Huge potential!Home to the famed Kaumana Caves Inn Bed & Breakfast, this three acre property comes with three homes total and has preliminary approval for a six lot subdivision project.Water entitlements are already in place and construction plans have been submitted for the project, which is transferable to a new owner. A multi-phase appraisal was performed prior to listing and is available upon request.The Kaumana Caves Inn was a highly successful Bed & Breakfast operation prior to the COVID pandemic. Measuring nearly 2,000 square feet with towering open beam ceilings, the home enjoys plenty of natural light and good airflow. Redwood, Ohia and Oak abound throughout this open floor plan. Next door you'll find a dedicated outdoor gym and sauna area that are a hit with guests.Two other rental homes come with the property. Each is a three bedroom, 1,054 square foot Kamaaina-style build with good rental history.Mature landscaping includes Coffee, Lychee, Noni, Avocado, and Mountain Apple trees along with pineapple, lilikoi & other tropical fruits! The property backs into State-owned lands.Located just minutes from Hilo's downtown shopping & market districts and an hour's drive from Waikoloa Village & Kamuela, the property is well-located along the fastest growing coastline in the state of Hawaii.**The current owner has temporarily suspended Bed & Breakfast bookings due to COVID, but the license is transferable. Property is tenant occupied and to be shown by appointment only. Buyers and their agents to verify all details above regarding subdivision potential and transferability of both the subdivision project and Bed & Breakfast permit and any/all project entitlements & construction plans. Documentation available upon request.