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$ 600,000
Est. payment /mo
New
Casco Viejo
1,109 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,109 sqft
Price per Sqft $541
Property Description
An Exceptional Café Investment in the Heart of Casco Viejo
Located at the corner of Calle 10 Oeste and Avenida San Victoriano, within Panama City's UNESCO World Heritage Site of Casco Viejo, this unique commercial opportunity offers investors the chance to own a prime hospitality asset within one of the district's most anticipated boutique hotel developments.
Offering 103 m² (1,109 sq. ft.) of commercial space, Retail Unit 03 occupies a prominent ground-floor location with a historic terrace, serving as the first point of interaction for hotel guests, neighborhood residents, and international visitors. The boutique hotel, currently under development and scheduled to open in approximately 24 months, will feature 35 residences, four curated dining concepts, and five lifestyle amenity spaces, creating a vibrant destination in the heart of the historic district.
Developed by a group with more than 20 years of experience transforming Casco Viejo, the space has been envisioned for a specialty coffee shop and artisan bakery, offering breakfast, brunch, and all-day service in a high-frequency operating model designed to encourage repeat visits and operational efficiency. Its dual access, from both the street and the hotel lobby, ensures continuous customer flow throughout the day.
Enhancing its appeal, one side of the property faces a charming cobblestone street with ocean views, creating the opportunity for outdoor seating and an inviting café atmosphere that blends seamlessly with the architectural heritage of Casco Viejo while maximizing customer engagement.
The investment is projected to generate US$41,000 in annual rental income during its first year of operation, representing a 6.8% capitalization rate, with a 3% annual contractual rent escalation, resulting in an estimated five-year cumulative rental income of US$217,675.
Owners will also benefit from Casco Viejo's highly attractive tax incentives, including a 30-year property tax exemption and a 10-year income tax exemption, further enhancing the long-term value of the investment.
Just 15 minutes from Panama City's financial district and 20 minutes from Tocumen International Airport, this offering combines a strategic location, heritage architecture, strong commercial fundamentals, and an exceptional hospitality-driven concept.
Asking Price: US$600,000
Highlights:
• 103 m² (1,109 sq. ft.) of commercial space
• Approximate price: US$5,825/m²
• Prime ground-floor location with historic terrace
• Dual access from the street and hotel lobby
• Side frontage along a cobblestone street with ocean views
• Opportunity for outdoor café seating
• Boutique hotel opening in approximately 24 months
• Development featuring 35 residences, 4 dining venues, and 5 amenity spaces
• Designed for a specialty coffee shop and artisan bakery
• Ideal for breakfast, brunch, and all-day dining
• High-frequency operating concept with strong repeat customer potential
• Projected Year 1 rental income: US$41,000
• 6.8%
Located at the corner of Calle 10 Oeste and Avenida San Victoriano, within Panama City's UNESCO World Heritage Site of Casco Viejo, this unique commercial opportunity offers investors the chance to own a prime hospitality asset within one of the district's most anticipated boutique hotel developments.
Offering 103 m² (1,109 sq. ft.) of commercial space, Retail Unit 03 occupies a prominent ground-floor location with a historic terrace, serving as the first point of interaction for hotel guests, neighborhood residents, and international visitors. The boutique hotel, currently under development and scheduled to open in approximately 24 months, will feature 35 residences, four curated dining concepts, and five lifestyle amenity spaces, creating a vibrant destination in the heart of the historic district.
Developed by a group with more than 20 years of experience transforming Casco Viejo, the space has been envisioned for a specialty coffee shop and artisan bakery, offering breakfast, brunch, and all-day service in a high-frequency operating model designed to encourage repeat visits and operational efficiency. Its dual access, from both the street and the hotel lobby, ensures continuous customer flow throughout the day.
Enhancing its appeal, one side of the property faces a charming cobblestone street with ocean views, creating the opportunity for outdoor seating and an inviting café atmosphere that blends seamlessly with the architectural heritage of Casco Viejo while maximizing customer engagement.
The investment is projected to generate US$41,000 in annual rental income during its first year of operation, representing a 6.8% capitalization rate, with a 3% annual contractual rent escalation, resulting in an estimated five-year cumulative rental income of US$217,675.
Owners will also benefit from Casco Viejo's highly attractive tax incentives, including a 30-year property tax exemption and a 10-year income tax exemption, further enhancing the long-term value of the investment.
Just 15 minutes from Panama City's financial district and 20 minutes from Tocumen International Airport, this offering combines a strategic location, heritage architecture, strong commercial fundamentals, and an exceptional hospitality-driven concept.
Asking Price: US$600,000
Highlights:
• 103 m² (1,109 sq. ft.) of commercial space
• Approximate price: US$5,825/m²
• Prime ground-floor location with historic terrace
• Dual access from the street and hotel lobby
• Side frontage along a cobblestone street with ocean views
• Opportunity for outdoor café seating
• Boutique hotel opening in approximately 24 months
• Development featuring 35 residences, 4 dining venues, and 5 amenity spaces
• Designed for a specialty coffee shop and artisan bakery
• Ideal for breakfast, brunch, and all-day dining
• High-frequency operating concept with strong repeat customer potential
• Projected Year 1 rental income: US$41,000
• 6.8%
Listed by Liliana Plata • Engel & Völkers Panama City
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