Property is Sold $4,800,000 USD - Land
This project is a conceptual real estate project to be developed on one of the last beach front lots of Cabarete, Dominican Republic.
The land has 15,000 m2 (3.75 acres), with 86 meters of beach front (275 feet beach). It is located 1.6 Km (1 mile) East of the town center. The project consists of 110 rooms condos, which can be divided up to 75 keys (20 studios with 83 m2 each, 20 one bedroom condos with 113 m2 each, 20 two bedroom condos with 184 m2 each and 15 two bedrooms penthouses with 245 m2 each) for a total of 11,276 m2 space to be sold.
Because the condos design is flexible, studios, two and three bedroom condos can be adjusted depending on market demand. The project foresees a limited condo hotel operation once it is finished and among the amenities are a reception, gym, laundry room, pool, solarium, beach bar and restaurant.
All approvals and permits are in place to build immediately. A very conservative business plan demonstrates a 40%ROI.
The current owners will consider JV proposals providing potential JV partner can provide cash for the build.