82-6151 Mamalahoa Highway, Big Island, HI 96704
- $7,500,000
- List Price
- $7,500,000
- Days on Market
- 123
- MLS#
- 202412099
- Status
- ACTIVE UNDER CONTRACT
- Type
- Commercial
- Building
- N/A
- Sq Ft Total
- 26621
- Land Area
- 104,343
- Land Tenure
- FS - Fee Simple
- Neighborhood
- Kealakekua
Property Description
OFFERS DUE JULY 12, 2024! Rare opportunity to buy the Manago Hotel, a fee simple, 64-room unbranded historic hotel with additional commercial space, a home, long-term residential rentals, and Hawaii's oldest restaurant which was the winner of a 2023 James Beard Award. The hotel offers a glimpse into "Old Hawaii," a charm treasured by locals and visitors alike. This property has been established, owned, and operated continuously by the Manago family for over 100 years. The Manago Hotel Restaurant is Hawaii’s oldest restaurant, dating back to 1917. The property is an incredible value-add investment with tremendous upside potential. The current below-market room and commercial rents offer immediate upside, while undeveloped land provides space for desirable new amenities such as a swimming pool or grand lawn. The addition of enhanced food and beverage services and the transformation of an existing bar into a 1920s-themed speakeasy, as well as a modern reservation system, could further increase value. Moreover, the hotel includes additional rooms currently not in use that could be converted into long-term rentals. NOI is proforma. Offering includes two parcels - TMKs:3-8-2-15-19 & 22.
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Additional Information
- Island
- Big Island
- Stories Type
- Two, Three
- Utilities
- Emergency Electricity, Gas, Large Water Meter, Light Electricity
- Easements
- Driveway
- Tenants Responsibilities Include
- Excise Tax
- Elementary School
- Konawaena
- Middle School
- Konawaena
- High School
- Konawaena
- Lot Size
- 104,343
- Construction Materials
- Concrete Block, Wood Frame
- Mls Area Major
- S. Kona
- Neighborhood
- Kealakekua
- Frontage
- Building Lobby, Main Street
- Year Built
- 1917
- Tax Amount
- $1,953
- Building Name
- N/A
- Sewer
- Cesspool
- Roof
- Aluminum/Steel
- Parking Features
- On Site, Unassigned
- Amenities
- Other, Private Restroom, Public Restroom
- Stories
- 3
- Assessed Total
- 2041400
- Assessed Improvement
- 1260300
- Assessed Land
- 781100
- Zoning
- Neighbor Island - See Remarks
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Listing courtesy of Standard Management LLC.
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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