Infill urban mixed-use development project, shovel ready. Fronts both Queen Ka'ahumanu and Kuakini Highways. Includes five parcels of land (3/7-5-17:001; 039; 19; 23; & 26 zoned CN-20 [commercial]; RM-2.5 [multi-family residential]; and A-5a [agricultural] respectively). Master plan and Zoning Ordinances call for 226 affordable rental units; 160 market priced units (For Sale or Rental); and up to 74,600sf of commercial space on two parcels. Remaining two parcels need re-zoning, or can be used for Ag purposes. Sale includes 510 water credits, archeological reports, plans, and permits. Long-time owners and sellers are estate planning and have priced this project TO SELL at almost $4,000,000 BELOW ASSESSED VALUE!! PLUS the property is in the Kona OPPORTUNITY ZONE!! Rare opportunity for development of great mixed use project in the middle of Kona's Golden Corridor, halfway between Kailua-Kona Village and Keauhou Resort, the sweet spot of the Kona District. High barrier to entry market, strong demand for both Rental and For Sale housing, great demographics in this neighborhood. As good as it gets!! More details and info available.
Listing courtesy of Pacific Realty Organization LLC.
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