Building for sale in the Old Town, Casa Donovan, 2,475 m² of construction

Description

Excellent investment opportunity in one of Panama City's most promising tourist and commercial areas. The Donovan Building is strategically located on Avenida B, at the edge of the Old Town (Casco Antiguo), a prime location that combines historical appeal with a high volume of national and international visitors.

Currently, the property operates with short-term rental apartments, generating recurring income, and has an approved conversion project that significantly increases its profitability potential.

Location
• Avenida B, Old Town (Casco Antiguo), Panama City

Size
• Construction: 2,475 m²
Property Features
• 4-story building
• 11 apartments currently operating for short-term rentals
• All apartments have balconies
• Fully furnished and equipped with appliances
• 3 commercial spaces on the ground floor
• Approved conversion project for 27 Airbnb-style residential units
• Ideal for investors looking to expand accommodation capacity and maximize return on investment.

Unit Layout
Type A Apartments
• 78 m²
• 1 bedroom
• 2 bathrooms
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $950

Type B Apartments
• 70 m²
• 1 bedroom
• 1 bathroom
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $850

Penthouse
• 168 m²
• 3 bedrooms
• 2 bathrooms
• 2 living rooms
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $1,500

Commercial Spaces
• 3 commercial spaces on the ground floor.
• Typical space size: 60 m².
• Approximate monthly rent: $900 per space. • Excellent potential for long-term rental agreements.

Area Amenities
• Steps from the Old Town.
• Close to the Coastal Strip and Balboa Avenue.
• Easy access to the Southern Corridor and main city thoroughfares.
• Surrounded by restaurants, bars, boutique hotels, plazas, and shops.
• Area with high tourist demand year-round.

Sale Price: $3,800,000