Recently RefurbishedBar Restaurant on SiteCasino and Gym
The property for sale has a usable área of 6,261.12 m2 according to the public record of Costa Rica, which
includes parking spaces in the basement of the building and the hotel operation areas ranging from second floor to the ninth floor. It also includes the parking lot located in NE side of the hotel which is also for sale under as a "Sale-Leaseback" for the hotel use.
The sale includes only the property, at no time is contemplated or offered in this package the sale of the operation of the hotel or its services.
It does not offer any direct or indirect sale of the brand or any of its subsidiaries. Also there is not any offer of any furniture or equipment used for the hotel operations.
All information herein is confidential and is subject to change without notice.
It is the responsibility of each investor to verify all technical, legal, structural, or any other information necessary for the successful sale and purchase of the property.
Description Building Hotel Paseo Colon The property consists of a building with 9 stories and a basement used for parking, divided in 34 condominium properties in total, of which 14 are parking in the basement and the other 20 are distributed from floor 2 to floor 9 for use of the hotel rooms, for a total area of 6,261.12 m2 of condominium property built on a land of 1472.68 m2. The Hotel has 104 rooms, 1 Bar-Restaurant, 2 kitchens, 1 gym, 1 Casino, and 5 meeting/ event rooms. It has a core of three elevators for 10 people each and a service/freight elevator.
The hotel rooms are distributed as follows: 23 Standard Queen 15 Standard King 47 Standard Doubles 4 Premium King 8 Premium Double 4 Premium for Handicaps 2 Family Suites 1 Fitness Suite Recently many areas of the building received a major refurbishment, mainly emphasizing the remodeling and restructuring that was done for levels 2 and 3. These includes general painting, new carpets, placing anti-panic doors at all levels, fire system with alarm, power system reconstruction, overall improvements in air conditioning system, incorporation of multimedia systems in meeting rooms, cabinets and extinguishers, new floors and panels in elevators and boiler room change. At Level 3 there is also an area of new bathrooms and a kitchen. All rooms had carpets changed, floor in bathrooms, doors and frames, cabinet doors, bathroom tile, appliances, light and air conditioning controls were performed.
Lot - Parking
The sale also includes the lot located on the northeast side of the hotel, which is a front corner of 14.65 mts to third avenue and a frontage 48.57 mts to 38th Street (Street that connects to Paseo Colón). It has a total area of 1,216 m2 and its currently used as a public parking which can accommodate 37 spaces. If converted to private parking that number can be increased to 43 spaces. The zoning of the lot is high density, is located in ZC-2 and according to the master plan (Plan Regulador) for San Jose, it allows a CAS of 5.33.
* Asking Price Total Package= $ 15,610,000 - 8.04% cap
**Closing costs: Shared 50-50 between buyer and seller
General Terms of the Lease Agreement:
-Contract Lenght: 15 years