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    82-6151 Mamalahoa Hwy Captain Cook, HI 96704

    For Sale
    $6,500,000

    64-room boutique hotel, value-add opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 64-key boutique hotel, situated on a 104,343 sq ft lot in Captain Cook, Hawaii, presents a compelling value-add investment opportunity. The property, comprised of four buildings constructed in 1917 and 1963, boasts a rich history as Hawaii's oldest restaurant, a James Beard Award-winning establishment, and offers breathtaking ocean views. Currently operating with 64 rooms, the hotel features significant untapped potential for revenue growth. Underutilized spaces offer opportunities for conversion into additional guest rooms, amenities (such as a pool or lawn), or enhanced food and beverage offerings, including a potential 1920s-themed speakeasy. The property's below-market room and commercial rents provide immediate upside potential. The sale includes all furniture, fixtures, and equipment (FF&E), licenses, website, and trade name. The permitted zoning is CV-10, CN-7.5, and the property's Pro-Forma NOI is $987,712, yielding a 15.20% Pro-Forma Cap Rate. This offering represents a unique chance to acquire a piece of Hawaii's history and establish it as a premier boutique hotel. The address is 82-6151 Mamalahoa Hwy, Captain Cook, HI 96704, APN: 3-8-2-15-19, 3-8-2-15-22. The asking price is $6,500,000.

    Property Features for 82-6151 Mamalahoa Hwy

    General Information

    Property type
    Hotels

    Building Details

    Buildings
    4

    HighLights

    • Flexible management options; owner‑operator or third‑party management.
    • Significant ADR growth potential through renovations and amenity upgrades.
    • Value‑add opportunities from converting underutilized space into additional rooms, amenities (e.g., pool, speakeasy), or staff housing.
    • Potential to add a coin‑operated laundromat.
    • Revenue enhancement through strategic partnerships and repositioning existing commercial tenants.
    • Untapped potential to develop vacant land for guest amenities (e.g., pool, lawn).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Live Life Well ... Medical Clinic Dr. Dexter's Phyto ... Herb Shop

    Map

    City
    Captain Cook
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.9109226
    Latitude
    19.4891315

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    FAQs

    What type of property is this?
    Hotel - 64-room boutique hotel, value-add opportunity.
    Where is this hotel located?
    The property is located at 82-6151 Mamalahoa Hwy Captain Cook, HI.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Flexible management options; owner-operator or third-party management.; Significant ADR growth potential through renovations and amenity upgrades.; Value-add opportunities from converting underutilized space into additional rooms, amenities (e.g., pool, speakeasy), or staff housing.
    Request Owner's contact information
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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
    82-6151 Mamalahoa Hwy Captain Cook, HI 96704
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