Only one ground floor unit left at Keawe Business Center
LAHAINA – Suite 101 is a corner unit with 1,331 rentable square feet of space and is priced at only $488,000 (compared with the original price of $716,000). This puts Suite 101 at among our lowest priced units at only $366.64 per square foot, and it’s a rare opportunity to own your office space.
Even with a 90 percent loan, your mortgage interest will be much lower than rent. It’s true! This is possible with historically low interest rates, and prices below replacement cost. This alone is the reason to buy.
There are many more benefits to owning Suite 101 at Keawe Business Center:
As an owner, you receive tax savings from depreciation, as well as not having to pay general excise tax on rent. This could save you nearly $400 per month.
You will no longer have those annual rent increases, which really add up over time. This represents an average savings of nearly $300 per month.
You won’t have to pay GET as you do now on rent. This is another $100 in monthly savings.
You will accumulate $170,000 (plus/minus) 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 $150,000 or more.
Private restroom – As a bonus, the remaining units will be delivered with a restroom, per seller’s specifications, and framed demised walls, which saves each buyer over $10,000.
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. You can also finance your improvements.
More control. Invest in your future, and have more control when you’re ready to sell your business or retire.
Only five units are available for sale at Keawe Business Center. The remaining five units are available in various sizes, locations and prices. Sizes range 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!
Businesses occupying the 13 sold units (out of the 18 total) include Valley Isle Community FCU, The Pink Puka baby store, Strategic Financial Alliance, Imua Physical Therapy, Insurance Associates (coming soon), Kasprzycki Designs, TS Restaurants, DLD Properties, and Hawaii Executive Transportation.
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 firstname.lastname@example.org.