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Turnkey Aparthotel Project For Sale

Location  Panama
Asking Price Range  $500K - $1.0M
Gross Revenues  $0
Net Profit / Cash Flow  $0
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Not Disclosed
Year Established  2012
Number of Employees  1 - 3
Relocatable  No
Number of Employees  1 - 3
Real Estate  Owned
Description  Pedasi is a touristic coastal town in the Azuero Peninsula which has seen a significant growth during the last ten years. The quaintness of the town, the natural beauty of the countryside and the friendliness of the people are attracting an increasing number of visitors from around the world. Some of Hollywood's biggest stars like Mel Gibson, Brad Pitt, and Angelina Jolie have been seen visiting the area. This 550m2, story apart/hotel counting six units will be built close to the center of town. It has a small back patio where either a small dipping pool or Jacuzzi will be available for guests to cool off and socialize. The building will include a commercial unit conceived for a food establishment in its front. Several serious candidates have already expressed interest in the unit. On the lodging side, the units range from 25m2 to 55m2 and come completely furnished (furniture already purchased and in storage). The colonial architecture of the building with ceramic tiles and traditional red tile roof integrates perfectly in the environment. Construction is scheduled to begin in July 2012; the project should be completed by January 2013. The construction is financed by a local bank which has valued the finished apart/hotel at $670,000. What makes this project very interesting is the fact that it was conceived to be built for a group a investors who would retain ownership of the units. The concept was well thought and attention to quality is a main objective. Another interesting feature is the fact that there are no other apart/hotels in the area. Tourists visiting Pedasi are very limited as to where they may stay; this apart/hotel would provide them an ideal solution. Rooms could rent for $50 to $70 nightly (up to $500/month) with higher rates during high season and holidays. The apart/hotel will be transferred to the new owner finished, furnished with all licenses and authorizations.
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