108+ La Grande Princesse CO, St. Croix,
$10,500,500
Property Type:
Commercial
Bedrooms:
42
Baths:
46
Lot Size (sq. ft.):
332,363
Status:
Closed
Current Price:
$10,500,500
List Date:
3/22/2021
Last Modified:
7/19/2021
Description
THE PALMS HOTEL: Unique turn-key opportunity to acquire growing Caribbean Beach Front Resort with significant value-add development potential. Property comprises four contiguous parcels totaling 7.635AC and over 900 linear feet of sandy beachfront with gorgeous coral reef. Improved with approx 30,000 SF over six buildings. Resort currently has 42 guest rooms and suites.Prior owner had received (now expired) CZM approval to expand to 104 rooms. Buyer can investigate renewal possibilities for substantial upside. Large beach-side pool with adjacent restaurant and bar. Tennis court. Located in Opportunity Zone! Past owner had EDC benefits. Financials available to screened and qualified buyers only. See 'Documents' for more info and inventory of personal property included in offering.
More Information MLS# 20-422
Location/Area
Plot/Unit Number: 108+
Island: St. Croix
Estate: La Grande Princesse CO
Postal Code: 00820
Quarter: Queen
Geo Lat: 17.761876
Geo Lon: -64.730444
Directions: From Christiansted, take Northshore Rd, turn right at Delmar Gas City. After last speed bump, make right at The Palms Hotel sign and follow the road until walled enterance into property. Lobby to the left after Tennis Court.
General Property Description
Sold Price: $10,500,500
Realtor.COM Type: Commercial
Lot Acres: 7.63
Approx. Sq Ft: 30000
Total Bedrooms: 42
Total Bathrooms: 46
Sub Type: 2-4 Multi Units
Taxes: 28500
Tax Year: 2019
Subdivision: The Palms at Pelican Cove
Furnished: Yes
Water Front: Yes
Pool: Yes
Zoning: R-3
Stamp Tax: Paid by Buyer
Contract Information
Status: Closed
Under Contract Date: 2021-05-12
Current Price: $10,500,500
Begin Date: 2020-03-01
Sold Date: 2021-07-16
Sold Price: $10,500,500
Intended Use: Other
Unfinished Structure: No
Listing/Selling Member Info
Approx Int Sqft: 30000
Miscellaneous
Air Conditioning: Split
PWD#: #142
View
Waterfront: Sandy Beach
Property Features
Sale Includes: Land/Bldg & Bus
View: Buck Island; BVI; East; North; North Shore; Ocean; Sea; St. John; St. Thomas; STT/STJ; Water
Amenities: Pool; Restaurant; Storage; Tennis Court
Documents
The Palms Offering and NDA ›Listing Office: Calabash Real Estate
Office Phone: 340-718-5285
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Information deemed reliable but not guaranteed.