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    Turnkey Bar Opportunity in Wailuku Title is generated by Realmo AI

    45 N Market St, Wailuku, HI 96793

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    For Sale
    $800,000

    Commercial-Lease Unit - Wailuku, HI

    Lot size:
    0.11 Acres
    Added:
    Dec 12, 2025
    Days on Market:
    159
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 45 N Market St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    3
    Standard status
    Active
    Lot size
    0.11 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ron Stebbins

    Listing agent Ron Stebbins License #RB-21184

    Listing office Lovely Maui Homes LLC 727 Wine'e St., Suite 108, Lahaina, HI

    Listing date Dec 12, 2025

    MLS# 408087 Listing URL

    Copyright © 2026 Realtors ® Association of Maui, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey operation with all equipment, furnishings, and branding included
    • Full liquor license in place (subject to county transfer rules)
    • Prime Wailuku location in the historic Arts District with high foot traffic
    • Strong existing customer base and proven revenue history
    • Excellent expansion opportunities (extended hours, enhanced cocktail programs, private events, live music)
    • Beautifully designed bar with custom woodwork and open‑flow floor plan

    Overview

    This is a turnkey bar opportunity located in the heart of the historic Wailuku Arts District. Known as Wai Bar, it is a thriving, fully licensed establishment with a strong local following, live music scene, and energetic atmosphere. The business features a designed bar, custom woodwork, and an open-flow floor plan that blends modern style and island charm. The property is located in a prime Wailuku location with high foot traffic, surrounded by eateries and venues, and near First Friday events. The business has a strong existing customer base and proven revenue history. A full liquor license is in place, subject to county transfer rules. Expansion opportunities include extended hours, enhanced cocktail programs, private events, live music nights, and collaboration with local artists and festivals. The property is ideal for an owner-operator or expansion of an existing bar/restaurant group. The lot size is 0.107 acres. This is a leased property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Hair Witch Maui Hair Salon Electric Bones (Bike/Boat/Book/etc) Store Piercings By Makenna Tattoo & Piercing Shop Wai Bar Bar & Pub Aphrodite Hair Salon ... Hair Salon

    Map

    City
    Wailuku
    County
    Maui
    State
    Hawaii
    Longitude
    -156.5021936
    Latitude
    20.8884985

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    FAQs

    What type of property is this?
    Bar & Pub - Thriving, fully licensed bar in Wailuku's historic arts district.
    Where is this bar & pub located?
    The property is located at 45 N Market St Wailuku, HI.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Turnkey operation with all equipment, furnishings, and branding included; Full liquor license in place (subject to county transfer rules); Prime Wailuku location in the historic Arts District with high foot traffic
    (808) 870-9813
    We can help!
    Listing Contact
    Ron Stebbins
    Real Estate License ID: RB-21184
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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