5,000
sq. ft. Houseon Miramar Beach
Only $400,000
5,000
sq. ft. House
on Miramar Beach
Only $400,000
Once owned by the governor of the state of Colima, this 38-year-old structure has not been lived in for many years. It is the first home built on Santiago Bay in the area known as Miramar. With 11 bedrooms, and a huge living area, this home could be remodeled for a Bed & Breakfast, Hotel, Restaurant, or even a Water Sports concession.
The engineering report says the lower level is solidly built; the upper level either needs to be reinforced or taken down. It sits on a double lot with approximately 135 ft. of beach frontage, and is on the main boulevard (Hwy. 200).
Please click on photos to enlarge.
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The value of this property is in the land (131 ft. of beach frontage x 98 ft. deep), not the structure. It is on the most popular beach in Manzanillo, an area where there are many restaurants, a few small hotels, and open air markets with local artisans where you can purchase everything from jewelry to T-shirts to hand-crafted souvenirs. It is directly across the street from the well-known Club Maeva and a few blocks from the popular Hotel Vista Playa de Oro. It is also 3 blocks away from the new development, "Las Cascadas," a 400-million dollar project by Colima Development Group, out of St. Paul, Minnesota. Beachfront properties are finite. There can be only so many properties around Manzanillo's two bays. In this area, property values have risen 40-80% per year for the last 2 years. If one did nothing but hold on to this property, you could more than double your money in 2-5 years. The property next door, currently rented out and operating as a restaurant, is also for sale for $250,000 USD. It is owned by the same family, and can be sold separately, or jointly with the above property. Please do not ask for more photos of the 11 bedrooms and 6 bathrooms (or the bats!). This is a one-of-a-kind property made for commercial use, with almost 40 years of positive memories for a local family. They would like to see the house or land be used to bring many more wonderful memories for visitors to Manzanillo. The property houses a restaurant, but the upper level is in poor condition. Though the lower level is 40 years old, it was built to the strictest of specifications, and the concrete and rebar supports are strong enough to last for many more years if you choose to remodel it. The state and local government, as well as the department of tourism plan to develop this area as a tourist Mecca. They will work with anyone who purchases this property, and if you would like to meet with them prior to purchase, the owners will be happy to introduce you. Note: Most people view a property that needs renovation with trepidation. In reality, costs are one third or less than the cost of the same restoration/remodeling work in the U.S. or Canada. If you are truly interested in this property, we will be happy to refer you to other foreigners who have successfully started--and are operating- -businesses in Mexico. We will also help you with remodeling and development, and have several well-known contractors with whom we work. |
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Susan
Dearing & Carlos Cuellar From the
U.S. or Canada Phone 011-52-314-333-3678 or cellular 011-52-314-358-5042 e-mail: propertypros@gomanzanillo.com |
