Maui Office Building & Development Opportunity

By July 29, 2016 Sold No Comments

2020 & 2050 Main Street Wailuku, Maui, HI

$5,950,000

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.

Overview

Property Highlights

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.

Property Summary

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.

Contact

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

Main Street Promenade Marketing Brochure

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