Keawe Business Center closes on the sale of five office units
LAHAINA – Keawe Business Center LLC announced that it has closed on the sale of five of its 13 units at the Keawe Business Center Class “A” office condominium. Of the eight remaining units, one is under contract and one has a pending contract.
After only six months back on the market, that leaves only one third floor unit with extraordinary ocean and Lanai views, one ground floor corner unit, and four contiguous units on the second floor. This is the only opportunity for buyers to own their fee simple condominium office space in West Maui. Building equity and having the tax benefits of owning are obtainable for those who have typically rented. However, time is running out.
The remaining units range in size from 858 to 1,495 gross square feet, and prices range from $327,000 to $517,000, which represents a dramatic discount from the original prices of $479,000 to $778,000. That’s a reduction of over 30 percent!
The timing has never been better to own. We all know that interest rates are beginning to rise, but they are still at historical lows. Most businesses qualify for 90 percent financing under the SBA 504 program, and 100 percent financing is available for medical doctors and dentists. And, the seller is willing to help find creative solutions for timing issues such as lease expiration or finding a replacement tenant, and is willing to give the time needed for plans and building permits. Prices at well below replacement cost, coupled with still historically low interest rates, yield a net cost of buying far lower than paying rent.
Buyers can take control of their business’s future, and no longer have to deal with landlords, by owning their own office. Keawe Business Center represents an excellent opportunity for business owners to invest in their future, giving them more flexibility when they’re ready to sell their business or retire.
Keawe Business Center is ideally located for those businesses serving all of West Maui. Located in the new commercial center for West Maui with Lahaina Gateway Shopping Center, Lahaina Cannery Mall, Walgreens, Longs, Safeway, Barnes & Noble, Office Max, Foodland Farms and the Lahaina Bypass nearby, this allows easy access to your office for all of your customers. This class “A” office building features an attractive, island-style design with open-air lobbies; Monier tile roof; double-glazed, insulated windows (and plenty of them); steel framing; and a full-service passenger elevator.
Mario Cardone, principal broker of CardOneRealty Corp. and subagent of Peake & Levoy LLC, is offering private showings for those wishing to secure space in what promises to be West Maui’s best business address. Call Mario at 276-8132 for your “Net Cost of Buying cost/benefit analysis” or for more information. Information is available at www.mauicommercialproperties.com, or e-mail firstname.lastname@example.org.