Boutique Hotel in Casco Viejo: A Unique Opportunity
This exceptional building with enormous potential for a boutique hotel is located in the heart of Panama City's historic Casco Viejo district. Recognized as a UNESCO World Heritage Site, this area is a magnet for tourists and locals alike, known for its rich historical, cultural, and economic significance. Surrounded by the most popular clubs, bars, restaurants, and cafes, this location guarantees a vibrant atmosphere where everything is happening.
The property boasts a prime AAA location on a quiet, renovated, and friendly street. The iconic building features 48 arches on its facade, adding to its charm and character. Approved plans allow for the development of 1,876 m², ideal for a boutique hotel with a restaurant, shop, and rooftop facilities. From the balconies, guests will enjoy breathtaking views of the ocean, the Panama Canal, and Plaza de Francia. The central location offers easy walking distance to the seafront promenade, monuments, and squares, making it a perfect spot for tourists.
Currently, the street-level retail spaces are leased, and the upper floors require renovation. This property, with its currently leased street-level retail spaces, presents a promising investment opportunity, with the upper floors ready for redevelopment. It's a chance to create a boutique hotel that blends historic charm with modern amenities.
Technical Specifications:
Site Size: 365 m²
Current Status: Only facade built
Development Potential: 1,876 m² (based on approved architectural plans)
Zoning: RMH1-C2
Order: 3 & 4
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