FOR SALE | MULTI-TENANT INDUSTRIAL PROPERTY

96-1385 Waihona St

96-1385 Waihona St, Pearl City, HI, 96782

Asking Price

$10,900,000

Available

33,170 SF

Land Area

1.45 Acres

Property Overview

Facts

Location: Pearl City Industrial Park
Address: 96-1385 Waihona St, Pearl City, HI, 96782
TMK: 1-9-6-008-008
Zoning: I-1 (Limited Industrial District)
Land Area: 1.45 acres
Building Size: 33,170 SF
Space Available: 33,170 SF
Asking Price: $10,900,000
Real Property Tax: $71,256.60 (2024)
Tenure: Fee Simple

Colliers is pleased to present 96-1385 Waihona St, a fully leased multi-tenant industrial property located in the heart of Pearl City Industrial Park. The fee simple offering includes 33,170 square feet of building area across five structures on 63,017 square feet of land, with 47 parking stalls and a 100% occupied rent roll supported by eight different tenants. The property offers a balanced mix of office and industrial tenancy, short-term leases that create near-term flexibility for investors or future owner-occupants, and current rents that are approximately 20% below market, providing a compelling opportunity for rent growth upon renewal. Building areas include Building A at 10,137 square feet, Building B at 8,877 square feet, Building C at 4,510 square feet, Building D at 6,686 square feet, and Building E at 2,960 square feet. A 312-panel, 6-inverter photovoltaic solar system generates an average of more than 300 kWh per day, helping reduce owner energy usage and operating expenses.

Highlights

Stable Cash Flow:

A tenant mix of eight different tenants provides diversified income and reduces reliance on any single business sector.

Strategic Location:

The central Pearl City Industrial Park location provides efficient access across Oahu, placing major markets within approximately a 20-minute drive.

Landlord Market:

Oahu’s industrial market vacancy was reported at approximately 1.21%, creating favorable conditions for owners seeking durable demand and rental rate growth.

Rent Growth:

Current rents are approximately 20% below current market rents, creating an opportunity for immediate upside as leases renew.

Solar Savings:

The property includes a 312-panel, 6-inverter photovoltaic system that generates an average of more than 300 kWh per day to help reduce operating expenses.

Flexible Occupancy:

Short-term lease structures provide investors the ability to renegotiate terms while giving owner-occupants potential flexibility to occupy space in the near future.

Fee Simple:

The property is offered fee simple, providing long-term ownership control in one of Oahu’s established industrial submarkets.

Onsite Parking:

The property includes 47 parking stalls, supporting the operational needs of its multi-tenant industrial and office user base.

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