Iconic Casco Viejo mixed use fully restored building

Highlights:

• Stable tenant with 10 year history
• Appricating location
• High Cap rate
• Top location

Description:

Spectacular fully renovated old city building of over 14,880 sq ft Boutique hotel and restaurant. The building is in a prime location, 2 blocks from the Presidential Palace 5 min from Downtown Panama City, and 35 min from Panama's main airport with direct flights to almost 40 countries.
Casco Viejo is the old colonial quarter of Panama City and is a major tourist area, it is a pedestrian-friendly area of destination restaurants, shops, nightlife, and high-end boutique hotels.
The building is a historic former apartment building that was gut renovated in 2010 into a high-end 9-unit Boutique Art Hotel with a ground-floor restaurant, bar and rooftop bar. The building underwent a second full cosmetic renovation in Nov 2019 with upgraded AC, water heater system, and kitchen Equipment. The current tenant that leases the whole building is doing well and wants to stay for cash flow from day one of ownership of this iconic building.
Floor Plan.

Level 100 Ground Floor- Restaurant, Lobby bar, Hotel reception, Kitchen. 4.408 Sq Ft
Level 200 First Floor- Hotel rooms and conference room.. 3.790 Sq Ft
Level 300. Second Floor- Hotel room and admin office. 3.790 Sq Ft
Level 400. Third Floor. Roofbar Terrace, A/C machinery, storage area. 2.893 Sq Ft

Total Sq Ft. 14.881. Sq Ft.