An Iconic Rooftop Investment in the Heart of Casco Viejo
Situated at the corner of Calle 10 Oeste and Avenida San Victoriano, within Panama City's UNESCO World Heritage Site of Casco Viejo, this exclusive rooftop restaurant space offers a rare opportunity to acquire a premium income-producing asset within one of the city's most anticipated boutique hotel developments.
Offering 285 m² (3,068 sq. ft.) of commercial space with direct ocean views, Retail Unit 02 occupies the hotel's signature rooftop level. Currently under development, the boutique hotel is expected to begin operations in approximately 24 months and will feature 35 residences, four curated dining concepts, and five lifestyle amenity spaces, creating a landmark destination for hospitality, dining, and luxury living.
Developed by a group with more than 20 years of experience transforming Casco Viejo, the project has been carefully conceived to attract both international visitors and local clientele. The rooftop venue has already secured a contemporary Japanese restaurant operator, specializing in premium handrolls and signature cocktails, with a fully negotiated long-term lease agreement already in place, providing investors with stable and predictable income from day one of operations.
The investment is projected to generate US$175,000 in annual rental income during its first year of operation, representing a 6.5% capitalization rate, with a 3% annual contractual rent escalation, resulting in an estimated five-year cumulative rental income of US$928,896.
Investors will also benefit from Casco Viejo's highly attractive tax incentives, including a 30-year property tax exemption and a 10-year income tax exemption, enhancing the long-term value of the investment.
Just 15 minutes from Panama City's financial district and 20 minutes from Tocumen International Airport, this exceptional offering combines panoramic ocean views, a proven hospitality concept, secure rental income, and the prestige of one of Panama's most desirable historic destinations.
Asking Price: US$2,700,000
Highlights:
• Asking Price: US$2,700,000
• 285 m² (3,068 sq. ft.) of rooftop commercial space
• Direct ocean views from the rooftop level
• Boutique hotel opening in approximately 24 months
• Development featuring 35 residences, 4 dining venues, and 5 amenity spaces
• Contemporary Japanese restaurant operator secured
• Specializing in premium handrolls and signature cocktails
• Long-term lease agreement already established
• Projected Year 1 rental income: US$175,000
• 6.5% capitalization rate (Cap Rate)
• 3% annual contractual rent escalation
• Projected five-year cumulative rental income: US$928,896
• Prime location in UNESCO World Heritage-listed Casco Viejo
• Developed by a group with over 20 years of experience transforming Casco Viejo
• 30-year property tax exemption
• 10-year income tax exemption
• 15 minutes from Panama City's financial district
• 20 minutes from Tocumen International Airport