ACQUISITION OF A BOUTIQUE HOTEL

10 ROOMS, 2 RETAIL UNITS, AND ROOFTOP

TOURISM TAX EXEMPTION AVAILABLE

SAN JUAN, PR 00911

$3,500,000.00

The property is constitute as a guesthouse, a legal short-term rental asset just minutes away from; ashford avenue; condado, Isla Verde; Carolina and Old San. It's situated on the biggest gastronomic corridor on San Juan; Calle Loiza. It is also easy walking distance to restaurants, bars, yoga studios, and Ocean Park Beach. Each of the ten suites has been lovingly restored and meticulously maintained- both inside and out. All suites have been renovated with electrical and plumbing systems, fixtures and finishes, lavish furnishings, and impact windows and doors. This property is fully ADA compliant, includes a small lobby, is appropriately licensed for daily rentals, and is fully operational. Re-built in 2022, and the 9,200-square-foo guesthouse presents a myriad of opportunities to serve tourists and some of the fastest-growing communities in Puerto Rico. The property features 10 hotel rooms, 3,050-square-foot retail area, Indoor patio, and 1,700-square-foot rooftop, all of which have been well-maintained by ownership’s capital improvements. All rooms have porcelain tiles and new faucets and toilets. ownership has recently made an array of improvements to the space as well, priming the building for its next chapter. with the commercial kitchen and a liquor license, it could easily suit a nightclub, bar, or restaurant. Tourism Tax Credit revenues could be up to 40% of expenses that can includes Building, Building Improvement, and Furniture & Equipment, and other qualified expenses during the first year of operation. The amount of expenses that is assumed to qualify for the tax credits is $1,000,000.00

Zoning C-2 | Property Type: Hospitality | Property Subtype: Guesthouse | Building Class: B | Lot Size: 271 SM | Building Size: 9,200 sqft. | No. of Rooms: 14 | No. stories: 3 | Year Built/ renovated: 1970/2022 Corridor: Exterior