FOR SALE
$975,000
15 beds 16.0 baths 4,234 SqFt

TITLED LUXURY HOTEL BOCAS DEL TORO PANAMA, BOCAS DEL TORO

Small Businesses For Sale near Bocas del Toro, Bocas del Toro

1st Street Isla Colon, Bocas del Toro, Bocas del Toro 00000

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Anne-Michelle Wand
(303) 532-1996



DETAILS

          Reduced $325,000 for Immediate Cash Sale

The beautiful Hotel Palma Royale is for sale on the main island of Colon, Bocas Del Toro, Panama. This hotel was built by three Americans who fell in love with the Caribbean beach town. As they prepare for retirement, they are ready to transition the property to a new owner. The setting is ideal, located just 10 meters from the sea on the quiet Main Street location. The hotel was built with American standards and has recently been renovated. The property is under Law 8, with a location in a tourist zone, which means you don’t pay property tax for 20 years and corporate income tax for 15 years. The owners spent $2.6M on the lot and construction and they are ready to sell! This is an incredible opportunity for a new owner to continue the operations and grow this boutique hotel business.

The hotel consists of 15 rooms, including 10 suites, 4 standard rooms, 1 penthouse as well as a restaurant that is leased out. The restaurant has excellent service, a friendly staff, and great Italian food. The reviews of the breakfast by guests are nothing short of outstanding. The hotel is beautifully landscaped with local flora throughout. It is in high demand throughout the year, but especially during the months of November to February. One famous boater, Jimmy Buffett has enjoyed the penthouse suite! 

Hotel Palma Royale is ranked as the #3 hotel in Bocas Del Toro and was a 2018 TripAdvisor Traveler’s Choice Award! Read over 400 amazing reviews on TripAdvisor for an average of 4.5 stars! Reviews on Trip Advisor: https://goo.gl/Bl0epZ

The company has experienced a very steady revenue stream and continue to operate with their same management staff in place for the last few years, while the sellers manage the hotel remotely. Full financial details may be provided to well-qualified buyers upon request (with a signed non-disclosure agreement)-along with a free one night stay to get a real feel for the property.

Registered as Titled property----Finca #8018 Lot size 397m2 Hotel enjoys Law #8 in a tourist zone. No property taxes, no income taxes.        

Gross Revenue for Hotel Palma Royale:

  • 2016: $432,772.58
  • 2015: $451,642.20
  • 2014: $507,179.05
 
Masterfully crafted and built to American standards. Resting on 36-inch caissons embedded into 15 feet of bedrock supported by solid steel I-beam construction. Each floor is independently poured slab construction. Steel reinforced 6 inches 2500 PSI concrete. All perimeter walls are wood framed in pressure treated 2x6 pine framing. The roof is in concrete fiberboard in a simulated Spanish style. All water for hotel is sourced from rain collected from the roof along with city water. There is a 7500-gallon cistern built directly into the foundation with complete filtration, UV light, and reverse osmosis system. 3 exterior (3000 or 5000) auxiliary rain collection tanks. All guests are supplied with purified rainwater. Hotel is sided with James Hardy fiberboard siding, and will never rot or warp. All doors and wood finishes are sourced from locally grown red cedar and handcrafted by local artisans. Bathrooms are tiled from floor to ceiling in travertine marble or cut coral.  All exterior windows and doors are German-made double paned of the highest quality. All exterior tile is slip-proof slate. All flooring, including all balconies, are of bamboo, travertine marble or coral. Fully equipped restaurant and bar.  Large work/storage area in rear.   
Bocas del Toro is an Archipelago of Islands in the Caribbean Sea. Bocas Town is located on the main Island, Isla Colon. The hotel is located on the main street of Bocas towards the south end of town in a quiet area, but conveniently within walking distance to all shops, restaurants, and bars. Most restaurants are within a 10-minute walk and next door to the hotel is Super Gourmet, a beautiful gourmet grocery store and deli.
Make this boutique hotel your dream. Schedule your private showing now.
See this web page for more information
http://panamahotelforsale.com/
PROPERTY FEATURES
  • Luxury Hotel

  • Ocean views

  • Law 8 advantages

  • Main street location

  • 10 suites

  • 4 standard rooms

  • 2 bedroom penthouse

  • Huge Price Drop

  • Coastal Property
  • Commercial Property
  • Hotels / Motels
  • Businesses for Sale
  • Restaurant & Bar
PROPERTY DETAILS
  • Street Address: 1st Street Isla Colon
  • City: Bocas del Toro
  • State: Bocas del Toro
  • Postal Code: 00000
  • County: Panama
  • MLS#: 60002-17233
  • Year Built: 2009
  • Courtesy of : United Country Panama Paradise
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