We have a resort in Panama that we are interested in selling. The property is valued at $1,200,000. There are 7 homes already built and sold on the property which are currently in the rental program.
There are two options for further development on this property.
1.Lots for another 20 homes to be built which can be kept and rented out for a rental income or sold.
2.Lots for another 8 homes and property for 48 motel units consisting of four buildings 3 storeys high with 12 units in each building.
There is also a social area existing including a Classic Rock bar and restaurant, Pool, gym and five commercial shops.
Here is what is included in the resort in Panama:
– 2 one-bedroom, fully furnished homes
– 3 corporations which include one for the ownership and construction of the property, one for the business of the resort and one for the bar
– 17000 sq ft commercial construction of social area
– Business license for construction business
– Business license for bar etc
– Gym and equipment
– 75’X27′ pool
– Bar with equipment
– 5 commercial units for rental
– Area for restaurant and kitchen
– Outdoor showers and bathrooms
– 20 lots for building homes 8 with approvals for second phase
– Large covered area suitable for banquets, conferences and weddings adjacent to pool area
– Rental program with owners of 7 existing homes with 70-30 split. (70% to owners 30% to resort owner)
– Video for sale of homes currently at http://www.connectiontopanama.