as small as 2' X2' x2' (8 cubic feet) up to 10.5' X9' X9' (850 cubic feet). The investment is being offered at a 10.4% cap rate based on current rents and 90% occupancy. Yield would be 15.7% cash-on-cash with current loan terms at 90% occupancy.

Kaimuki Self Storage is located at 2919 Kapiolani Blvd in the Market City Shopping Center, one of the main shopping centers of eastern Honolulu. This location is convenient to all the major neighborhoods of eastern Honolulu and is at the intersection of several major streets (King Street, Kapiolani Blvd. and Kahahulu Avenue) and immediately adjacent to the main Honolulu freeway, H-1.

Strategically located in the Kaimuki neighborhood, it is well situated between the ever growing number of new apartments and condos in Waikiki to the south, the students of the University of Hawaii to the north and the affluent neighborhoods of Hawaii Kai and Diamondhead to the east.

call Vincent Schwent at (916) 837-6380