238 Sand Island Access Road

$ 8,500,000.00

EXCELLENT INVESTMENT OPPORTUNITY
With the rising interest rate environment and Hawaii cap rates averaging above 4% to 5.5%, a 12% return on this offering is 700 basis points above market.

ANCHORED BY FORTUNE 500 COMPANY
The leading global healthcare company and the largest distributor of medical drugs in the world, AmerisourceBergen Corporation (#4 on Forbes Fortune 500 list), occupies over 70% of the building. The space is temperature controlled with clear height and loading docks fronting Sand Island Access Road.

STABLE CASH FLOW FROM CREDIT TENANTS & HISTORICALLY HIGH OCCUPANCY
The property benefits from a strong stable cash flow and historically high occupancy from international, national, and local credit tenants.

IN-PLACE RENTS BELOW MARKET WITH UPSIDE POTENTIAL
There is potential for additional income by increasing rents to market rates as leases expire.

CONVENIENT SAND ISLAND LOCATION
The site is located on Sand Island Access Road, approximately three miles from the Daniel K. Inouye International Airport and less than two miles from the Harbor depots. The location provides easy access to freely transport containers.

DESIRABLE; EFFICIENT BUILDING FOOTPRINT
The two-level, concrete tilt-up building was constructed with high ceiling heights, multiple bays, six (6) loading docks, interior columns, air conditioning and secured with an exterior chain link fence. The second level has drive-up capability and is accessible through a security gate.

FACADE REFRESH BY MGA ARCHITECTS
Full building repaint project in 2022 (complete by year-end 2022).

Basic Facts

Status: Type: Purchase Type: Leasehold Area: 80266 sq ft
Lot size: 1.39 acres Year built: 1985 Zoning: I-2

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Additional Resources

External Link: Property Website
This listing is located in Honolulu, and is currently offered by Cushman & Wakefield ChaneyBrooks.