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75-5663 Palani Road, Kailua Kona, HI 96740

$4,295,000 $4,495,000 Commercial sold 8,560 sqft Neighborhood:  Kailua Village Sold 08/03/2021 $4,295,000 $4,495,000
EXCELLENT STABLE INVESTMENT WITH LONG-TERM UPSIDE OPPORTUNITY! PROFORMA 7.1% CAP RATE YEAR 2! The offering consists of the fee simple interest in the Kona Seaside Shops, a five-building resort-retail property situated on 33,411 square feet of resort-zoned land. Bordering Alii Drive & Palani Drive, the property is directly across the street from the Kona pier where cruise ships dock, is adjacent to the 125-room Kona Seaside Hotel and across the street from the Courtyard King Kamehameha Beach Hotel (452 rooms), providing excellent foot traffic on the main tourist thoroughfare in Kona. The property is currently ground lease through September 2022 at which point the improvements revert to the fee owner, providing a stable income source in the near term with long-term upside in 2022.
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Details

1971 year built
  • Year Built 1971
  • Original list price $4,495,000
  • Days on market 55
  • Price per sqft $502/sqft
  • Address

    75-5663 Palani Road, Kailua Kona, HI, 96740

  • Frontage Main Street
  • Neighborhood Kailua Village
  • Land area 33,411 sqft / 0.767 acres
  • Total Interior Area 8,560 sqft
  • City of Big Island Kailua Kona
  • Region North Kona
  • Island Big Island
  • Land tenure FS - Fee Simple
  • Number of Units 5
  • Net Operating Income 133476

Open Houses

No upcoming open houses

Monthly payment

Calculate your monthly payments
Mortgage
$21,899
Taxes
$1,677
HOA dues
$0
$23,576 per month
Mortgage
Down payment
$859,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount $21,899 / month

Amenities & Features

Concrete floors
Roof
Shingle
Property Condition
Average
Business Type
Community Center, Neighbor
Construction/Exterior Finish
Concrete Block, Wood Frame
Air Conditioning
Individual
Loading
None
Floor Covering
Concrete
Income Information Source
Owner
Expense Information Source
Owner
Easements
Other
Documents Available
None
Lessee/Tenant Pays
Common Area Maintenance, Electricity, Excise Tax, Fire Ins, Gas, Glass Ins, Janitorial/Trash Removal, Liability Ins, Other, Real Estate Taxes, Water
Parking
On Site
Utilities Included
Gas, Large Water Meter, Light Electricity
Amenities
None

Kailua Village prices

Average price $862.15k
Neighborhood average sales price*
$862.15k
Neighborhood median sales price*
$840k
Number or sales*
13
Street median sales price*
$812.5k
Median sale price Ewa Oceanside*
$693k
*last 6 months

Price history

Sold Aug 3, 2021
Date Event Price $/sqft Source
Aug 3, 2021 Sold $4,295,000 $501.75 Public Record
Jul 1, 2021 In Escrow - not showing $4,495,000 $525.12 MLS #202115283
Jun 17, 2021 New Listing $4,495,000 -4.36% $525.12 MLS #202115283
Oct 2, 2020 Withdrawn $4,700,000 $549.07 MLS #202011757
Aug 18, 2020 Temporarily Withdrawn $4,700,000 $549.07 MLS #202011757
May 28, 2020 New Listing $4,700,000 $549.07 MLS #202011757
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Tax & MLS details 75-5663 Palani Road, Kailua Kona, HI, 96740

X6 - Resort Mixed Use Precinct zoning / MLS #202115283
Current Property Taxes p/month
$1,677
Property Tax Year
2020
Assessed Improvement value
$505,200
Assessed Land value
$981,200
TMK
3-7-5-006-017-0000
Land Recorded
Land Court
Zoning
X6 - Resort Mixed Use Precinct
Flood Zone
Zone V
Total Assessed value
$1,486,400
Listed by
Standard Management LLC
MLS #
202115283
Hawaii House tour report for this commercial
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Stunning views
Ocean views
Open floorplan
Needs Work
Street noise
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Recently sold nearby 75-5663 Palani Road in Kailua Village

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Frequently asked questions for 75-5663 Palani Road

What is 75-5663 Palani Road?

75-5663 Palani Road is a Commercial/Industrial

How many units does it have?

75-5663 Palani Road has 5 units.

What is the rental income?

The net income is $133,476
*check with agent

What is the full address of this commercial?

75-5663 Palani Road, Kailua Kona, HI, 96740.

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2024 by HiCentral Mls, Ltd. Listing courtesy of Standard Management LLC. Some active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Hawaii House Inc. is a real estate brokerage firm licensed to conduct business in the State of Hawaii. Information deemed reliable, but not guaranteed.

Listings last updated on August 02, 2021.
Hawaii House Last checked 2 minutes ago.

Commercial sold $4,295,000 $4,495,000 75-5663 Palani Road, Kailua Kona, HI, 96740 8,560 sqft Save House Remove from Saved