Commercial Beachfront Lot

Ref # : 8-34

Location : Santa Teresa

Price : $ 650,000 Sold

Land Size : 12500 m2 or 3.08 acres

 

Types : Beachfront   Commercial   Lot  

Features : Walking Distance to the Beach   Well  

 

Water : Public + Well

Power : Yes

Access : Public Road

Title : Maritime Zone - No Concession + Titled Part

 

Status : Sold

Date Sold : 05/20/2014

 

Tabu Beachfront Land

Real Estate Description

This large piece of beach front paradise has a park like setting with its many trees and right in front is one of the favorite surf spots in the area!

This is the ideal property for a hotel and more. The location could not be any better and this is one of the best beachfront deals.

The property is divided into 2 different sections:

  1. The beachfront property of 10390 m2 with a wide frontage of 60 meters, zoned for hotel, concession has been applied for and should be granted during 2013.
  2. Titled land on main road, measures 2475m2 and due to the public road bordering the property you are allowed to develop a commercial center with several floors, for example a shopping center on the first floor with offices and stores to rent/sell and apartments on the second floor with great value because of its direct access to the beach and it´s un-obstructive view of the ocean.

The property comes with public water and has a well too.

The land comes with a very valuable liquor license that just by itself is worth around US$50,000.

About the Location

This location is very valuable because it’s right in the middle of town, with many good restaurants, including the beachfront pizzeria, bakery cafe, and cocoloco and howling monkey bars. The white sandy beach in front is a really good place for surfing, boogie boarding, and people-watching.

The downside is that it’s a noisier location when compared with farther north in Santa Teresa or Playa Hermosa. Cocoloco bar/club is open late and there’s loud music, etc. It’s not so close that it would be a huge problem (perhaps 200 meters?) but most buyers for a property like this are looking to build a very peaceful boutique hotel. That could still work, but you’d have to really take into consideration the music and build sound-resistant windows to make sure you didn’t have to deal with complaints from your guests. The right idea and plan for a hotel or bungalows here, with its own beachfront bar and restaurant, would be very successful in this spot.

You will love this location and the land itself… it’s a guaranteed win for a business, but We would suggest coming here at night to check out the noise for yourself to see if it would be a problem for your vision.

Concession Status and History

For years the owners tried to sell this with a few buildings on it, but couldn’t get a concession because one of the buildings was built too close to the river. That particular building was very beautiful and desirable, so anyone wanting to buy the property would have had to tear it down before getting the concession, making it difficult to sell. Finally, the owners made a deal with the municipality, and removed ALL the construction on it! Now the lot has been returned to a very beautiful and pristine state, with a huge flat area right by the beach, ready for construction. It’s literally a blank slate, waiting for your beautiful design to be built.

The municipality has approved the concession (late May 2013), and it has been sent to ICT to get the last stamp.

Property Image Gallery

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