Maui Office Building & Development Opportunity
2020 & 2050 Main Street Wailuku, Maui, HI
As exclusive advisor, Kokua Realty is pleased to offer the opportunity to acquire Main Street Promenade, a 27,888 square-foot office building office building with panoramic ocean view and a 7,734 square-foot retail building located in the heart of Wailuku, Maui, Hawaii. The property is offered at a significant discount to replacement value.
Located in the heart of downtown Wailuku is Main Street Promenade. It has exceptional building identity and access. It is currently priced at a significant discount to Replacement Cost. The property has a Value-Add Potential from building expansion and Lease-Up of 10,00 SF. The Owner has conceptual drawings to develop and 8-story building offering 53 condo units (5 retail plus 48 residential) for sale.
Main Street Promenade is a fee simple property selling for $5,950,000. Both buildings for sale have a combined total occupancy of 80%. The Gross Land Area is 35,041 Square Feet. The year 1 NOI is $350,000. There are 17 parking spaces and the buildings were built in 2000.
Keoni Fursse, CCIM, R(PB)
HI License RB-16700
808.270.9111 / Keoni@Kokuarealty.com
Kara Heen R(S)
HI License RS-75141
808.270.9116 / Kara@Kokuarealty.com