Want to buy a tiki legend? The historic Mai-Kai restaurant is up for sale
For generations of South Floridians, the historic Mai-Kai Restaurant in Fort Lauderdale was a blazing tiki torch of joy, with giant boozy rum drinks, a beloved funky bar and hip-shaking, knife-spinning Polynesian shows every night.
Now, the landmark is up for sale.
The owners of the restaurant, which was opened in 1956 by Bob and Jack Thornton and was added to the National Register of Historic Places in 2014, are selling the property, according to the Sun Sentinel.
The Mai-Kai tried to weather the 2020 COVID-19 pandemic shutdown by serving to-go vats of its famous Barrel O’ Rums and other drinks. But the restaurant closed in late October after a flood damaged the property during a tropical storm.
At the time, the restaurant cheerily reassured its patrons the closure was temporary. But the damage was too extensive to easily fix, the Sun Sentinel reported. An employee told the newspaper in December that the entire roof had to be replaced. Support walls had to be fixed and the kitchen, full of damaged equipment, had to be demolished and rebuilt.
The Mai-Kai’s future is uncertain. New owners could choose to renovate the restaurant or redevelop it into something else entirely. Broward County property records show the building is worth around $3.97 million, and the land is valued at $570,000.
The restaurant released a statement announcing it had engaged Transworld Business Advisor to find a buyer or joint venture partner.
“There are many moving parts to the incredibly valuable Mai Kai legacy, intellectual property and future business possibilities. We are working towards continuing the Mai-Kai legacy,” it said.
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 in a statement. “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.”
This story was originally published January 21, 2021 at 2:36 PM.