Commercial Real Estate Opportunity:
Largest Ocean Side Commercial Center South of Tamarindo
Price: $1,550,000
Building Size: 27,000 SF
Price/SF: $57
Property Type: Mixed use commercial/ residential
No. Stories: 3
Year Built: 2009
Lot Size: 3354 M2 + contiguous 5908 M2 phase 2 development lot
Highlights
- 6 residential condominiums including 2 penthouse units
- 7 commercial units/office spaces; including a 3390 sf supermarket as the anchor tenant (5 year lease) and successful turnkey Restaurant/Bar fully stocked with kitchen equipment
- Spanish Mediterranean architectural style with grand entrance, covered walkways, public amenities and many unique details and finishes
- Basements and mezzanines provide low-cost space and additional storage capacity for commercial units
- Elevator access
- State of the art sewage treatment center
- Professionally manicured grounds with a large courtyard, tropical gardens, ornamental landscaping, fountains, benches…a true community gathering place
- Located next door to “Tierra Pacifica Environmental Estates” an award-winning “green” residential community of 75 single family lots/residences and Clubhouse (Tennis, Gym, large Pool)
- Abundant parking for customers
- Private covered parking bays with individual storage bodegas for each residential condo
- Beautiful newly finished pool with cascading rock wall fountain and hardscaping
- Sale includes an adjacent 1.5 acre phase 2 lot planned and ready for a hotel or residential condo expansion of up to 20 additional units
- Primarily commercial location makes it a great site for 24/7 operations
- Ideal location for Internet based businesses and consultants
- Located next within 15 minutes of many of the best surf breaks in Costa Rica making it an ideal base of operations for a surfer residents or a surfing retreat
- Operating cash flow results and projections available upon request
- Owner financing available
Property Description
Plaza Tierra Pacifica is a 27,000 sq ft mixed use facility space in Playa Junquillal Costa Rica. Built in 2009, the plaza is a three story Spanish Mediterranean style steel reinforced concrete building with 7000 feet of commercial space on the ground floor and 8500 feet of residential condos on the second and 3rd floors. The expansive rear courtyard, pool and gardens abuts an attached development lot included in the sale that is primed for the expansion of the complex up to three times (3x) its current footprint. Plaza Tierra Pacifica is ideally situated for an owner/user: The building has municipal water, high speed DSL connection, state of the art sewage treatment onsite, and is a low maintenance property. The lot includes 15 front parking spaces, and 7 rear employee parking spaces plus another 7 rear covered spaces with private storage bodegas. This is a great deal for any investor or business owner priced at more than 40% below replacement cost.
Expansion Potential
With all infrastructure in place and a 1.5 acre contiguous lot with public road frontage included in the sale, there are multiple expansion options that a new owner might pursue to generate additional revenue and leverage existing amenities to optimize ROI.
These could include an expansion of the existing residential condominiums in a phased build out or fractionalized villas. Another exciting option could be a 15-20 room boutique hotel with westerly ocean views.
Phase 2 Renderings
Click on images to enlarge
