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 tenants 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.
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0BEDS
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0.12ACRES
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0BATHS
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01/2 BATHS
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5,204SQFT
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$1,393$/SQFT
School Information
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 tenants 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.
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