For Sale – Casco Viejo Investment Opportunity

News from Panama / Tuesday, August 22nd, 2017
Post Views: 770

Ok first, we discuss investment opportunities in Panama.  Click on the video below and watch!

Here is one such opportunity that I like in my favorite sections of Casco and an great opportunity to renovate a building, lease out the ground floor commercial and live in an apartment with it’s own roof top bar and lounge area!!

Casa Del Baile gets it’s name, Dance House from the dancing court that was originally on the first floor.   It is a two story brick building with magnificent balconies overlooking the street. It has three large arch shape openings to the street allowing to absorb the vibrant atmosphere of Casco Viejo into the house spaces. The vision for Casa del Baile is to restore its stunning facade and bring back its historic charm to life.
The building that I like is perfectly located between two great operations and will benefit from the traffic.   It is located between a hotel and La Rana Dorada a local Cerveceria where they make and serve some of Panama’s best brew.
The house’s location, size and space distribution makes it ideal for high end luxury apartments or as a private residence with a ground floor commercial rental income opportunity. There are 2 commercial spaces in the street level, and 6 apartments. The house can potentially be sold to the hotel across the street or to the distillery when additional space will be required. This is a very common practice in Casco Viejo due to the limited inventory of buildings and growing popularity of the area.
There is also room to further develop the building with a roof top bar.

Casco Viejo, an eclectic mix of Art deco, Caribbean and Spanish Colonial style was designated a world heritage site by UNESCO a few years ago.   There are now regulations in place to ensure the old city maintains it’s integrity and look by limiting the type of construction and modification of its buildings.   Any construction requires approval by the council to ensure the renovation plans meet the requirements.   Facades must be maintained and the heights of the buildings must also remain intact and not be increased.  Developers that focus in this area have done wonderful restorations of beautiful historic buildings choosing to replicate hand painted tiles instead of replacing them with modern tiles.  Facades that were falling apart are now completely restored and resurrected into their original form that reflect the care and attention of the artisans of that period.

Here is the full package Casa Del Baile – for sale

Asking $2,200,000

This could be yours and a trophy property for sure.  For this and other opportunities in Casco, contact me.

For more on Casco, here is a post that I did. Why Panama City’s Casco Viejo Is Latin America’s Most Stylish Destination

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