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Listed by Standard Management LLC
$ 4,750,000
Est. payment /mo
Active Under Contract
82-6151 Mamalahoa HWY Captain Cook, HI 96704
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Kealakekua
MLS Listing ID 202601722
Construction Status Good Condition
HOA Y/N No
Year Built 1917
Annual Tax Amount $23,822
Property Sub-Type Industrial
Property Description
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.
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.
Location
State HI
County Hawaii
Community Other
Area S. Kona
Interior
Cooling None
Flooring Concrete, Wood
Fireplace No
Exterior
Parking Features On Site, Unassigned
Community Features Other
Utilities Available Electricity Available, Natural Gas Available
Building
Story 3
Entry Level Two,Three Or More
Sewer Cesspool
Level or Stories Two, Three Or More
Construction Status Good Condition
Others
Tax ID 3-8-2-015-019-0000
Special Listing Condition None
