108+ La Grande Princesse CO, St. Croix, 00820 (MLS# 20-422)

108+ La Grande Princesse CO, St. Croix, 00820

$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

Overview

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.

Listing Details MLS# 20-422

LocationArea

Estate: La Grande Princesse CO
Postal Code: 00820
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

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

Under Contract Date: 2021-05-12
Begin Date: 2020-03-01
Sold Date: 2021-07-16
Intended Use: Other
Unfinished Structure: No

Miscellaneous

Air Conditioning: Split
PWD#: #142

View

Waterfront: Sandy Beach
Buck Island: Yes
BVI: Yes
East: Yes
North: Yes
North Shore: Yes
Ocean: Yes
Sea: Yes
St. John: Yes
St. Thomas: Yes
STT/STJ: Yes
Water: Yes

Location/Area

Plot/Unit Number: 108+
Island: St. Croix
Quarter: Queen
City: Christiansted

More Information

Listing/Selling Member Info

Approx Int Sqft: 30000

Amenities

Pool: Yes
Restaurant: Yes
Storage: Yes
Tennis Court: Yes

Sale Includes

Land/Bldg & Bus: Yes

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