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The entire property consists of 3 full ownership lots that have the potential for expansion or building of rental condominiums. Take advantage of this opportunity to live in the tropics, semi-retired, and run your own thriving business. Strong financials and excellent return on investment. Good ROI. "DOWNLOAD DOCUMENT" ABOVE.
CLICK ON> CERRITO TROPICAL INSTAGRAM
CURRENT DESCRIPTION AND USE OF PROPERTY
Currently, Cerrito Tropical Bed and Breakfast Lodge offers relaxed family-style accommodations, a restaurant, plus the popular, beachside Calaloo Fishbar & Grill restaurant at Playa Honda Beach. All rooms have a flat-screen TV and access to private or shared balconies, and include air conditioning, fans, and a private bathroom with a shower. Some rooms have a direct sea view. There is a total of six rooms and a dormitory for small groups. Free WiFi access is available for guests. And now...a new plunge pool and a wood-fired brick pizza oven. Plus...the latest addition is a Polaris 4 passenger vehicle with room for bags...and a Motor Scooter for quick trips and deliveries. At B&B Inn Cerrito Tropical you will find a tropical garden and a terrace with ocean views. The property is a 3-minute walk from the beach. There is also an excellent bay for your own boat mooring.
The property consists of 3 lots covering approximately 905 m². Besides the opportunity the to expand the building, an investor could add condominium units. Architects renderings for additional apartments on original building including owners’ residence, and architect’s renderings for future condominiums on empty lot are available. Located in a good neighborhood, with 5 other tourism rental properties nearby, one of them a 5-star villa The property is covered with pineapple plants, bananas, plantains, papaya, lime, aloe, coconut, oregano, and more. Cerrito Tropical has a well, 4 reserve water tanks totaling 2100 gal (8000 liters), plus a rainwater system, and the island's new water filtration system provides continuous pure water.
ADDITIONAL POSSIBILITIES FOR PROPERTY
- Rental Property. The owner can live in the upper floor suite with sweeping ocean vistas, and rent 5 apartments with the option of adding an additional unit. There is also an apartment suitable for employees, caretaker, maid. A pool or spa could easily be added to enhance the property.
- Establish the property as a fishing lodge. The cost of fishing outings out of Panama City and exclusive Panama fishing resorts can be very expensive. At Taboga there are no mooring fees, and there are moorings just down the hill from Cerrito Tropical. Historically, Taboga has been a fishing island and has a base of experienced local fishing guides.
- A concept that is becoming popular in Europe and large centers in North America is the “Luxury” Hostal, which gives yet another possibility for an investment.
- The imaginative investor could combine any of theses concepts or create their own unique property.
IMPROVEMENTS AND UPGRADES ON TABOGA
The government of Panama has invested nearly $2,000,000 in infrastructure projects and tourism facilities. The pier, the entrance and the beach have been renovated and received new public bathrooms all inaugurated in 2018. The local government is continuing the work by adding impressive sculptures of natural elements which can be found around the island as well as areas to show off the flowers the island is so famous for.
EXISTING ISLAND FACILITIES
The island water plant is equipped with a reverse osmosis system. A desalination system also ensures pure drinking water. A new pier has been built over the last year. An excellent health clinic with doctor, nurse, pharmacy and lab is well-established. A police station and a maritime authority provide security on the island. For the convenience of tourists and residents alike, Taboga now has a Banco Nacional ATM.
ACTIVITIES AND AMENITIES ON TABOGA
Tourists and Panamanians escape from bustling Panama City on a short 30-minute ferry to Isla Taboga where there are no cars, no aggravation, just peace and tranquility. Taboga has the closest beach to Panama City, so instead of driving one to two hours - or more - in weekend traffic to the Pacific beaches, smart people take the Taboga Express Fast Ferry and head to the very accessible beaches. After arriving, visitors can sun bathe on white sand beaches, swim in its sparkling clear waters, and hike the mountain through the natural forest. Taboga is called the Island of Flowers, an island of perennial blossoms, a history from the 1500's, and a very special paradise. The island has roughly 1,000 residents, but the population swells on weekends with the arrival of local and international tourists.
Lying in the path of the Trade Winds, gentle sea breezes are always present, with temperatures usually in the 70’s and 80’s. Visitors stroll along its flower lined paths, walk its pristine nature trails, smell the roses, taste the forbidden fruit, and just explore and discover. The 3 km Spanish Cross Hike begins just minutes from Cerrito Tropical. The current staff has experience helping arrange boating, fishing, snorkeling, or hiking outings with local guides with an advanced reservation, plus an enjoyable day having a relaxing massage. In summer months more watersports are available such as kayaking, banana boats, and is a great spot for stand up paddling (SUP equipment rentals as yet). Restaurant services are available for breakfast and dinner upon reservation. Several international level restaurants, casual restaurants like the Calaloo Fishbar, as well as a variety of local food kiosks can also be found on the island.
NEWS FLASH: Panama to Offer Concession to Run Taboga Island Theme Park
PANAMA CITY – The Panama Tourism Authority (ATP) said on Monday that it will seek bids on a five-year concession to operate the Geoturismo Theme Park on Taboga Island. The aim of the initiative is to safeguard the public investment made in the project, the ATP said. Designed by the ATP and the Taboga municipal administration, Geoturismo covers an expanse of 19 hectares (47 acres) and includes a zip line, an obstacle course, and hiking trails.
MORE BIG NEWS: From local sources, we have been told that a luxury boutique American hotel group has purchased a site for renovation on Taboga Island; plus several luxury homes have been purchased recently.
CLICK ON> TABOGA ISLAND HISTORY
Nestled in the warm tropical waters of Panama Bay, this small island has a rich and colorful history. It has been the home of Conquistadors, Francisco Pizarro, pirates, Gold Rush prospectors, artists, soldiers, and rests in the glory of being the birthplace of a saint. Paul Gauguin, the famous French impressionist, came to the island in 1887. The second oldest church in the Western hemisphere is on the island. John F. Kennedy was based on the American Taboga base during his training before heading to the South Pacific. Through it all, the island has remained its tranquil self.
CLICK ON> TABOGA ISLAND PREVIEW
