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$ 2,199,999
Est. payment /mo
Active
Sea Tower Calle Del Parque Santa Cruz, 50309
6 Baths
18,298 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 18,298 sqft
Price per Sqft $120
Subdivision Tamarindo
MLS Listing ID CR24739155
Full Baths 6
Year Built 2005
Lot Size 4,791 Sqft
Acres 0.11
Property Description
The Sea Tower building is located in a very desirable location in downtown Tamarindo across from the newly renovated skate park and Saturday market. It has Super Compro as a solid anchor with another 4 years on the lease. The building was built in 2005. It encompasses an estimated 18,300sf (1700sm) and is 100% leased. The basement and first floor are occupied by Super Compro. The second floor and third floors are newly leased to a Hostel that is undergoing a complete remodeing of the interior space. The fourth floor and terrace with an incredible view of the Tamarindo bay is occupied by The Roof restaurant. The Roof's 10 year lease was artificially low due to their building the terrace. It is due for renewal in one year and has potential for a significant rent increase. There are two small kiosks at the front of the building rented out for additional income. Below are the current rent rates and lease renewal dates. Each lease has a 3% to 5% rate increase each year of the contract. There is also an incredible manager that has been managing the building for over 10 years and knows every detail. She could be available for hire for a seamless transition. A new wastewater treatment plant has been installed with the cleaned waste water being discharged to irrigate the skate park across the street. Partial owner financing is potentially available as well.
Location
County Santa Cruz
Interior
Furnishings Furnished
Fireplace No
Exterior
Community Features Elevator
Utilities Available Water Available
Building
Story 4
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Pets Allowed No
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