Building for sale in the Old Town, Casa Loew, 1,352m² of construction

Description

Location: Corner of 5th Street and B Avenue, Old Town.
Zoning: RMH1-C2
Construction Area: 1,352 m²
Land Area: 353.97 m²
Property Features
• Historic corner building.
• 3-story property.
• 5 commercial spaces on the ground floor.
• 2 apartment levels.
• 1 rooftop terrace level.
• Approved plans for commercial license.
• Appraisal completed in 2023.
• Building for renovation and development.
• Currently vacant, facilitating immediate remodeling.
• Excellent potential for developing a high-end tourism, hotel, or commercial project.
Investment Potential: The current layout allows for a mixed-use project combining commercial spaces with tourist or long-term rental apartments.

The project includes:
• 18 lodging units. • Projected rates starting from approximately $110 per night.
• Rooftop with potential for a restaurant, bar, or event space.
• Excellent location for operating through Airbnb, Booking.com, Hotels.com, or other lodging platforms.

Area Amenities
• Presidential Palace (Presidency of the Republic).
• Plaza Bolívar.
• Plaza de Francia.
• National Theater.
• Interoceanic Canal Museum.
• San José Church (Golden Altar).
• Prestigious boutique hotels.
• Fine dining restaurants.
• Cafes and bars.
• Rooftops.
• Art galleries.
• Museums.
• Supermarkets.
• Pharmacies.
• Banks.
• Easy access to the Cinta Costera, Avenida Balboa, and the Corredor Sur (Southern Corridor).

Ideal for
This property presents an excellent opportunity to develop a boutique hotel, an Airbnb-style tourist apartment project, or an aparthotel, thanks to its prime location in the Old Town and its current layout. It is also ideal for a mixed-use development combining retail and lodging, corporate offices, a gastronomic center, or a heritage restoration project with high appreciation potential. Its versatility makes it an attractive investment for both national and international investors seeking to generate income and capitalize on the area's constant tourism and commercial growth.

Asking Price: $2,000,000