Active

3135 LOWER KULA Rd

Kula HI, 96790

$4,800,000


Active

Commercial

Best Mixed use property in Hawaii with an existing Auto Repair shop and multiple business opportunities, multiple commercial rentals, and multiple residential rentals. Unprecedented rent increases and demand in Maui now due to recent events. Located Upcountry in Lower Kula, Maui, Hawaii, USA at 2500 ft elevation which is known to have one of the best climates and weather in the Whole World. Awesome 360 deg bi-coastal views of the Pacific Ocean below, the West Maui Mountains across the Central Valley, and 10,000 ft high Haleakala Crater behind. Kahului Airport is 25 minutes away. This property is located in the midst of a very affluent area with homes in the $2-15 mil range. Neighbor businesses include a gas station, hardware store and plant nursery, bakery, restaurant, and food cart. This area is growing and needs a lot more business and commercial development for the population. Purchase now at an 8% cap rate with a huge upside development potential in the future. County of Maui master planned for further development with the Highest and Best uses of this property would be mixed use condos, hotel, restaurant, medical center, corporate center, Kula Town Center with values upward of $40 mil. The existing buildings here have a huge roof area which would support extensive PV panels and needed electric vehicle charging infrastructure which will be massively government subsidized in the future. Almost a level acre (.93 ac) and it has a 1" and 5/8" water meter. All utilities to property. A full size fire hydrant is directly in front of the property and another full size hydrant is 50 ft away. Currently has 2 cesspools for waste treatment and future requirements for a septic system or onsite waste treatment station is feasible. This unique property can be subdivided and or CPRd. Not currently part of an HOA. Current zoning is Interim with a change to B-CT (business country town) is planned which allows for further commercial development. This property is for a buyer with a lot of vision who wants to maximize their investment potential. Keep everything and usage the same with no changes and you can expect possible earnings of $400-500K/yr. Step up and move to the next levels of development to realize possible earnings 2-3 times this. You won't find anything better than this property anywhere in the Whole World! Steal it for $4.8 mil. This property has almost sextupled in value in the last 25 years. It will probably do this again in the next 25 years. Owner financing at great terms with $1.8 mil cash down. Subject to prior sale and zoning requirements. Buyer to use due diligence. Hurry, this won't last long! "All comments, data is provided by seller or seller's representatives. Buyer to confirm all & hold all parties harmless from any discrepancy data in the mls and advertising. Limited Service-Data Entry Addendum signed by seller/s must be sign by buyer/s with Purchase Contract."

400944

MLS ID

January 23, 2024

Listed

August 23, 2024

Updated

Map

3135 LOWER KULA Rd
Kula HI, 96790

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Individual


Heating

No

Exterior/Building Features

Lot Size

0.93 Acres


Roof

Aluminum/Steel


Sewer

Cesspool

Other Property Details

Area Name

Kula/Ulupalakua/Kanaio


Taxes

$6,940


Tax Frequency

Annually


Garage

No


Parking

On Site, On Street, Unassigned


View

Yes


View Description

Mountain/Ocean


Water Source

Large Water Meter


Pool

No

Listing History

Date

Event

Price

3/4/2024

Price change

$4,800,000

2%

Courtesy of Nathalie Mullinix Rlty Universal Inc

Listing Contact: 808-778-6578 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Brian P. Connor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 REALTORS Association of Maui, Inc. All rights reserved.

Data last updated 2:37 PM UTC, 8/23/2024

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