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    1942 Main St Wailuku, HI 96793

    For Sale
    $6,500,000

    Five parcels, high NOI, redevelopment potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional investment opportunity encompasses five contiguous parcels totaling 0.51 acres situated on Main Street in Wailuku, Hawaii. The properties, identified by separate Tax Map Keys (TMKs), offer significant redevelopment potential within the Wailuku Redevelopment Area and Opportunity Zone. The combined land area spans approximately 58,706 square feet, featuring a substantial 341-foot frontage along Main Street. Existing improvements include multiple buildings with a total of approximately 27,950 square feet of building space. The property boasts a prime location, within walking distance of county and state buildings, the hospital, police station, and UH Maui College. The high-traffic location on a primary thoroughfare in Wailuku's central business district ensures excellent visibility and accessibility. The property's current Net Operating Income (NOI) is $393,779. The B-2 zoning allows for commercial mixed-use development, making it ideal for a live/work project. The property's proximity to a new municipal parking structure with 393 stalls further enhances its appeal. This offering presents a rare chance to acquire a substantial portfolio in a thriving Maui location. Detailed parcel information includes: 1942 Main St (22,154 SF land, 13,400 SF buildings)

    Property Features for 1942 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    22,216 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aloha Events Catering Event Planner New Creation Jiu ... Martial Arts School C.U.T. Market Clothing Store Road & Track Performance ... Auto Parts Store Valley Isle Electric Electrician

    Map

    City
    Wailuku
    County
    Maui
    State
    Hawaii
    Longitude
    -156.5007
    Latitude
    20.88838

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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 1942 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
    1942 Main St Wailuku, HI 96793
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