SLASHED from $265K to $199K, Tierra Magica is a commercial opportunity to get in at the ground level in Puerto Jimenez. This building, one block east downtown main street has a 1500 square foot restaurant and bar, four furnished apartments and three commercial storefronts, plus two smaller spaces without private bathrooms. It is in fact two buildings, one of those two stories sitting on a lot that is fully constructed. At fully capacity rents are $2500. Discounting maintenance and taxes, that gives this real estate option a 6 year payback period and 15% return on investment, just on rents and not counting inflation and the actual value of the real estate and building. With Puerto Jimenez the vibrant hub of Osa Peninsula ecotourism, the local market is receptive of retail commerce, plus furnished apartments are in famously short supply. Tierra Magica premiered on the real estate market several years ago at $335K, the asking dropped to $265K a couple years ago. The owner now lives in San Jose and no longer wishes to maintain and manage from afar. With this new drastic price reduction, now is the time to strike. Don’t hesitate. Call or write today for more information or to schedule your showing.
- Grid Power
- Municipal Water
- Structure description:Restaurant includes kitchen appliances and tables and chairs. Apartments securely located on the 2nd floor of the restaurant building, the 4 apartments are spacious with 80m2 of construction, they consist of 1 bedroom each, living area, kitchen, bathroom and balcony. Two of them are furnished. One of the apartments has A/C (air conditioning) another two have ceiling fans.
- Access: Downtown main street, one block east of Main Street