Mai-Kai Polynesian Restaurant, the iconic destination in Oakland Park, is available for acquisition or joint-venture development by brokerage firm Transworld Business Advisors.

Known for its cocktails, and Polynesian show, the restaurant sits on 2.69 acres, which can be redeveloped. 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. The restaurant, which is on the U.S. National Register of Historic Places, features eight dining rooms with seating for 600, a bar, gift shop, and a central stage for its popular Polynesian Islander Revue floor show.

“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.”

Opened in 1956 by Bob and Jack Thornton, and still operated by the same family, the Mai-Kai is on the U.S. National Register of Historic Places and has long drawn audiences with what is considered to be longest-running Polynesian show in the U.S. Guests also enjoy 57-variety specialty drink menu at the Mai-Kai’s Molokai Bar. 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 Mai-Kai is located at 3599 N. Federal Highway. For informationn, contact Peter Berg, Transworld Business Advisors, at 954-224-3144 or pberg@transworldma.com.