233 Merchant Street 233 Merchant St 11,769 SF 25% Leased Office Building Honolulu, HI 96813 For Sale
INVESTMENT HIGHLIGHTS
- PRIME LOCATION in downtown Honolulu
- INVESTOR OPPORTUNITY to lease up vacancy and/or convert to residential
- SECURED BUILDING including key fob access by floor
- OWNER-USER OPPORTUNITY to occupy some or all of the 11,769 sf of vacancy and rent out the rest
- BMX zoning allows for office, retail and residential use
- CONSOLIDATE THREE PARCELS by acquiring the neighboring properties to create one of the few developable properties remaining in downtown Honolulu
EXECUTIVE SUMMARY
233 Merchant St. is a six-story boutique office building featuring a ground floor retail space, 4 full-floor suites with private elevator access and a penthouse suite. The building has undergone extensive renovations including elevator modernization, new HVAC equipment, and floor-by-floor renovations of the office space. The property is ideal for an owner-user with 5 of the 6 floors vacant. An existing tenant is on a short-term lease and can either provide stable in-place cash flow or an owner-user could occupy the entire building. Alternatively, the BMX- zoning also allows for residential use for some or all of the property. The neighboring two office buildings, 239 Merchant Street and 850 Richards Street, are also for sale, which may be purchased together or separately. They offer an investor up to 10,896 sf of BMX-4 land area for a potential long-term redevelopment of the area
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
11,769 SF
Building Class
B
Year Built/Renovated
1914/1970
Percent Leased
25%
Tenancy
Multiple
Number of Floors
6
Typical Floor Size
1,962 SF
Slab to Slab
9 ft
Building FAR
5.40
Lot Size
0.05 AC
Zoning
BMX-4 - BMX stands for "Business Mixed Use" and allows for office, retail and residential uses.
AMENITIES
- 24 Hour Access
- Controlled Access
- Signage
- Roof Terrace
- Air Conditioning
- Balcony
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Ground Floor Retail/Office space with updated private restroom. FLEX USE: boutique, gift shop, coffee shop, specialty store and more! High visibility. Walk score: 98% (Source: Walk Score 2024). Traffic count: 14,500 Vehicles/day (Source: Kalibrate Technologies (Q2 2024).
- 3rd Fl-Ste 300
- 1,910 SF
- Office
- -
- Now
- 4th Fl-Ste 400
- 1,992 SF
- Office
- -
- Now
- 5th Fl-Ste 500
- 2,022 SF
- Office
- -
- Now
Penthouse suite with 1 private office, kitchen area and private rooftop deck.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 100 | 1,841 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 300 | 1,910 SF | Office | - | Now |
| 4th Fl-Ste 400 | 1,992 SF | Office | - | Now |
| 5th Fl-Ste 500 | 2,022 SF | Office | - | Now |
| 6th Fl-Ste 600 | 1,117 SF | Office | - | Now |
1st Fl-Ste 100
| Size |
| 1,841 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 300
| Size |
| 1,910 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 400
| Size |
| 1,992 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 500
| Size |
| 2,022 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 600
| Size |
| 1,117 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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Walk Score®
Walker's Paradise (98)
Transit Score®
Excellent Transit (78)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 1-2-1-016-012-0000 | Improvements Assessment | £1,625,376 |
| Land Assessment | £659,181 | Total Assessment | £2,284,556 |
