Immaculate Ululani Commercial Building
Immaculate and spacious two-story currently leased commercial building with approximately 11,996 sf of ADA compliant interior space and an elevator. Great investment property with True Triple Net long term lease in place with one tenant. Lease includes step up rent schedule correlating to increase in annual CPI Honolulu. Tenant pays all property taxes and maintenance. Current cap rate at approximately 6.39%. Current tenant has long term lease. Located on Ululani Street across from Hilo Police Department, this property is outside the Tsunami Evacuation Area. South facing front entrance provides excellent Feng Shui. Please see the 3D virtual walkthrough of property - all photos of property were taken before property was occupied. This commercial building is ideal for a number of uses. Inside the building there are conference-style rooms as well as private office areas. Some of the rooms have previously been configured as residential living spaces. On each of the floors is a central reception area. There are men's and women's bathrooms on both floors. The downstairs bathrooms also have showers. There is a room designed for use as a laundry, with washer & dryer hookups. This building has a secured off-road paved parking lot. Due to the versatile building design, it is ideal for a variety of end users. It has been used as a residential medical treatment facility, and also as extended classroom and faculty space for the University of Hawaii. This building has also been used temporarily by County of Hawaii mayors in the past. The downtown location makes it convenient to downtown, medical facilities, and legal centers on the island. No site visits, do not disturb tenant or access property.