750 Palani Ave, Honolulu, HI 96816
10,800 SF | Office Building | Honolulu, HI 96816 | $6,200,000 ($574/SF) | 7.03% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,200,000
- Property Type
-
Office
- Square Feet
- 10,800 SF
- Price / Square Foot
- $574
Listing Contacts
Matthew Bittick
Verified Profile
Matthew McKeever
Verified Profile
James Shipman
Verified Profile
- Property Info
Property Overview
CBRE Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in a single tenant absolute net lease at 750 Palani Avenue (“the Property”) located on Oahu in the urban Kapiolani Submarket, Hawaii.
The Property consists of approximately .25 acres of B-2 zoned land and a two-story elevator served concrete tilt up building that is 100% leased to USRC Kapahulu LLC and guaranteed by U.S. Renal Care Inc, its parent company.
U.S. Renal Care (“Company”) serves more than 26,000 patients across 32 States and in more than 400 facilities providing in-center and home dialysis. In 2015 DSI Renal, the third largest company in this space, merged with the Company. In 2019 the Company developed a partnership with an investor group including Bain Capital Private Equity, Summit Partners and Revelstoke Capital Partners. Currently the Company has 16-locations throughout the State of Hawaii.
The Property consists of approximately .25 acres of B-2 zoned land and a two-story elevator served concrete tilt up building that is 100% leased to USRC Kapahulu LLC and guaranteed by U.S. Renal Care Inc, its parent company.
U.S. Renal Care (“Company”) serves more than 26,000 patients across 32 States and in more than 400 facilities providing in-center and home dialysis. In 2015 DSI Renal, the third largest company in this space, merged with the Company. In 2019 the Company developed a partnership with an investor group including Bain Capital Private Equity, Summit Partners and Revelstoke Capital Partners. Currently the Company has 16-locations throughout the State of Hawaii.
Property Details
- Class
- B
- Year Built
- 1993
- Stories
- 2
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 10,890 SF
Highlights
- A fee simple single tenant absolute net lease medical outpatient and specialty dialysis treatment center in Honolulu, Hawaii
- Established mission critical business, U.S. Renal Care has 16-locations throughout the State of Hawaii
- Exceptional credit and owned by global private equity firm, Bain Capital Private Equity
- Stable, absolute triple net lease structure that includes 3% annual rent increases
- Low-to-no maintenance investment opportunity ideal for a 1031 Exchange
- Tenant has invested substantial money into its FF&E and has improved the premises to meet required safety & quality standards
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