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By Staff | May 9, 2019

LAHAINA – Unit 302, the last available unit at Keawe Business Center, is under contract. This buyer took advantage of the reduced price of $358,000, closing costs paid up to 3 percent of the purchase price, and six months of property taxes and Association Maintenance Fees paid by the seller.

If you regret having missed out, we can accept a backup offer. You never know until it closes, and a backup purchase and sale agreement will put you into first position if this prospective buyer stumbles.

If you are interested in an office or industrial condo unit in other areas of the island, I can help. I represent several ongoing and new projects, and can help with those or resales in any other existing project.

Commercial condo units are best suited for owner-users. I can show you, with numbers, why it is better to own rather that rent.

With the still historically low interest rates we are experiencing, I will show you in my Net Cost of Buying cost/benefit analysis that:

Your interest expense is far less than rent.

As an owner-user, you may only need a 10 percent down payment. You can even finance 90 percent of the cost of your improvements, and you will be improving your space for yourself and not the landlord.

Tax savings from depreciation is yours, and not your landlord’s.

There is savings of general excise tax. You don’t pay GET on your mortgage payment.

You no longer have future rent increases.

Even your Mortgage Payment (principal and interest), less the Cash Savings from depreciation, general excise tax and future rent increases, may be less than rent.

You will accumulate significant equity through your mortgage payments. You will be building your equity, and not your landlord’s.

Future appreciation is yours.

Take control of your business’s future, and no longer deal with landlords.

Call Mario Cardone, principal broker of CardOneRealty Corp. and subagent of Peake & Levoy LLC, at 276-8132 for your free consultation and Net Cost of Buying cost/benefit analysis.