|City: Santo Domingo
Country: Dominican Republic
Price: $ 650,000
|Square Feet: 3,454
Lot Size: 321 m2
|Full Description: Newly constructed hotel for sale in an excellent location in Santo Domingo.
1. The city of Santo Domingo: With 2.5 million inhabitants, Santo Domingo is the largest city in the Caribbean. The coastal city is just 30 km away from the Caribbean’s beautiful beaches (approx. ½ hr car journey). Many tourists take a 1 – 3 day short break from their main vacation residence to discover the country’s largest cultural attractions, the historic “Zona Colonial” quarter in Santo Domingo. Listed as a UNESCO World Heritage Site since 1990, this colonial quarter offers visitors a multitude of museums, churches, colonial forts, restaurants, cafés, discotheques, bars, shops and the cathedral.
2. Hotel is located approximately 100 meters from the port and the Malecon (seafront) and close to luxury hotels and casinos. Prices for these hotels range between US $ 80 - 120 per night.
The main shopping street and center of the colonial area, called “El Conde”, is just 400 meters away. It is planned to realize a marina for 500 yachts, 100 meters away from the hotel (see photos Part 6).
3. Hotel advantage: The small, luxurious rooms are perfect for a pleasant 1 – 3 day city break at the attractive price of 50 US $ (per double room).
4. Rental income: Rental of the hotel’s 8 double rooms, 1 single room and suite will provide sufficient profit for establishing a livelihood in the Caribbean. The 3-bedroom suite can also be used as an apartment for the hotel owner.
Gross income projection per year (70% capacity utilization):
515 US $* x 255 days (70% capacity utilization) = 131.325 US $ yearly rental income
Remark: Additionally 4 further double-rooms can be build on the 2nd floor.
*Basis of calculations:
Suite 80 US $/day x 1 Suite = 80 US $
Double room 50 US $/day x 8 DR = 400 US $
Single room 35 US $/Tag x 1 SR = 35 US $
TOTAL 515 US $/day
For comparison: The cost of living and labor costs are markedly lower in Santo Domingo compared with Europe and the USA. The minimum income amounts fixed by the government are around 200 US $/month.
5. Sales price for the hotel of 650,000 US including a future increase in property value allow good return on capital to be achieved especially if the marina for the yachts will be realized.
Note: The hotel is unfurnished and can therefore be furnished out to the buyer’s taste
6. Summary for the buyer:
a) For the customer an economically priced alternative for a 1-3 day pleasant city break in Santo Domingo compared to the luxury hotels in the neighbourhood
b) For the buyer a livelihood with a guaranteed future in the Caribbean’s largest city. The suite can also be used as an attractive apartment, with 3 sleeping-rooms for a family, a kitchen and a balcony with ocean view.
H-032 Newly Build Hotel in excellent location - Santo Domingo
Luxury Caribbean Real Estate in the Dominican Republic
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