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Only one third floor unit left at Keawe Business Center

By Staff | Mar 12, 2015

Consider owning your office space at Keawe Business Center, the only office condominium in West Maui.

LAHAINA – Priced at only $372,000 (compared with the original price of $572,000), Suite 302 is a rare opportunity to own your office space.

Why should you own? Consider the following:

Your interest expense will be less than rent (this alone is the reason to buy).

As an owner, you receive tax savings from depreciation, as well as not having to pay general excise tax on rent. This will save you an additional $400 per month.

You will no longer have those annual rent increases, which really add up over time. This represents an average savings of around $200 per month.

You will accumulate nearly $120,000 in equity over ten years through your mortgage payments.

You (not your landlord) will earn the future appreciation. Prices are at least 25 percent below replacement cost, so when the market normalizes, you could see an increase in value of $100,000 or more.

Low down payment. Most businesses qualify for 90 percent financing under the SBA 504 program, and 100 percent financing is available for medical doctors and dentists.

Limited availability. Keawe Business Center is the only office condominium in West Maui. Once these suites are gone, you will have to wait for the next wave of development with prices 25 to 30 percent higher.

More control. Invest in your future, and have more control when you’re ready to sell your business or retire.

Suite 302 features a panoramic ocean and Lanai view, and 949 gross leaseable square feet.

Private Restroom. As a bonus, the remaining units will be delivered with a nearly complete restroom and framed demised walls, which saves each buyer over $10,000.

Of course, other suites are available in various sizes, locations and prices. 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!

Mario Cardone, principal broker of CardOneRealty Corp. and subagent of Peake & Levoy LLC, is offering private showings for those wishing to purchase or lease 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.