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Wailuku Market Street Vacant Land
  • Category:

    Land

  • Location:

    Wailuku

  • Address:

    158 N. Market Street Vacant Land with adjacent parcel included
    1987 Olu Drive (adjacent parcel)

  • Price:

    $795,000.00 FS

  • Area:

    8,808 Sq. Ft.

  • CAM:

    Not Specified

  • Currently Occupied?:

    No

Wailuku Market Street Vacant Land

FOR SALE

THIS LAND SALE INCLUDES THE ADJACENT LAND PARCEL AT 1987 Olu Drive consisting of 2816 square feet / .065 acres. THE POSSIBILITIES ARE ENDLESS. MEET WITH OUR LAND PLANNER AND LANDSCAPE ARCHITECT TO DISCUSS THESE GREAT POTENTIALS. This parcel is rare because it offers rear access through the alley which allows on-site parking. There is street parking on adjacent streets as well. Between 1 and 2 blocks is public off street parking on both sides of the street. Commercial or multi-family use, on the most prestigious street in downtown Wailuku. Right in the heart of the county redevelopment zone. Be inspired by attending a Waiuku Community Meeting which is one example of the tight
knit flavor of the local environment. Gather with people you never met before at the quaint coffee shops. Browse through the quaint shops with items of yesteryear you will remember and sold at sensible prices.

This property is in the rapidly growing central part of Maui. It is close to federal, state and county buildings, schools, shopping, services, church, hospital, doctors, groceries and eating establishments.

The old and well known historic IAO Theatre is here. Create your business opportunity in this revived community which attracts an array of visitors.
ALL DIMENSIONS ARE APPROXIMATE

Tax Information: Assessment: 2018: Land: $289,000
Monthly Taxes: 175.17

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CHARM AND ROMANCE COME ALIVE WITH THE 4 STORY ZONING POTENTIALS. ENJOY THE SCENIC VIEW FROM THE POTENTIAL 3RD AND 4TH FLOOR PENTHOUSE WITH A SPIRAL STAIRCASE. IDEAL FOR A LIVE/WORK OCCUPANCY BY A PROFESSIONAL AND OFFICE AND RETAIL SPACE BELOW.

ZONING INFORMATION MADE SIMPLE:

1. Both properties do not have "B" or "R" Designations. They are considered as "Business-Multi-family. You may verify zoning at the zoning department at (808)270-7253. You might also contact zoning at (808)270-7180. The zoning has been changed in 2018.

2. On the 158 Market Street property, the setback requirements are as follows:

1 to 2 stories No setback requirements
3 stories 10 feet
4 stories 20 feet

3. On 1987 Olu Drive, the setback requirements are:

1 to 2 stories 6 feet
3 stories 10 feet
4 stories 20 feet

Parking may be on the first floor level and parking in the back may remain.

Contact listing agent for potential building and land use possibilities

CAPITALIZE ON THE WAILUKU REDEVELOPMENT AREA, PROJECT POTENTIALS: It should be a strong, economic driver for the area.

1. A 438 stall parking structure at $.50 per hour or a $25 a month permit.

2. 7,510 square foot festival plaza and 5,500 square foot covered lanai.

3. Community gathering space designed for outdoor dining, performances, food trucks and a relaxed atmosphere.

4. Consideration in raising $435,000 in leases, rentals and saved rent from the county offices.

5. Considering raising Wailuku Town's current four-story height to a six-story height limit.

6. Three blocks of upgraded water and sewer lines, new storm drains, underground power and utilities, and new sidewalks and road surface at an expense of $9.7 million.

7. A ground-level plaza space designed for community festivals and cultural celebrations, and rentable for public events.

8. 1,000 square feet on the ground floor interior for cultural and historic exhibit space.

9. A third-floor rentable community pavilion designed for events for local families and organizaltions. It has a 2,500 square foot open air event deck.

10. A high tech, 150-seat public hearing room and space for community groups in the evening.

11. Ground floor retail space.

12. County of Maui office space.


Posted: February 6, 2019 at 8:24 PM



Saul P. Larner Ph.D.,LL.M./, MBA, CIPS, CRS,SRES,ABR, RSPS,

SP LARNER | www.splarner.realtor

590 Lipoa Parkway #217
Maui Researh and Technology Park
Kihei, HI 96753

[email protected]

Office: 808.649.8318
Cell: 310.867.4840