Reduced Price ! INVESTOR WANTED for Condo Project
Or Buyer Wanted for Land, Restaurant & Rental Units
Caribbean Island Investment Opportunity Located in the heart of Caye Caulker Village, this property is a prime candidate for condo development. Total area is approximately 11,760 square feet or about .27 acres. This is a corner lot and the beach is just over 100 feet away!
The Owners wish to locate & work with an Investor/JV Partner on a condo development project for this property. Phase One will include the construction and sale of 12 condo units, all 2 bed/2 bath, 1100 square feet. Each unit will be sold fully furnished. Views of the Caribbean from the second and third floor condos will be spectacular! The roof top patio will feature an infinity pool and lots of space to lounge, both in and out of the sun. Target price range for the sale of these 12 units will be US$180k to US$199k.
The condo market on Caye Caulker is established but still in its infancy. There is strong demand and inventory levels are low. One project has been completed and sold out. For this project, the preliminary plans have been drawn and the developer (with over 20 years experience) has been chosen.
The right Investor/JV Partner will have US$850,000 to US$1,000,000 to invest. As the project progresses and units are sold, capital will be re-paid to the Investor first. After the capital has been re-paid, 30% of the sale of each of the remaining units will be paid to the investor as ROI. Time frame to completion is estimated at 18 months.
OR... If you have an interest in aquiring this property, the purchase price is US$700k. As mentioned above, it's about .26 acres with 105 feet along Front Street and 112 feet along the side street. The property purchase will include the 'Agave' restaurant and a small, four unit studio apartment building.
I look forward to hearing from you regarding this exciting investment opportunity OR the sale of this property...