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1-OFF MACADAMIA NUT Road - 121 Acres Tropical Nut & Fruit Trees Hawaii, Keaau, HI

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1-OFF MACADAMIA NUT Road - 121 Acres Tropical Nut & Fruit Trees Hawaii

Keaau, HI 96749 - Hilo/East Big Island Submarket

Property Type:Land Parcel Size:121.05 Acres
For Sale Price:$2,100,000 Price/Acre:$17,348 Price/SF:$0.40

Proposed Use:Commercial

On-Site Improv:Rough graded

Sale Notes:
Income producing, professionally managed, mature Macadamia Nut with Lychee, Mangosteen and Longan orchards on 121.05 acres of fee simple land. The low elevation, close proximity to the coastline with higher temperatures and insolation (solar radiation received) makes for high yields from tropical fruit and nut orchards. Property has a well in place and the lychee are being irrigated.

This 121 acre orchard, priced at $2,100,000, is located about 10 miles from Hilo. It consists of about 67 acres planted in macadamias (close to 4700 trees), about 22 acres planted in tropical fruit ( 370+ lychee, 90 longan and 300 mangosteen trees) and about 32 acres of undeveloped land.

Buyer to assume the nut purchase and farming contract on the Macadamia Nut orchards. Currently the lychee are being farmed and harvested by third parties contracted by the owner. These contracts are on a season to season basis and new owner may choose to enter into other arrangements including farming and marketing themselves.

Tree crops are considered an improvement and may be depreciated for tax purposes on shorter schedules than buildings. Some owners have used depreciation schedule of 5 to 15 for calculation of net taxable income. Prospective purchaser should discuss with a tax attorney or CPA who has expertise in orchard ownership accounting and tax law when considering the purchase of a producing orchard.

Joel K. LaPinta, CCIM
Joel LaPinta
(808) 961-0161

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