Boutique Hotel in Casco Viejo: A Unique Opportunity

Boutique Hotel in Casco Viejo: A Unique Opportunity

This exceptional building with huge potential for a boutique hotel opportunity is nestled in the heart of Panama City's historical quarter, Casco Viejo. 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 cafés, this location ensures a vibrant atmosphere where it all happens.

The property boasts a prime, Triple 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 a 1,876 sqm development, ideal for a boutique hotel with a restaurant, shop, and rooftop facilities. From the balconies, guests will enjoy stunning views of the ocean, Panama Canal, and Plaza de Francia. The central location offers walking distance to the promenade, landmarks, and plazas, making it a perfect spot for tourists.

Currently, the commercial spaces on the street level are rented, and the upper floors need to be reconstructed. This property, with its commercial spaces currently rented on the street level, offers a promising investment with the upper floors ready for reconstruction. It’s an opportunity to create a boutique hotel that marries historical charm with modern amenities.

Technical Specifications:

• Plot Size: 365 sqm
• Current State: Only facade built
• Development Potential: 1,876 sqm (according to approved architectural plans)
• Zoning: RMH1-C2
• Preservation Category: 3 & 4