Nearby Schools
KuhioElementary School
WashingtonMiddle School
MckinleyHigh School
Description
The Zigu Building is a beautiful historic two-story retail building with an art deco-Asian decorative design and features an exclusive courtyard. Formerly a part of the Cooper Apartments, the property was converted to a retail use several years ago to make use of its prime location just off of Kuhio Avenue in the heart of Waikiki. As a result of its unique design and rich history, the property was placed on the Hawaii historic registry in 2017.The offering includes both TMKs: 1-2-6-21-56, and 1-2-6-21-62 which have a total of 5,309 square feet of APARTMIX zoned land.
The property is 100% leased on a long-term lease through 2036 to Zetton, Inc. (publicly traded in Japan) which operates its Zigu restaurant here.
The tenant pays a net rent to the landlord who is only responsible for costs relating to the roof, structure, or exterior landscaping. In addition, the tenant pays monthly percentage rent based on its gross sales. This provides an investor with further potential upside, should the tenant’s sales increase.
Also available for sale is the neighboring Cooper Apartments (15 unit multifamily property) for a total of 16,557 sf of land area.
Location
Similar Listings
MLS# 202210357
ACTIVE
$5,950,000
Listing Agent: Joe J H Jeong
Courtesy of: Sachi HI Pacific Century Prop.
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Listing Agent: Clint B Crawford Courtesy of: Standard Management LLC Attribution contact: (808) 208-8107 Based on information from the Multiple Listing Service of the Honolulu Board of REALTORS®. IDX information is provided exclusively for consumers’ personal, non-commercial use and cannot be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2022 by the Honolulu Board of REALTORS. Updated: 27th January, 2023 8:13 PM (UTC)
