LAHAINA - That's pretty tight, as all three units are very different. Suite 203 is the lowest priced unit at only $327,000 for 858 rentable square feet of space (compared with the original price of $479,000). Suite 101 is a ground floor corner unit with 1,331 rentable square feet of space and is priced at $488,000 (compared with the original price of $716,000). Unit 302 is a third floor unit with a great ocean and Lanai view priced at $372,000 for 949 rentable square feet of space (compared with the original price of $572,000).
Units 201 and 202 are in escrow. This owner-user is a well-established local dentist, and will join Keawe Business Center's top quality mix of businesses, including a credit union, financial services company, physical therapist, insurance agency, architect, administration offices for TS Restaurants, real estate brokerage, transportation company, and a private office user.
I've been saying for some time now that your opportunity to own your office space at a price far below replacement cost will end soon. When these last three units are gone, so goes this opportunity. So, if you've been thinking about owning your office space, it's time to call.
Ask for a free Keawe Business Center Net Cost of Buying cost/benefit analysis and you will see:
Your interest expense is far less than rent. With commercial banks' mortgage interest at around 4 percent and SBA at 4.61 percent, your interest expense on a 90 percent SBA 504 loan is far less than rent. This alone is a reason to buy your office space at Keawe Business Center.
You only need 10 percent down payment, and you can finance your improvements.
Tax savings from depreciation is yours, and not your landlord's.
You don't pay general excise tax on your mortgage payment.
You are no longer subjected to future rent increases.
You will accumulate significant equity through your mortgage payments for yourself and not your landlord.
Future appreciation is yours. Prices are at least 25 percent below replacement cost, so when the market normalizes, you could see a large increase in value.
As a bonus, these remaining units have a permitted restroom, which will save you over $10,000. Invest in your future - as an owner, you will have more control when you're ready to sell your business or retire.
Call Mario Cardone, principal broker of CardOneRealty Corp. and subagent of Peake & Levoy LLC, at 276-8132 for a private showing. More information is available at www.mauicommercialproperties.com or e-mail firstname.lastname@example.org.