Apartment in Panama - Casco Viejo, San Felipe, Panamá[PA]

002604857032 - L’ESPLANADE BUILDING | OLD TOWN, PANAMA CITY - A prime location, timeless architecture, and an investment opportunity in one of the most exclusive historic districts of Panama City.Discover L’ESPLANADE, a residential and commercial building located on Calle 12, San Felipe, in the heart of the Casco Antiguo (Old Town)—just steps away from Plaza Herrera and near the "Puerta Sur" urban revitalization project.This property blends colonial architectural details with contemporary design, natural materials, and light-filled spaces. It offers an ideal real estate opportunity for investors looking to acquire a complete asset in one of Panama’s most significant tourist and cultural destinations.INVESTMENT OPPORTUNITY | ENTIRE BUILDINGSALE PRICE: US$6,500,000.L’ESPLANADE features a residential and commercial structure spread across four levels:Total built area: 1,593 m².10 residential apartments.1 commercial space.Commercial space of approximately 157 m².Four-level building.Integrated residential and commercial spaces.The property allows for various real estate utilization strategies, including tourist accommodation, residential rentals, and commercial activity.RESIDENTIAL COMPONENT | 10 APARTMENTSThe building comprises ten residential units designed to offer comfort, functionality, and a unique lodging experience.Key features include:1- and 2-bedroom apartments.A variety of sizes and layouts.Spacious, light-filled interiors.Integrated kitchens.Contemporary design.Wood and metal finishes.Thoughtfully designed lighting.Currently, the property is marketed as an operational asset for short-term rentals, presenting an excellent opportunity for investors interested in the hospitality market.COMMERCIAL COMPONENT | 157 M² COMMERCIAL SPACEL’ESPLANADE features an expansive commercial space distributed across three functional levels:Ground floor.Mezzanine.Basement.Spanning approximately 157 m², it offers the versatility to accommodate various commercial concepts:Restaurants and cafés.Art galleries.Boutiques.Concept stores.Specialty retail.An excellent opportunity to establish a business in an area surrounded by boutique hotels, restaurants, galleries, and tourist attractions.EXCLUSIVE AMENITIESOne of the building’s primary highlights is its panoramic rooftop terrace, designed for enjoying the historic surroundings and views of the Panama City skyline.Key features include:Rooftop with a swimming pool.Panoramic terrace.Lounge/relaxation area.Social spaces.Elevator.Views overlooking Casco Antiguo and the city.ARCHITECTURE AND DESIGN | TIMELESS ELEGANCEL’ESPLANADE blends the architectural essence of Casco Antiguo with a contemporary approach, inspired by the harmony of space and natural materials.Key attributes include:Organic architecture.Colonial-style details.Wood and metal finishes.Spaces filled with natural light.Indirect lighting design.Minimalist-style furnishings.Environments designed to maximize natural ventilation and light.A property that seamlessly combines historic character, design, and functionality.PRIVILEGED LOCATION | CASCO ANTIGUOL’ESPLANADE is located on Calle 12, San Felipe—just steps away from Plaza Herrera and near the future "Puerta Sur" connection.A strategic location surrounded by history, culture, gastronomy, and entertainment.Nearby points of interest include:Plaza Herrera.Plaza de Francia.Paseo de las Bóvedas. Interoceanic Canal Museum.National Theatre.Casa Casco.American Trade Hotel.Fine-dining restaurants.Boutique hotels.Art galleries.Boutiques and specialty shops.Connectivity to Amador and the Cinta Costera.ZONING AND TAX BENEFITSL’ESPLANADE is marketed with RM H2 – C2 zoning and final approval, according to the information provided for the property.Furthermore, it falls under the special tax incentive regime for Casco Antiguo, which includes:A 2% ITBMS (value-added tax) benefit on the first sale.A 10-year exemption from income tax.A 30-year exemption from real estate tax.These benefits may serve as an additional draw for investors looking to acquire and operate real estate assets in the historic center.The application of each incentive is subject to legal requirements, the necessary certifications, and the property’s eligibility.WHY CONSIDER L’ESPLANADE AS AN INVESTMENTL’ESPLANADE represents an opportunity to acquire a complete real estate asset in one of the most exclusive areas of Panama City—a location where supply is highly limited.