REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 4,400,000
Est. payment /mo
New
Casco Viejo
6,760 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,760 sqft
Price per Sqft $650
Property Description
Investment Retail Space in Boutique Hotel | Casco Viejo
A Landmark Commercial Investment in the Heart of Casco Viejo
Positioned at the corner of Calle 10 Oeste and Avenida San Victoriano, within Panama City's UNESCO World Heritage Site of Casco Viejo, this exceptional commercial property presents a rare opportunity to acquire a prime income-generating asset anchored by one of the district's most anticipated boutique hotel developments.
Offering 628 m² (6,759 sq. ft.) of commercial space, Retail Unit 01 will serve as the flagship retail component of a boutique hotel currently under development, with operations expected to commence in approximately 24 months. The project will feature 35 residences, four curated dining venues, and five lifestyle amenity spaces, creating a destination that blends hospitality, gastronomy, and contemporary luxury in the heart of Panama City's historic district.
The development is led by a highly experienced group with more than 20 years of transforming Casco Viejo into one of the country's premier culinary, cultural, and lifestyle destinations. Adding to the strength of the investment, the retail space has already secured an international restaurant operator, with an established regional presence and a fully negotiated long-term lease agreement, providing investors with immediate income certainty once the project begins operations.
The investment is projected to generate US$300,000 in annual rental income during its first year of operation, representing a 7% capitalization rate, with a 3% annual
contractual rent escalation, resulting in an estimated five-year cumulative rental income of US$1,592,741.
Owners will also benefit from the significant tax incentives available within Casco Viejo, including a 30-year property tax exemption and a 10-year income tax exemption, further enhancing the property's long-term investment performance.
Located just 15 minutes from Panama City's financial district and 20 minutes from Tocumen International Airport, this offering combines a prestigious historic location, institutional-quality income, and the security of a professionally curated mixed-use development.
Asking Price: US$4,400,000
Highlights:
• Asking Price: US$4,400,000
• 628 m² (6,759 sq. ft.) of commercial space
• Flagship retail unit within a new boutique hotel development
• Estimated opening in approximately 24 months
• Development featuring 35 residences, 4 dining venues, and 5 amenity spaces
• International restaurant operator secured
• Long-term lease agreement already established
• Projected Year 1 rental income: US$300,000
• 7% capitalization rate (Cap Rate)
• 3% annual contractual rent escalation
• Projected five-year cumulative rental income: US$1,592,741
• Prime location in UNESCO World Heritage-listed Casco Viejo
• Developed by a group with over 20 years of experience transforming Casco Viejo
• 30-year property tax exemption
• 10-year income tax exemption
• 15 minutes from Panama City's financial district
A Landmark Commercial Investment in the Heart of Casco Viejo
Positioned at the corner of Calle 10 Oeste and Avenida San Victoriano, within Panama City's UNESCO World Heritage Site of Casco Viejo, this exceptional commercial property presents a rare opportunity to acquire a prime income-generating asset anchored by one of the district's most anticipated boutique hotel developments.
Offering 628 m² (6,759 sq. ft.) of commercial space, Retail Unit 01 will serve as the flagship retail component of a boutique hotel currently under development, with operations expected to commence in approximately 24 months. The project will feature 35 residences, four curated dining venues, and five lifestyle amenity spaces, creating a destination that blends hospitality, gastronomy, and contemporary luxury in the heart of Panama City's historic district.
The development is led by a highly experienced group with more than 20 years of transforming Casco Viejo into one of the country's premier culinary, cultural, and lifestyle destinations. Adding to the strength of the investment, the retail space has already secured an international restaurant operator, with an established regional presence and a fully negotiated long-term lease agreement, providing investors with immediate income certainty once the project begins operations.
The investment is projected to generate US$300,000 in annual rental income during its first year of operation, representing a 7% capitalization rate, with a 3% annual
contractual rent escalation, resulting in an estimated five-year cumulative rental income of US$1,592,741.
Owners will also benefit from the significant tax incentives available within Casco Viejo, including a 30-year property tax exemption and a 10-year income tax exemption, further enhancing the property's long-term investment performance.
Located just 15 minutes from Panama City's financial district and 20 minutes from Tocumen International Airport, this offering combines a prestigious historic location, institutional-quality income, and the security of a professionally curated mixed-use development.
Asking Price: US$4,400,000
Highlights:
• Asking Price: US$4,400,000
• 628 m² (6,759 sq. ft.) of commercial space
• Flagship retail unit within a new boutique hotel development
• Estimated opening in approximately 24 months
• Development featuring 35 residences, 4 dining venues, and 5 amenity spaces
• International restaurant operator secured
• Long-term lease agreement already established
• Projected Year 1 rental income: US$300,000
• 7% capitalization rate (Cap Rate)
• 3% annual contractual rent escalation
• Projected five-year cumulative rental income: US$1,592,741
• Prime location in UNESCO World Heritage-listed Casco Viejo
• Developed by a group with over 20 years of experience transforming Casco Viejo
• 30-year property tax exemption
• 10-year income tax exemption
• 15 minutes from Panama City's financial district
Listed by Liliana Plata • Engel & Völkers Panama City
NEARBY SCHOOLS & PROPERTIES
GET MORE INFORMATION