The real estate is an existing beach front Tourist Hotel located on the Condado Beach area of San Juan, Puerto Rico. The Hotel operates 37 guest rooms (keys) and features a very, very busy and famous beach front Bar and Restaurnat which is popular with Tourist and Locals year round.
The property is on a single lot measuring approximately 677. 53 sq. meters. The improvements consist of a 5-story reinforced concreate building with a gross area of approx. 18,950 sq. feet inclusive of the terraces at the first and fifth floors. Recent renovations and proper maintance contribute to the very excellent condition of the building which may be rated overall as having the look of only 5 to 8 years and an actual age somewhat above 30 years.
The property has an electrial power plant and water storage tanks. All guest rooms have central air condition and are well furnished. Guest Rooms size are comparable to other Hotels within the surrounding market. The property also has an incredable owners Penthouse apartment with two large bedrooms.
A 90%, 10 year goverment tax exemption on all property and income taxes is presently in effect and is transferable to qualified buyer.
The Condado is a well developed densely developed urban upscale neighborhood which displays a wide variety of amenities including numerous branded Hotel chains located throughout . Restaurants, High End Boutiques and Retail Shopping are just some of the thriving business catering to the needs of tourists and residents alike within the Condado.
The property is approximately 10 minutes (5 miles) from Luis Munioz Marin International Airport as well as Isla Verde. Old San Juan, Cruise Ship Port and the New Puerto Rico Convention Center are a short 5 minutes (1.5 miles) away. Contact for more information on this Hotel business for sale.