Panama is strongly committed to the development of Bocas del Toro and maximizing its tourism potential. Bocas has become a very popular tourist destination and experienced some significant growth in the recent years. But, it is still one of the most affordable places to buy real estate in the Caribbean!
This 1401.41 m2 property is located on the west side of Isla Carenero, a short water-taxi ride from Bocas Town, where all the action is. This prime location could be a great opportunity for an investor who is interested in owning a larger hotel maximizing its rental income potential.
The hotel has three stories. Currently, only the bottom floor (that has 7 guest rooms) is being rented. Each one of the spacious rooms comes with a bathroom, AC unit, and a balcony. There is also a reception area, kitchen, bar, and a restaurant/lounge space that offers great views of the Carenero marina and Bocas Town. Large laundry room is located on the ground floor and extra storage rooms on each floor. You will quickly notice the under-utilized spaces here making for a great growth opportunity.
The second floor is in the process of being renovated. When finished, this floor will have 14 additional guest rooms for rent, each one with full bath, AC, and its own balcony.
The third floor is completely open and will allow a new owner to be creative as to how to utilize this large space. Spacious units with full kitchen could be built for long-term rentals or additional regular guest rooms for nightly rentals.
This is a Rights of Possession property (that means no property tax bill) owned by the same corporation for many years. The hotel is on-grid. There is a spacious yard in the rear that accommodates the water collection tanks and could be used to create additional storage space.
Bring your eye for opportunity and let us show you this one!