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    1994 Main St Wailuku, HI 96793

    For Sale
    $6,500,000

    Five parcels, high NOI, redevelopment potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional investment opportunity encompasses five contiguous parcels totaling approximately 58,706 square feet of land in Wailuku's central business district. Strategically located on Main Street, the property boasts an impressive estimated 341 feet of frontage. The assemblage includes five separate Tax Map Keys (TMKs), offering significant redevelopment potential, and could be consolidated for a larger-scale project. The existing buildings offer a combined approximate 28,000 square feet of space, including structures at 1942, 1960, and 1980 Main Street, and a total Net Operating Income (NOI) of $393,779. The property's B-2 zoning allows for commercial mixed-use development, making it ideal for a live/work project. Its prime location offers easy access to county and state buildings, a nearby municipal parking structure with 393 stalls, the hospital, police station, and UH Maui College. This offering presents a rare chance to acquire a substantial holding in a thriving, rapidly developing area within the Wailuku Redevelopment Area and an Opportunity Zone. Individual parcel sizes vary, with the largest land parcel at 20,552 square feet. The property's address is 1994 Main Street, Wailuku, HI, and is listed at $6,500,000. The sale includes MLS #s 401861, 401869, 401870, 401871, and 401872.

    Property Features for 1994 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    2,178 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Wailuku
    County
    Maui
    State
    Hawaii
    Longitude
    -156.5014
    Latitude
    20.88798

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    FAQs

    What type of property is this?
    Commercial real estate - Five parcels, high NOI, redevelopment potential.
    Where is this commercial real estate located?
    The property is located at 1994 Main St Wailuku, HI.
    What is the asking price?
    The asking price for this property is $6,500,000.
    (808) 244-2200
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    Realmo Value Estimation

    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.

    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.

    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
    1994 Main St Wailuku, HI 96793
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