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Construction of TS Restaurants’ offices commences

By Staff | Jul 31, 2014

Twelve of the 18 units at Keawe Business Center have been purchased.

LAHAINA – Drive by Keawe Business Center, and you will see a lot of activity. TS Restaurants is building out their administrative offices in four units at the north end of the second and third floors; DLD Properties is building out their offices at the south end of the third floor; and Imua Physical Therapy has opened, joining Valley Isle Community Federal Credit Union on the ground floor.

Near Kupuohi Street, you will see a service manhole being installed, bringing the property into compliance with current county regulations. Inside, a private restroom for each remaining unit is nearly completed.

All small ground floor units are sold, and only two corner units remain on the ground floor for purchase. There is only one unit available for purchase on the third floor, and with the panoramic ocean and Lanai views, it won’t last long. Altogether, 12 of the 18 units in the building have been purchased.

If you need a small unit on the ground floor, there is a unit available on a lease (option to buy is possible). There is also a small unit for lease on the third floor. Both units are improved and provide two private offices. It’s likely that the owners of these units will sell in the future, so leasing at KBC gives you the opportunity to eventually become an owner. Renting in a rental office building will never give you that opportunity.

The remaining units for sale 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!

This is the only opportunity in West Maui for buyers to own their fee simple condominium office space. Building equity and having the tax benefits of owning are obtainable for those who have typically rented. Prices at well below replacement cost coupled with still historically low interest rates yield a net cost of buying far lower than paying rent. Most businesses qualify for 90 percent financing under the SBA 504 program, and 100 percent financing is available for medical doctors and dentists.

Buyers can take control of their business’s future and no longer have to deal with landlords. 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.

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 mario@peake-levoy.com.