Development Property Currently Tropical Home for Sale in Playa Del Carmen, Quintana Roo, Mexico

Fantastic Development Potential - Location Location Location

This "Secret Garden" is in the heart of Downtown Playa Del Carmen, Mexico - ONLY 1 block from the famous 5th Avenue pedestrian walkway and ONLY 2 blocks to the beach... it is a beautiful private palapa home designed by a film production designer then it was renovated to become a tropical restaurant in the video you see at the blogspot below.
Retirement has closed the restaurant and the property must be sold, either as a tropical paradise home or a condo site with development potential for up to 14 condominiums to four levels, possibly even having ocean views from the fourth floor penthouses. Price of property reflects development potential and location, not existing structures.
Recent approval for 14 condos -
DO THE MATH !......
SELL -
12 x $200,000US + 2 x $300,000/penthouses = $3,000,000 GROSS IN
BUILD -
14 x 100m each x $800US/m/build MAX = $1,120,000 build + $650,000 land + $100,000 permits and misc = $1,870,000 US BUILD OUT
ROI -
$1,570,000 NET GAIN ! THAT'S OVER A 60% ROI ! Don't miss this !
Check out the video for site information, and write for more location information and maps...
THIS PROPERTY MUST SELL NOW - OWNER RETIRED !!!!!