$3,238,000

8 months ago

891 Ululani St, Hilo, HI

Name: 891 Ululani St, For Sale in Hilo - eXp Realty
Brand: Pacific Image Properties
SKU: 721953
Price: 3238000 USD

0 Bed

0 Bath

11996 sqft

MLS® 721953

Key Facts
Description
Map

Key Facts

Type Office

Levels Commercial Sale

Size 11996 sqft

Garage No

HOA Fees

Taxes $34,066

Days Active 239

Approx. Age 1995

Avg. Price Per Sqft $269

MLS® Number 721953

Property Address: 891 Ululani St, Hilo, HI, 96720-3982

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional opportunity to acquire a well-maintained, two-story commercial building currently under a True Triple Net (NNN) long-term lease with a single tenant. Encompassing approximately 11, 996 square feet of ADA-compliant interior space, the building features an elevator, multiple private offices, conference rooms, and flexible-use spaces—some previously configured for residential use. Both floors include central reception areas, men’s and women’s restrooms, with showers located on the ground floor. A dedicated laundry room with washer/dryer hookups adds further utility. Offering a solid return on investment with a current annual cap rate of 6.78%, this property presents a rare chance for income-focused investors. The tenant pays all property taxes and maintenance costs, and the lease includes scheduled rent increases tied to the Honolulu annual CPI, ensuring a strong, inflation-adjusted income stream. Strategically located on Ululani Street directly across from the Hilo Police Department, this property is outside the Tsunami Evacuation Zone and offers a south-facing front entrance—a desirable attribute for those mindful of Feng Shui. The building’s design and history of use provide exceptional versatility. It has served as a residential medical treatment center, extended educational facility for the University of Hawaii, and temporary offices for County of Hawaii mayors. A new air conditioning system was installed in 2024, adding further value and comfort for current and future occupants. Secure, paved, off-street parking is included. Its downtown Hilo location offers convenience to government offices, legal centers, and medical facilities. Please do not disturb the tenant or access the property without authorization. No site visits permitted.

MLS® Number721953

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1995

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 17, 2025List Date

$3,238,000List Price

Commute

Commute

Starting Address

Destination Address

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