For Sale | Fee Simple Parking Garage with Ground Floor Retail in Downtown Honolulu

Colliers is pleased to offer a rare opportunity to acquire Marks Garage, a fee simple parking garage with ground floor retail space in the heart of downtown Honolulu (the “Property”). The building has 4 street frontages, Nuuanu Ave, Pauahi Street, Chaplain Lane and Bethel Street and can accommodate 308 vehicles on four levels and contains 12,942 square feet of ground floor retail space, 2,700 square feet of leased parking area, and  11,334 square feet of basement storage.

The Property is located in the Chinatown submarket, on the western edge of Honolulu’s Central Business District (“CBD”). Chinatown’s historic buildings are home to an eclectic mixture of clothing boutiques, restaurants and bars, art galleries, herbalists, lei makers, antique dealers, and temples.

Properties in the Chinatown district are not required to provide parking for their tenants and customers. The lack of supply is further heightened by the high parking rates and limited supply in the nearby CBD; making Marks Garage a viable alternative. Marks Garage serves customers from the surrounding businesses, including patrons of the historic Hawaii Theatre, as well as tenants from the CBD.

The parking garage is operated by Elite parking under a parking services contract which also requires Elite to maintain the parking areas of the Property.