Description
Overview: The iconic Tantalo Hotel, Restaurant and Rooftop Bar, located in Casco Viejo, Panama City, is available for acquisition for the first time. Casco Viejo is a UNESCO World Heritage Site, with high visibility and easy access from downtown and the Cinta Costera. Tantalo is a central landmark, with unmatched pedestrian and vehicular traffic. Investment opportunity that combines prime real estate with reliable returns. Includes a 10-year renewable lease with the current operator. Property Description: Strategic Location: Located near the entrance to Casco Viejo, two blocks from the Presidential Palace and close to major hubs in Panama City. Concept: First rooftop in Casco Viejo, known for its fusion of art, gastronomy, and entertainment. Frequented by locals and tourists, it is an institution in the area. Design & Legacy: Boutique hotel with nine artistic rooms, each with unique decor and smart technology. Views: The rooftop offers panoramic views of Casco Viejo and the city skyline. Awards and Recognition: Eight design and hospitality awards, ranked among the top 20 places to eat in Panama on Tripadvisor. Financial Summary: Asking Price: $6,300,000 Lease Details: Immediate lease to current operator with an initial income of $450,000 per year, increasing at 2% per year for 10 renewable years. Capitalization Rate: Initial capitalization rate of 7.0%, with expected annual growth. Building Details: Total Area: 14,881 Square Feet (1,382 M²), which includes a ground floor restaurant, hotel reception, lobby bar, and rooftop terrace with panoramic views. Recent Renovations: Complete renovation in 2010 and updated in 2019 with air conditioning systems, water heaters, and kitchen equipment. Investment Advantages: Secure long-term income with an established tenant and outstanding reputation. The location, concept, and lasting appeal make Tantalo a valuable asset in the Panama City real estate market. This is an exceptional investment with secure long-term income from an established tenant with an outstanding reputation. Its location, concept, and lasting appeal make Tantalo a valuable asset in the Panama City real estate market. For more information or to schedule a viewing, please contact us. We guarantee the best service in Panama!
