HousePuerto de la Cruz (Spain)

Price :

$2,059,100

USD

Euro € EURAmerican Dollar ($ USD)British Pound (£ GBP)

Surface1,090 m²

Building of 1090 square meters located in the area of La Paz, Puerto de la Cruz, Tenerife. This property has operated as a hotel for more than 40 years and presents an interesting opportunity for investors looking to develop a project in the hotel and commercial sector.The property has 16 spacious rooms, which offer great potential for its transformation into a boutique hotel. In addition, it has 5 commercial premises, which include a restaurant with a terrace, a bar-cafeteria currently rented and three additional premises at street level. In the basement, there is a versatile space of approximately 300 square meters, ideal for uses such as storage or laundry.It is important to note that the building requires a complete renovation in its hotel area, which will allow the new owners to customize and modernize the space according to their needs and vision. The electrical and plumbing installation has been recently renovated, and the elevator was changed 5 years ago, keeping all its maintenance up to date. This lift connects from the ground floor to the rooftop, where you can enjoy panoramic views and the possibility of creating an attractive rooftop bar.The location in La Paz is another of the strengths of this property. This consolidated tourist area maintains a high demand, with an average annual occupancy of 85%, which exceeds the average for the municipality. The environment offers a perfect combination of tranquility and access to services, making it a preferred destination for tourists looking for quality.The hotel market in Puerto de la Cruz is undergoing significant revitalization, with several projects under development that aim to improve the tourism offer. With an average occupancy of over 80% and competitive rates per room, this property is favorably positioned to take advantage of current market trends.The combination of its strategic location, the development potential of the rooftop bar and the various sources of income it offers through the rental of commercial premises make this building an attractive investment. Although a reform is needed to get the hotel area up and running, the income generated by commercial premises can start from day one.In summary, this building in La Paz represents a valuable opportunity for those interested in participating in the transformation of Puerto de la Cruz's tourism sector. With its potential to become a boutique hotel and its ability to generate immediate income through commercial premises, this property promises to be a solid investment with prospects for growth in the future.