Mixed-Use Property in Santa Ana

Location: Calle 18 Este, Santa Ana District, Panama City, Panama. Appraised Market Value: US$2,100,000, according to the appraisal dated November 21, 2022. Total Land Area: 396.25 m². • Lot 1: 231.10 m². • Lot 2: 165.15 m². • Property Configuration: Two independent lots featuring two adjoining buildings designated for residential and commercial use. • Building 1 – Pensión Arias: Four floors above the ground floor. • Building 2 – PH Asvat: Five floors above the ground floor. • Commercial Units: Two commercial spaces located on the ground floor. • Unit 1: Approximately 200 m², occupied by Vendela at the time of the appraisal. • Unit 2: 138.75 m², occupied by Bar Coliseo Night Club at the time of the appraisal. • Rooms – Building 1: Five rooms on the first floor and nine rooms on each of the second through fourth floors, for a total of 32 rooms. • Rooms – Building 2: Nine rooms on each of the first through fifth floors, for a total of 45 rooms. • Total Number of Rooms: 77 documented rooms, each with an en-suite bathroom. Common Areas: Reception, corridors, staircases, office, laundry room, and cleaning room. Equipment and Facilities: Backup power generator, 1,250-gallon underground water tank, water pumps, electric water heaters, and reserve water tank. Construction Features: Concrete floors finished with tiles, rendered concrete block walls, aluminum-framed windows, and slab ceilings finished with gypsum board. Land Characteristics: Rectangular lot, mostly level topography, and fully developed site. Available Infrastructure: Potable water connected to the IDAAN water supply network, sanitary sewer and stormwater drainage systems, electricity, telephone wiring, sidewalks, and concrete roads surfaced with asphalt. Surroundings: Located near the Avenida Central pedestrian corridor, Avenida B, Mercado San Felipe Neri, and various commercial and tourist areas in the historic city center. Zoning According to the Appraisal: RM3C2 and Urban District Standard 1ZM3, allowing multifamily residential use and complementary commercial activities on the ground floor. Reported Physical Condition: Good, according to the 2022 appraisal. Appraised Quick-Sale Value: US$1,900,000. K.B. / L.P