Location: Santa Teresa, Costa Rica
Beachfront Land Hotel Concession Approved
Located in Playa Carmen, the beach that begins the beautiful coastline of Santa Teresa, lies a 7,496m2 beachfront property with a 5 bedroom home and 2 additional guest houses. Additionally, the property houses a fully equipped restaurant, pool, and outdoor deck perfect for yoga.
What sets this property apart from any other is that it holds an approved concession for both commercial and/or residential use. The concession for this property was granted in June 2007 and will be up for renewal in June 2027. Each concession has an approved period of 20 years before requiring it to be renewed for an additional term.
This is a high value asset to obtain beachfront land and opens up a plethora of opportunities for future occupants. This concession status is the most valuable status achievable in the Maritime Zone as well as the most sought after. This is because this project is not limited in its activity. A project like this can be developed into a family estate, luxury vacation rental, or a boutique resort/hotel.
The doors to the home open up to gorgeous white sand beaches and the best surf spots in the area. The central location makes it an ideal place with all amenities close by. The area is surrounded with delicious restaurants, convenience stores, boutiques, shops, the bank, pharmacies, and so much more within walking distance.
Currently, the space is under residential usage. The restaurant on site is closed yet equipped with top of the line finishes that allow for immediate opening. The land itself falls within the regulated zoning map for Tourist Lodging and allows for various facets of development including, but not limited to; Cabinas, Hotels, Hostels, Restaurants, Cafeterias, Bars, Discotechs, Hotels, Wellness Centers, Health Clubs, Sport Areas & Rental of Sport Equipment, Swimming Pools, Shops, Travel Agencies, and more.
The buildings were all built within the last 20 years. The main house and pool areas were originally built in 2004. In 2007 the first guest house was built and in 2012 a second guest house was added to the property. A few short years later, the restaurant was built onsite in 2016. The existing structures measure a total of 800m2. This includes all structures mentioned above including a pool that measures 15 meters x 6 meters and outdoor deck that looks out onto the ocean.
Within the concession zone there is a 41 meters beachfront which makes it one of the best places to catch the sunset everyday! This land has great potential for future development. The current concession has an approved 24 hour liquor license which is extremely unique to this area, as well as a permit to host large events and play music onsite.
Zoning laws for this land allow for 50% coverage or development which comes to a total of 3,750m2 total area for development. With the current 800m2 taken into consideration, there is an additional 2,950m2 that still be developed according to the zoning plan regulations. The maximum number of rooms allowed to be built on this property is a total of 30. These rooms can be turned into offices or storefronts and used to house commercial activity, not just lodging. Zoning height restrictions include a maximum height of 7 meters. Any construction on site is permitted to two-story buildings. The maximum number of rooms allowed is 35. Additional building restrictions included; a minimum of 40% for a Green Zone.
The asking price for this exceptional piece of property with a total of 9 bedrooms and 9 bathrooms is $5,625,000
Next to this 7,496m2 property, there is an adjacent property that is a titled piece of land. This piece of land measures 2,228m2 that stretches to the public road. This also allows for commercial usage and development. This prime piece of property is being sold for an additional $2,228,000.