For sale
Conventional restaurants
HI
Wailuku
96793
1005 Lower Main St

Wailuku Commercial Building and Land

1005 Lower Main St, Wailuku, HI 96793

View on Map

For Sale

$3,750,000

10,564 sq ft building on 2.848 acres of land.

Property size:

10,564 SF

Lot size:

2.85 Acres

Price / SF:

$354/SF

HighLights

Large Land Area: Two parcels totaling 92,670 sq ft (0.721 acres + 2.127 acres).
High Solar Power Output: 200 owned solar panels producing 57.6 kw (AC), significantly reducing electric bills.
Flexible Zoning: Zoned B‑2 Business and A‑2 Apartment, offering diverse development possibilities.
Substantial Building Size: 10,564 sq ft metal frame building with 23 ft ceilings.
Prime Frontage: Approximately 625 linear ft of frontage on Lower Main Street.
Existing Infrastructure: Includes retail space, office mezzanine, and potential for commercial kitchen adaptation.

We can help!

Listing Contact

Shane Fuke

For Sale

$3,750,000

10,564 sq ft building on 2.848 acres of land.

Property size:

10,564 SF

Lot size:

2.85 Acres

Price / SF:

$354/SF

Added:: Jul 31, 2024
Days on Market:: 687
Last Refresh:: May 12 at 9:45 pm

Property Features for 1005 Lower Main St

General Information

Standard status: Active
Size: 10,564 SF
Lot size: 2.85 Acres
Property subtype: Other

We can help!

Listing Contact

Shane Fuke

Listing agent Shane Fuke

Listing office Five Star Realty Inc.

Listing date Jul 31, 2024

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Five Star Realty Inc.

HighLights

Large Land Area: Two parcels totaling 92,670 sq ft (0.721 acres + 2.127 acres).
High Solar Power Output: 200 owned solar panels producing 57.6 kw (AC), significantly reducing electric bills.
Flexible Zoning: Zoned B‑2 Business and A‑2 Apartment, offering diverse development possibilities.
Substantial Building Size: 10,564 sq ft metal frame building with 23 ft ceilings.
Prime Frontage: Approximately 625 linear ft of frontage on Lower Main Street.
Existing Infrastructure: Includes retail space, office mezzanine, and potential for commercial kitchen adaptation.

Overview

Located in Wailuku, this property features a 10,564 sq ft metal frame building with 23-foot ceilings, situated on 0.721 acres (31,428 sq ft) of land. The property also includes an adjacent vacant land parcel of 2.127 acres (61,242 sq ft), resulting in a total of 2.848 acres. The building formerly housed a full-service bakery and contains industrial-sized walk-in freezers, refrigerators, mixers, ovens, and a commercial stainless-steel kitchen. The building includes approximately 1,200 sq ft of retail space on the ground floor, with office space on a mezzanine level directly above. The property has approximately 625 linear feet of frontage on Lower Main Street. There are 15 paved parking stalls, with additional parking available on the adjacent vacant land. The property is equipped with 200 owned solar panels at 345 W, producing 57.6 kw (AC), installed in 2017.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$419.0k	$39.66
− Vacancy	−$20.1k	−$1.90
EGI	$398.9k	$37.76
− OpEx	−$99.7k	−$9.44
NOI	$299.1k	$28.32

10,564 SF · lease $39.66/SF/yr · vacancy 4.80% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$4.27M

$3.74M – $4.99M (±1% cap)

NOI $299,143 @ 7.0% cap · market cap 7.98%

Second Best

Retail

$3.61M

$3.15M – $4.21M (±1% cap)

NOI $252,370 @ 7.0% cap · market cap 6.73%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Map

City: Wailuku
County: Maui
State: Hawaii
Longitude: -156.489102
Latitude: 20.898741

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For sale
Conventional restaurants
HI
Wailuku
96793
1005 Lower Main St

What type of property is this?

Conventional restaurant - 10,564 sq ft building on 2.848 acres of land.

Where is this conventional restaurant located?

The property is located at 1005 Lower Main St Wailuku, HI.

What is the asking price?

The asking price for this property is $3,750,000.

What are key features of this property?

This property features: Large Land Area: Two parcels totaling 92,670 sq ft (0.721 acres + 2.127 acres).; High Solar Power Output: **200 owned solar panels producing 57.6 kw (AC), significantly reducing electric bills.**; Flexible Zoning: Zoned B‑2 Business and A‑2 Apartment, offering diverse development possibilities.