investment highlights
- EXPANSION POTENTIAL // Current approved and fully permitted plans include the development of an additional 21,070 net rentable square feet on a one-acre vacant parcel within the site boundary. This non-climate- controlled addition is projected to generate over $457,000 in gross potential rent annually. The expansion will complement the existing facility by introducing larger, high-demand unit sizes, enhancing operational efficiency and capturing unmet market demand.
- UPSIDE POTENTIAL // As the sole asset owned by the current operator on the island, this property presents a compelling opportunity for the next owner to leverage a new management platform and capitalize on an existing footprint in a high-demand, supply-constrained market.
- RARE OPPORTUNITY // Self-storage trades across the Hawaiian Islands remain exceptionally limited due to constrained inventory and high barriers to entry. This scarcity, coupled with strong forward-looking fundamentals, positions Hawaii as one of the most attractive self-storage markets in the U.S. The islands consistently achieve some of the highest rental rates nationwide, outperforming mainland benchmarks and reinforcing the long-term value of well-positioned assets in this region.
- ATTRACTIVE LAYOUT & DESIGN // The facility features ground-level, drive-up access across the majority of the property—an increasingly limited and highly sought-after configuration in the local market. Unlike competitors that offer interior climate-controlled units with elevator access, this layout caters to tenant demand for convenience and accessibility, carving out a distinct niche and enhancing operational appeal.
- STRONG LOCATION // Strategically positioned just off Mamalahoa Highway—Hilo’s primary arterial route—the facility sits between the central business district and the region’s largest residential communities. This location offers exceptional convenience, making it a highly accessible option for both residential and commercial tenants seeking proximity and ease of use.
property summary
Storage Star is a 620-unit, 59,954 net rentable square foot self-storage facility located in Kea’au, Hawaii. The property sits on approximately four acres of land, was constructed in 1998 and contains nine single-story non-climate- controlled buildings. The existing buildings are constructed with quality high gauge steel and block with metal standing seam roofs and metal roll up doors. In addition, there’s an undeveloped one acre piece of land inside the fence that is fully approved and permitted for expansion with current plans calling for approximately 21K square feet of additional square footage designed for larger high door units.
Storage Star has many amenities including a gated entry with a digital keypad, an on-site leasing office, 24/7 video surveillance throughout the facility, wide concrete drive aisles, LED lighting throughout, secure interior hallway units out of the elements and premium roll up doors. The facility has prominent elevated signage to the frontage road.
The facility is centrally located in Kea’au just off of Mamalahoa highway, connecting the areas largest residential communities (Orchid Land Estates & Hawaii Paradise Park) to the central business district of Hilo. This heavily traveled commuter corridor sees over 45K vehicles per day placing Storage Star right in the middle of where the local residents live and work. Strong storage fundamentals, high barriers to entry and a vibrant local economy should bolster revenue growth well into the future.
