Commercial Income Producing in El Tesoro Area, Ambergris Caye, Belize

Great Investment Opportunity - Under Market Value!

Located one and a half (1-1/2) miles north of San Pedro Town in the El Tesoro area, Palapa Ventures Limited (PVL) is a Belizean corporation. The holdings of PVL consist of two beachfront parcels with a four unit apartment building, a restaurant and a pier with a 1,250 sq. ft. palapa structure at the end, home of the Palapa Bar. The two (2) beachfront parcels are each 75’ x 150’ with an easement on the northern boundary. The north parcel is undeveloped, but is cleared and partially landscaped. A rock seawall fronts both the north and south parcels with a concrete boat ramp at the south end of the south parcel.

The 2-story, four-unit apartment building is located on the south parcel and is surrounded by lush, mature tropical vegetation. The stucco finished apartment building, constructed in 1991, has two 7,000 gallon concrete cisterns as the foundation. Two wells; a shallow well that provides toilet and irrigation water, and a deep well that provides brine water for the small desalinization plant, ensuring sufficient water even in the dry season. There is a private, large wooden deck facing the ocean for the enjoyment of the tenants. Each apartment is approximately 500 sq. ft., one bedroom with a private bath, full kitchen and semi-private balconies. With a 5-year history of 100% occupancy, these units provide a consistent income stream.

On the west end of the building is a newly constructed (2006) restaurant currently leased through December 2011. This 850 sq. ft. wood-constructed building is beautifully finished with a bamboo exterior, 2 bathrooms, a full kitchen, storage and inside seating for 30 patrons. There is additional seating for 22 on the outside deck which sports several individual palapa-style shades. The restaurant is constructed on a concrete foundation that contains two additional 7,000 gallon water tanks.

Between the apartment building and the restaurant is a bodega which houses a laundry and storage area. This building contains all of the water pumps, pressure tanks and has a separate lockable tool cage for maintenance equipment. Also in the building is a token operated commercial washer and dryer for tenant use.

In 2003, the 300’ pier and Palapa Bar was rebuilt. The bar structure is 2-story, each level being 625 sq. ft. The upper level has a large palapa roof, full bar and a small kitchen area. Seating area is available around the large, wrap around bar and also all along the walls edge as there is no blockage from enclosed windows while you look over the water. An ideal gathering spot! The downstairs has a large open deck for additional seating or lounging, two (2) bathrooms and a storage room. There is also an “open’”’ area in the middle of the lower deck for viewing the undersea life. Holding a Publican Special Liquor License, the Palapa Bar has been in business for over 16 years and is well known to not only the local community, but within the tourist industry as well. It is currently leased through December 2010. The Palapa Bar is holding one of three licenses grandfathered in on Ambergris Caye for a bar and restaurant over the water.