250 KAMEHAMEHA AVE, HILO, HI 96720

$2,450,000
4
BA
14,559
SqFt
List Price
$2,450,000
Days on Market
26
MLS#
670448
Status
ACTIVE
Type
Commercial
Building
Young Building
Bathrooms
4
Living Area
14,559
Land Tenure
Fee Simple
Neighborhood
Hilo Town

Property Description

YOUNG BUILDING The subject property is comprised of two (2) Tax Map Parcels at the Southeast corner of Haili Street and Kamehameha Avenue in downtown Hilo, Hawaii. This historic building was built in 1939 and renovated from 2013 to 2019. Originally known as Ah Mai Store this haberdashery provided the latest styles in clothing and accessories in early Hilo. Today this central downtown location houses four (4) successful retail and restaurant establishments on the ground floor. The second floor originally provided offices (dentist, accountants, etc), storage and living units. Legal Description: 1) TMK 3-2-3-8-27 244 Kamehameha Ave (Corner Building) Includes a land area of 1,559 sq. ft. and Building area of 1,559 sq. ft. on the ground level. This space is leased to a single Tenant operating as a Gallery named “Once in Hilo”. There is an equal area on the second floor that shares access through Parcel 26 off Haili Street. 2) TMK 3-2-3-8-26 252 Kamehameha Ave (wraps around Corner Building) Includes a land area of 6,670 sq. ft. and a building area of 7,703 sq. ft.. The ground floor was leased to three (3) Tenants that include Surf Break Cafe, Joy’s Gift Shop and Paradise Restaurant Supply. The Surf Break Café is now being renovated for a Champs Bar and Grill. The second floor area remains as storage. Total Land Area: 8,229 sq. ft. Total Building Area: 9,262 sq. ft. (recorded) plus 4,500 sq. ft. (unrecorded) Utilities: County water, County Sewer, Electricity, Telephone, Cable & gas. Income and Expenses The subject property generates income from the ground floor units and the second floor offers development opportunity for an investor who could renovate and lease the space once used for office and storage. In 2019 and 2020 substantial improvements have been made to the common area servicing the ground floor units.

Additional Information

Solid Waste Disposal Trash
County-Charge
Roads
Curbs/Gutters, County, Major Thoroughfare, Paved, Street Lights
Parking
None
Taxes Annual
$9234
View
Bay, City, Coastline, Sunrise
Appliances
None
Zoning
CDH
Design
Concrete, Double Wall, Single Wall/Dbl Board, Wood Frame
Lot Size
8,229
Lot Description Land
Corner
Security
None
Water
County
Power
Gas, Overhead
Window Coverings
None
Frontage
Almost Oceanfront, Highway/Freeway
Heating Cooling
None
Sewer
Sewer-Connected
Assessed Value
650300
Topography
Fairly Level
Floor Covering
Concrete
Washer Dryer
None
District
South Hilo
Unit Description
Ground Unit, High Floor Unit, Multi-Story
Year Built
1939

Mortgage Calculator

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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Yamanaka Enterprises Inc.

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