Island
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MLS: 373333
Price: $3,965,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Kahului
Floor Level: 0
Land Area: 1.82 Acres

A flexible mixed-use district strategically located in Central Maui. VMX-CR zoning allows for multiple business uses including light industrial, office and retail integrated with single-family and multi-family uses.

This property is listed by Commercial Prop of Maui LLC

MLS: 380808
Price: $5,350,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Wailuku
Floor Level: 0
Land Area: 1.12 Acres

The price of $5,350,000 includes a separate 15,000 SF paved vacant parking lot zoned M-1 directly across the street from the building just steps to the ocean. The gas station and minute stop (Suites 101 & 101A) are not included in this sale and the parking has been adjusted accordingly. This is an incredibly unique opportunity to take advantage of the B-2 zoning on the 2nd floor which allows up to 20 transient vacation rentals pursuant to Maui County Ordinance 19.18.020. I have prepared an extensive analysis of the property which is available on "Assoc Docs." There are 9 Docs. The property is zoned M-1 light industrial Maui County Ordinance 19.24.020 which allows any use permitted in a B-1,B-2, B-3 Business District. The building size is 34,255 SF on two floors. There are a total of 23 rent-able spaces in the building. There are 48 parking spaces not counting the parking lot across the street. The total gross operating income is $413,589.00. The Net Operating Income (NOI) is $197,351.00. To put this superb property to its highest and best use the plan is to relocate the 2nd floor suites to the 1st floor and convert the 2nd floor to the 20 TVR's. The current rate of capitalization (Cap rate) is 3.68% without the 2nd floor conversion. At $125 per room per night @20 rooms the gross income is $900,000 separate from the commercial income. The projected NOI from the TVR's is $675,552.00. If you combine the $675,552.00 with the $299,119 projected NOI for the now higher occupancy based on 2nd floor moving to the first floor the NOI is now $974,671. The cap rate based on the conversion and moving the 2nd floor to the 1st floor is 18.21%. Another value added possibility is converting the 1st floor to commercial condominiums yielding 21,772 sf. Of the 23 rentable spaces 14 are occupied and 9 are vacant. Assuming the upstairs tenants agree to move downstairs (with incentives) only 7,772 sf of vacant space remains. The upside potential is enormous. CB Richard Ellis are the new leasing agents.

This property is listed by Maui Houses and Condos Realty

MLS: 377568
Price: $7,495,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Lahaina
Floor Level: 0
Land Area: 0.93 Acres

A rare opportunity to acquire two prime commercial buildings located in Lahaina. This sale includes both buildings known as The Mind's Eye, located at 1068 Limahana Place in Lahaina. The sale includes three Tax Map Keys of land totaling just under 1-acre in size. Building 1 is comprised of retail space on two floors totaling 10,665 square feet. Building 2 is comprised of retail space on two floors totaling 13,574 square feet, warehouse space of 3,959 square feet and mezzanine of 1,428 square feet. All square footage data is derived from the tax records. Both buildings were completed in the 1992 timeframe of masonry construction. The sale does not include the Mind's Eye furniture business. Purchase of the business may be negotiated separately. The property is being sold in "As Is" condition. Some nonconforming uses exist.

This property is listed by Hawaii Life (KAP)

MLS: 373213
Price: $8,110,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Kahului
Floor Level: 0
Land Area: 3.1 Acres

Located at the busy intersection of Kuikahi Drive and Waiale Road across from Walgreen's, Long's and Foodland. Ready to build lot with drainage and utilities stubbed to site. VMX zoning allows for wide array of uses.

This property is listed by Commercial Prop of Maui LLC

MLS: 379999
Price: $8,695,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Wailuku
Floor Level: 0
Land Area: 6.13 Acres

The last large oceanfront development parcel zoned M-1/B2. B-2 allows 20 TVR's above the first floor. The size of this land will allow up to 250-300 apartments or condos. The buyer should subdivide off the 26,200 sf steel frame warehouse from the rest of the land. The gross income is $403,000 per year and the Net Operating Income (NOI) is $344,604.00. Click on associated docs for fact sheet with tenant rent roll and income and both M-1and B-2 zoning ordinances. This is an extraordinary opportunity for a developer. The yellow line on the ocean side delineates the county of Maui access easement to a pumping station. There exists a utility easement on the east side of the property(yellow line) that should be swapped for the oceanside easement. That easement could then be landscaped with palm trees and a beach set back from the ocean so it doesn't get washed away. Great spot for a theme restaurant to cater to the cruise ships that come in to Kahului Harbor every week and shopping. SEE REALTOR REMARKS FOR SELLING ONLY THE DEVELOPMENT LAND. The new map for the new plan is under associated docs. The Seller will convey approximately 5 acres - for the condo or apartment development for $4,000,000.

This property is listed by Maui Houses and Condos Realty

MLS: 373212
Price: $16,416,000 Fee Simple
Status: ACTIVE
Type: Commercial-For Sale
District: Kahului
Floor Level: 0
Land Area: 7.53 Acres

Fee simple vacant land parcel near busy intersection of Kuikahi Drive and Waiale Road. VMX zoning allows for a wide array of uses. Ready to build lot with drainage and utilities stubbed to site.

This property is listed by Commercial Prop of Maui LLC

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