Manago Hotel | 82-6151 Hawaii Belt Rd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Manago Hotel 82-6151 Hawaii Belt Rd
42 Room Hotel Captain Cook, HI 96704 $6,500,000 ($154,762/Room)
Investment Highlights
- Unbranded hotel with flexible management options
- Multiple underutilized spaces provide opportunities for conversion
- Opportunities to boost revenue through strategic partnerships
- Significant potential to elevate Average Daily Rate (ADR)
- Potential to expand the commercial laundry area
- Untapped potential in utilizing abundant vacant land
Executive Summary
Standard Commercial has been selected to serve as the exclusive advisor for the sale of the fee simple interest in the renowned Manago Hotel. Located just minutes from Kona in Captain Cook, Hawaii, this historic 64-room unbranded boutique hotel features a 2023 James Beard Award-winning restaurant and breathtaking ocean views.
HISTORIC SIGNIFICANCE AND UNIQUE CHARM | For the first time on the market, the Manago 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, preserving its unique historical allure. The Manago Hotel Restaurant is Hawaii’s oldest restaurant, dating back to 1917.
VALUE-ADD INVESTMENT WITH TREMENDOUS UPSIDE POTENTIAL | The Manago Hotel presents a significant investment opportunity with vast potential for revenue growth and property enhancement. The current below-market room and commercial rents offer immediate upside potential, while undeveloped land provides space for desirable new amenities such as a swimming pool and grand lawn. The addition of enhanced food and beverage services and the transformation of an existing bar into a 1920s-themed speakeasy could further increase the property’s value. Moreover, the hotel includes additional rooms currently not in use that could be converted into medium or long-term rentals.
STRATEGIC ENHANCEMENTS FOR REVENUE GROWTH | Meticulously maintained over the years, the hotel’s appeal and financial performance could be significantly boosted by updating it with rustic finishes that reflect its historic character and implementing a modern online marketing and reservation system.
This offering represents a unique investment opportunity to enhance a piece of Hawaii’s history, establishing the Manago Hotel as the premier boutique hotel epitomizing “old Hawaii”.
HISTORIC SIGNIFICANCE AND UNIQUE CHARM | For the first time on the market, the Manago 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, preserving its unique historical allure. The Manago Hotel Restaurant is Hawaii’s oldest restaurant, dating back to 1917.
VALUE-ADD INVESTMENT WITH TREMENDOUS UPSIDE POTENTIAL | The Manago Hotel presents a significant investment opportunity with vast potential for revenue growth and property enhancement. The current below-market room and commercial rents offer immediate upside potential, while undeveloped land provides space for desirable new amenities such as a swimming pool and grand lawn. The addition of enhanced food and beverage services and the transformation of an existing bar into a 1920s-themed speakeasy could further increase the property’s value. Moreover, the hotel includes additional rooms currently not in use that could be converted into medium or long-term rentals.
STRATEGIC ENHANCEMENTS FOR REVENUE GROWTH | Meticulously maintained over the years, the hotel’s appeal and financial performance could be significantly boosted by updating it with rustic finishes that reflect its historic character and implementing a modern online marketing and reservation system.
This offering represents a unique investment opportunity to enhance a piece of Hawaii’s history, establishing the Manago Hotel as the premier boutique hotel epitomizing “old Hawaii”.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $6,500,000 | Building Size | 26,621 SF |
| Price Per Room | $154,762 | No. Rooms | 42 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 1917 |
| Property Subtype | Hotel | Parking Ratio | 0.53/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 2.04 AC |
| Price | $6,500,000 |
| Price Per Room | $154,762 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.04 AC |
| Building Size | 26,621 SF |
| No. Rooms | 42 |
| No. Stories | 3 |
| Year Built | 1917 |
| Parking Ratio | 0.53/1,000 SF |
| Corridor | Interior |
Amenities
- Balcony
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 42 | $130.00 | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,260,300 | |
| Land Assessment | $781,100 | Total Assessment | $2,041,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$781,100
Improvements Assessment
$1,260,300
Total Assessment
$2,041,400
zoning
| Zoning Code | CV-10 (CV-10 - Village Commercial District CN-7.5 (parking)) |
| CV-10 (CV-10 - Village Commercial District CN-7.5 (parking)) |
1 of 40
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Manago Hotel | 82-6151 Hawaii Belt Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.