Mixed-Use
Kahului Shopping Center | 19.9 AC on Maui
47 W Kaahumanu Ave, Kahului, HI 96732
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present to market Kahului Shopping Center, an impressive piece of Maui real estate in the island’s largest town and commercial hub, encompassing a rare ±19.9 fee simple acres across six parcels taking up an entire city block. Kahului Shopping Center currently contains a multi-tenant retail center, three office buildings, a net leased Burger King, and a ground lease to a church. The property represents a seldom-seen opportunity to develop much-needed housing in Maui, while enjoying cash flow during entitlements and construction.
Kahului Shopping Center | 19.9 AC on Maui
Investment Highlights
- Opportunity to Acquire a Nearly 20-Acre Site on the Island of Maui: Occupied by the 136,941-SF Kahului Shopping Center | opportunity to add retail pads and redevelop ±12 acres for multifamily
- Rare True Covered Land Play: This nearly 20-acre property offers a multi-tenant rent roll with significant income to cover costs until the asset can be entitled for redevelopment.
- Immediate QSR / NNN Ground Lease Opportunity: Potential to ground lease at least two parcels along Puunene Ave, providing near-term cash flow until entitlements are obtained
- Mixed-Use Development Potential: A developer may want to explore redeveloping ±12 acres of the site to a mixed retail-residential use.
- Prime Maui Location: Kahului Shopping Center is located in the island's largest town, one block from the ocean, and surrounded by retailers, amenities, and attractions. Convenient access to major transportation hub
- Control of all six parcels allows flexibility to pursue various development strategies including a holistic redevelopment of the block or consolidation, re-subdivision and sale of development lots.
Broker of Record
Listing Price: Request For Offer
Investment Highlights
- Opportunity to Acquire a Nearly 20-Acre Site on the Island of Maui: Occupied by the 136,941-SF Kahului Shopping Center | opportunity to add retail pads and redevelop ±12 acres for multifamily
- Rare True Covered Land Play: This nearly 20-acre property offers a multi-tenant rent roll with significant income to cover costs until the asset can be entitled for redevelopment.
- Immediate QSR / NNN Ground Lease Opportunity: Potential to ground lease at least two parcels along Puunene Ave, providing near-term cash flow until entitlements are obtained
- Mixed-Use Development Potential: A developer may want to explore redeveloping ±12 acres of the site to a mixed retail-residential use.
- Prime Maui Location: Kahului Shopping Center is located in the island's largest town, one block from the ocean, and surrounded by retailers, amenities, and attractions. Convenient access to major transportation hub
- Control of all six parcels allows flexibility to pursue various development strategies including a holistic redevelopment of the block or consolidation, re-subdivision and sale of development lots.
Investment Overview
Marcus & Millichap is pleased to present to market Kahului Shopping Center, an impressive piece of Maui real estate in the island’s largest town and commercial hub, encompassing a rare ±19.9 fee simple acres across six parcels taking up an entire city block. Kahului Shopping Center currently contains a multi-tenant retail center, three office buildings, a net leased Burger King, and a ground lease to a church. The property represents a seldom-seen opportunity to develop much-needed housing in Maui, while enjoying cash flow during entitlements and construction.
Broker of Record
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