Donald G. Pixler
don@buykauai.net
(808) 635-9999
eXp Realty

4585 Kukui St
$3,900,000
Price:
$3,900,000
Bedrooms:
14
Bathrooms:
14.01
MLS:
(CONTINGENT) 661282
Interior Area:
7,408 sqft
Price/sqft:
$526
Year Built:
1989
Lot Size:
18,557 sqft
Land Tenure:
Leasehold
Property Type:
Commercial Property
On Market:
May 14, 2022
Updated:
Aug 26, 2022
Foreclosure:

Listing Remarks

This is a leasehold property, with a master lease in force through 2084. The conceiver, designer, and architect for this property has shaped this investment opportunity from 1986 to present date. The property is located a block from the Pacific Ocean and the 13-mile oceanfront bike path in the heart of downtown Kapaa, Kauai, Hawaii. Hawaii is referred to as paradise, so allow this opportunity to be your gateway to your slice of Paradise. The lessee, seller of the subject property, sold approximately 1/2 of the original parcel interest and subleases 50% of the master lease obligation to that buyer. This is a diversified investment vehicle, with approximately 4,660 sq ft comprised of 14 residential rentals. Additionally, well established Hoku Foods occupies over 2,748 sq ft on the first or of the 3-story building. Income is strong at approximately 38K per month with low expenses. See PDF attachment for Seller overview and explanation of the arrangements and financial profile. There are a wide range of detailed financial and technical documents available for this property. Additionally, there are income expansion opportunities available on this property that could create a total of 52 senior housing units and the commercial 1st floor Hoku Food space. There is one water meter, 2 electric meters and it is sewer connected. This well-established property is located on the east shore of Kauai Hawaii, central to Kauai's principal business district.

Property Location



Public Reports

Other Details

Address: 4585 Kukui St , Kapaa Town Lots 96746
Lat/Long: 22.076627 | -159.31871816
Taxkey: 4450100010000
Lot Number: 8-A
Property Type: Commercial Property
Bedrooms: 14
Full Baths: 13
Three Quarter Baths: 1
Half Baths: 1
Living Area: 7,408 sqft
Land Area:
Oceanfront Parcel: N
Pool: N
Association Dues: $0
Condo Maint. Fees: $0
Annual Tax: $23,039
Assessed Value: $2,989,200
Assessment Year: 2022
Zoning: SPA-A
Annual Tax (Year): 2015
Garage Area: 0 sqft
Car Storage:
  • Unassigned
Appliances:
  • Convection Oven
  • Microwave
  • Refrigerator
Design:
  • Double Wall
Fencing:
  • Hollow Tile
  • Wooden
  • Wire
Floor Covering:
  • Laminate
  • Other(remarks)
Heating/Cooling:
    None
Lot Description:
  • Inside
Roads:
  • County
  • Paved
Security:
  • None
Topography:
  • Level
TV Availability:
  • Cable
Washer/Dryer:
  • Coin
  • Dryer
  • Washer
Sewage:
  • Sewer-Connected
CSB** : 2.5
** Cooperating Broker Compensation: The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.