Hotel in Puntarenas Oldest

This historic Puntarenas property, established in 1901, is offered with Fee Simple title, granting full ownership rights to foreign buyers. Foreign individuals and entities can own property in Costa Rica outright, with the same rights and protections as citizens. Annual property taxes are assessed based on the registered cadastral value of the land and improvements. Typical closing costs, encompassing notary fees, registration, legal services, and various stamps, generally range between 2% and 4% of the purchase price. Additionally, a property transfer stamp tax of approximately 1.5% of the declared transaction value is customary. With a purchase price of $1,200,000, this investment may qualify buyers for residency-by-investment programs, subject to the specific requirements and approval processes of the Costa Rican government.

This historic property, offered at USD 1,200,000, encompasses a substantial 1804 m² of land in Puntarenas, Puntarenas. Originally inaugurated in 1901, the hotel has been a landmark in the district for over 121 years, operating continuously. The building's rich history is tied to its founders, an immigrant couple from Italy, who established it as a prominent destination during Puntarenas' "golden years."

Currently, the property features a hotel with 12 operational rooms, following the demolition of its second floor. It previously operated with 30 rooms. Beyond the hotel, the expansive land hosts five additional commercial premises, all currently rented. These include a restaurant, a liquor store, a souvenir shop, a vegetable store, and an ice cream parlor, providing diverse income streams.

The location is unparalleled, directly facing the cruise ship pier, offering exceptional commercial visibility and ocean views. This beachfront position ensures consistent foot traffic and desirability. The property is offered furnished, ready for continued operation or renovation.

Prospective buyers should note that annual property tax in Costa Rica is based on the registered cadastral value. Closing costs, including property transfer stamp tax (approximately 1.5% of the declared transaction value) and notary, registry, and legal fees, typically range from 2% to 4% of the purchase price. Foreign buyers can acquire fee simple ownership, though maritime and concession zones adhere to distinct regulations.

This historic property, a landmark in Puntarenas, Costa Rica, offers a unique opportunity to buy property in Costa Rica with a rich legacy. Situated directly across from the cruise ship pier, its location is unparalleled for commercial ventures. The building, inaugurated in 1901, has been a cornerstone of the province for over 121 years, a testament to the enduring vision of its original Italian immigrant founders. This prime beachfront position provides ocean views and places you at the heart of Puntarenas's vibrant coastal life.

The 1804 square meter property currently operates with 12 hotel rooms, having historically housed 30. It also features five commercial premises already leased: a restaurant, a liquor store, a souvenir shop, a vegetable store, and an ice cream parlor. This established commercial ecosystem provides immediate income potential for those considering Costa Rica real estate for Americans or Costa Rica homes for Canadians. The area of Puntarenas itself, a significant port city, offers a distinct microclimate and a dynamic community character, blending local charm with accessibility. While specific distances to amenities like hospitals or the main airport (likely Juan Santamaría International, near San José) are not exact, its central location within Puntarenas ensures proximity to essential services and transport links within the canton.

For expat real estate Costa Rica buyers, understanding the financial aspects is crucial. Annual property tax in Costa Rica is based on the registered cadastral value of the property. When you buy property in Costa Rica, you should also factor in property transfer stamp tax, typically around 1.5% of the declared transaction value. Additional closing costs, encompassing notary fees, registry charges, legal expenses, and other stamps, often range between 2% and 4% of the purchase price. Foreign buyers are permitted fee simple ownership, offering full control over their investment in this furnished, ocean-view establishment. This property represents not just a piece of real estate, but a chance to invest in a piece of Costa Rican history with significant commercial upside.

This property presents a compelling investment for buyers seeking a commercial venture with established history and significant upside. With a total area of 1804 square meters, the structure currently operates as a 12-room hotel alongside five leased commercial premises, including a restaurant, liquor store, souvenir shop, vegetable store, and ice cream parlor. The hotel previously operated with 30 rooms, offering a clear pathway for renovation and expansion to increase room count and, consequently, short-term rental income potential. While specific rental income projections are dependent on renovation scope and operational strategy, the beachfront location directly opposite the cruise ship pier provides an inherently strong draw for tourism-driven revenue.

The asking price of USD 1,200,000 for 1804 square meters translates to approximately USD 665 per square meter. This figure should be evaluated against regional averages for commercial beachfront properties in Puntarenas, which can vary widely but often exceed this rate for prime locations with existing infrastructure. The ideal buyer is an investor with experience in hospitality or commercial real estate, prepared to undertake renovation to fully capitalize on the property's potential. Costa Rica's real estate market continues to attract foreign investment, and properties with such prominent locations and operational history offer a strategic entry point. An exit strategy could involve selling a fully renovated and stabilized asset to a larger hospitality group or maintaining it as a long-term income-generating property. Buyers should account for annual property tax, based on the registered cadastral value, and closing costs, which typically range from 2% to 4% of the purchase price, encompassing notary, registry, legal, and stamp fees. Foreign buyers are permitted fee simple ownership.

This iconic beachfront hotel in Puntarenas, Costa Rica, represents a rare opportunity to acquire a piece of living history and a thriving commercial enterprise. Established in 1901 by a dedicated Italian immigrant couple, this property has been a cornerstone of Puntarenas’s golden era and continues its legacy today. Boasting an unparalleled location directly across from the cruise ship pier, the hotel offers breathtaking ocean views and an unbeatable commercial footprint. The expansive 1804 square meter property currently houses 12 hotel rooms, with the potential to restore its original 30-room capacity, alongside five active commercial premises. These include a popular restaurant, a well-stocked liquor store, a vibrant souvenir shop, a fresh vegetable store, and an ice cream parlor, catering to diverse customer needs in this high-traffic beachfront location. The furnished hotel and its commercial components are poised for renovation and continued operation, building upon its 121-year legacy as a prominent destination in Puntarenas.

Yes, foreign buyers are permitted to hold fee simple ownership of property in Costa Rica. This specific property is not located within a maritime or concession zone, simplifying the acquisition process for international investors.

The property is connected to the established electrical grid in Puntarenas, ensuring reliable power for its hotel and commercial operations. Given its commercial nature and historical significance, it is advisable for new owners to assess current infrastructure and consider modern backup power solutions for continuous operation.

As a prominent commercial property in Puntarenas, high-speed internet services are readily available in this area. Various providers offer robust connectivity suitable for hotel management, commercial transactions, and guest services.

The property receives its water supply from the municipal water system in Puntarenas. This ensures a consistent and reliable source of potable water for all hotel rooms, commercial establishments, and general property use.

The closing process for a commercial property of this nature typically takes several weeks to a few months, depending on due diligence and financing. Buyers should account for property transfer taxes, which are approximately 1.5% of the declared value, and additional closing costs covering notary, registry, legal fees, and stamps, which generally range from 2-4% of the purchase price.

Puntarenas, often called "The Pearl of the Pacific," offers a lifestyle that perfectly blends laid-back coastal charm with vibrant economic activity, making it an ideal location for both investment and personal enjoyment. The city's rich maritime history is palpable, with the bustling cruise ship pier serving as a constant reminder of its connection to the wider world and a continuous source of potential clientele for this strategically located hotel. Imagine waking to the gentle rhythm of the Pacific, with the salty air invigorating your senses and the promise of a sun-drenched day ahead. This property places you at the heart of this experience, directly overlooking the ocean and the lively promenade. Beyond the immediate beachfront, Puntarenas offers a diverse array of activities. Visitors and residents alike can explore the historic city center, with its charming architecture and local markets, or venture further afield to discover the natural wonders of the region. From exploring nearby national parks teeming with exotic wildlife to enjoying world-class fishing and water sports, the opportunities for adventure and relaxation are endless. The local culture is warm and welcoming, characterized by the "Pura Vida" philosophy – a relaxed, optimistic way of life that embraces simplicity and happiness. This translates into a friendly community eager to share its traditions, from delicious fresh seafood at local eateries to lively festivals and cultural events throughout the year. For the discerning buyer, this isn't just a property; it's an entry point into a desirable lifestyle, offering the unique chance to operate a successful business while immersing oneself in the captivating beauty and welcoming spirit of Costa Rica's Pacific coast. The consistent flow of tourists from cruise ships and domestic visitors ensures a dynamic environment, while the inherent charm of Puntarenas fosters a sense of belonging and community for those who choose to make it their home or a regular retreat. This blend of commercial viability and an enviable lifestyle makes the investment in this historic hotel particularly compelling.