Transworld Business Advisors is listing the historic restaurant and 2.69-acre property, located on Greater Fort Lauderdale’s heavily trafficked Federal Highway.
Transworld Business Advisors, the nation’s largest business brokerage firm, announces that the Mai-Kai Restaurant, one of South Florida’s most iconic attractions, is available for acquisition or joint-venture development. Situated on 2.69 acres of prime real estate in Greater Fort Lauderdale’s Oakland Park, the Mai-Kai Restaurant and Polynesian Show has long been beloved for its one-of-a-kind dining and entertainment experience that transports guests to the South Seas and a bygone era.
“The sale, or joint-venture development of the Mai-Kai represents a rare opportunity to own a storied piece of South Florida history,” said Transworld Business Advisors CEO Andrew Cagnetta. “Not only does the restaurant have a loyal following developed over decades in business, but its premier location also offers excellent exposure on the heavily trafficked main artery of Greater Fort Lauderdale hotspot Oakland Park.”
An enviable investment opportunity, the 2.69-acre property can remain as is, or can be redeveloped into apartments or a mixed-use development which could include a renovated restaurant. The Mai-Kai’s ownership is open to working with the buyer on reopening the restaurant — currently closed for necessary renovations — or opening an offshoot in a new location, complete with the registered trademarks for its famed cocktails.
Opened in 1956 by Bob and Jack Thornton, and still operated by the same family, the Mai-Kai is among a select few South Florida sites on the U.S. National Register of Historic Places, noted for being one of the last remaining Polynesian-themed restaurants in the state. Today, the Mai-Kai maintains its authentic vintage ambiance in an expansive complex spanning eight dining rooms with seating for 600, a bar, gift shop, and a central stage for its popular Polynesian Islander Revue floor show.
No detail is overlooked in the attraction’s design, from the wooden plank bridge entrance to the authentic thatch roof. Lush tropical walking paths feature cascading waterfalls, lagoons, hand-carved tiki sculptures, and flaming torches. The Mai-Kai’s authentic entertainment spectacle, complete with genuinely choreographed routines from several islands of Polynesia and a Samoan fire knife dance, is considered the longest-running Polynesian show in the U.S.
The biggest draw of all may be the Mai-Kai’s Molokai Bar and its 57-variety specialty drink menu, unchanged since the restaurant’s opening. Designed in the likeness of a turn-of-the-century seaport saloon, the intimate, ship-lantern-lit space is staffed by sarong-clad maidens bearing Barrel O’Rum, Black Magic, and other expertly crafted tropical beverages — several of which are proprietary.
In addition to boasting a loyal fan base, the Mai-Kai has been recognized with a bevy of accolades, including Best Dining Entertainment and Best Unique Dining Experience. The restaurant has been named one of America’s Top 100 Independent Restaurants by Restaurants & Institutions, and Coastal Living magazine ranked the Mai-Kai No. 1 on its listing of best tiki bars in the U.S.
“The Mai-Kai has been a family-run business since its inception,” said Tiare Thornton Bugarin, the granddaughter of the founder. “From choreographing the Polynesian show to overseeing, a descendant of the Mai-Kai’s founders has always been involved. As the page turns to a new chapter in its unique story, we welcome the opportunity to lend our expertise and play a role in the Mai-Kai’s future.”
The sale or joint-venture of the Mai-Kai, overseen by Transworld Business Advisors, represents an unprecedented opportunity to own a world-renowned historic landmark in a highly desirable area. Located at 3599 N. Federal Highway, the site is situated on the main artery of the dynamic City of Oakland Park, part of the Greater Fort Lauderdale, Fla., submarket. With over 300 linear ft. of frontage on busy Federal Highway, the property offers prime exposure.
About Transworld Business Advisors: Established in 1979, Transworld Business Advisors is the world’s largest business brokerage firm with 250 offices in 40 states and 17 countries. With over 700 of brokers, Transworld Business Advisors offers the professional services that successfully bring buyers and sellers together. Transworld Business Advisors has been awarded several accolades, including Entrepreneur’s Franchise 500, Ernst & Young Entrepreneur of the Year, Entrepreneur Magazine’s Fastest Growing Franchise, and Franchise Times 200. For more information, visit www.tworld.com.
