San Pedro Town, Ambergris Caye, Belize (PRWEB) April 27, 2011
THE BEST OF CARIBBEAN REAL ESTATE! 80 ACRES IN THE HEART OF SAN PEDRO TOWN!
Attention investors and developers! Residential and commercial real estate market in Belize is experiencing rapid increase in sales. Baby boomers retirement trends and safe landing policies of Belize Banks have saved the Belize real estate market. Rapid rise of Canadian dollar makes the properties in Belize really affordable for Canadians. In addition many American buyer are looking to diversify their investments and have a free and clear property outside of the United States. Our office is happy to offer for sale 80 acre parcel located in San Pedro Town-no. 1 tourist and retirement destination in Belize. It is the largest available development parcel in San Pedro Town and it has electricity at the property. All other utilities including town water,
sewer , internet and telephone cables are at the lot line. Property also features 3500 ft of waterfront and it overlooks the recently build high end contemporary villas and condominiums of Costa Del Sol that are located across the vast and tranquil San Pedro lagoon.
The property is offered at a well below market price of $4,000,000 US and seller`s financing is available.
The highest and best use for this property would be a residential development of gated canal front lots community. Currently there is only one available canal front lots community on Ambergris Caye. It is called Grand Oasis.
Grand Oasis-San Pedro`s first gated high end residential community of 420 canal front villas just announced its grand opening and sales have been brisk. Grand Oasis is situated on 64 acres , so its safe to assume that 80 acres would easily accommodate 500 or more lots. While Grand Oasis is not selling individual canal front lots to public, the prices of the villas- over 375,000 US each suggest that price of the lots in this community is well over $100,000 US each. It is safe to assume that developer of the 80 acre parcel offered here would gross over $50,000,000 US . from the sales of 500 canal front lots. Our preliminary calculations suggest that it will cost around $5,000,000 US to develop said 80 acre parcel into +/- 500 canal front lots. Marketing expenses would be in the $1 mil US range.
Therefore net profit from the developing the 80 acre parcel into canal front lots gated community would be around $40,000,000 US or a 500% return on the investment.