The last large oceanfront development parcel zoned M-1/B2. B-2 allows 20 TVR's above the first floor. The size of this land will allow up to 250-300 apartments or condos. The buyer should subdivide off the 26,200 sf steel frame warehouse from the rest of the land. The gross income is $403,000+ per year and the Net Operating Income (NOI) is $344,604.00. Click on associated docs for fact sheet with tenant rent roll and income and both M-1and B-2 zoning ordinances. This is an extraordinary opportunity for a developer. The yellow line on the ocean side delineates the county of Maui access easement to a pumping station. There exists a utility easement on the east side of the property(yellow line) that should be swapped for the oceanside easement. That easement could then be landscaped with palm trees and a beach set back from the ocean so it doesn't get washed away. Great spot for a theme restaurant to cater to the cruise ships that come in to Kahului Harbor every week and shopping. SEE REALTOR REMARKS FOR SELLING ONLY THE DEVELOPMENT LAND. The new map for the new plan is under associated docs. The Seller will convey approximately 5 acres + - for the condo or apartment development for $4,000,000.
Private Restrooms, Floor Drain, Raised Floor
Heavy Electricity, Large Water Meter
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This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure. Copyright, 1995-2015, REALTORS® Association of Maui, Inc. All Rights Reserved.