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$ 2,607,000
Est. payment /mo
New
Casco Viejo
8,331 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,331 sqft
Price per Sqft $312
Property Description
Edificio Bandera | Casco Antiguo | $2,607,000
Key Property Information:
• Location: Calle 4ta, between Avenida B and Avenida Central, just steps from Plaza Bolívar
• Year Built: 1877
• Restoration: Completed in 2017
• Total Built Area: 818.34 m²
• Saleable Area: 774.31 m²
• Common Area: 44.03 m²
• Composition: 3 apartments and 2 street-access commercial spaces
• Apartment 1: 179.68 m² duplex with 3 bedrooms, 3 bathrooms, and a balcony overlooking Calle 4ta
• Apartment 2: 166.37 m² duplex with 3 bedrooms, 3 bathrooms, and a balcony overlooking Calle 4ta
• Apartment 3: 235.48 m² penthouse with a primary bedroom, 2 bathrooms, and a 74.78 m² rooftop terrace
• Commercial Spaces: 88.97 m² and 74.24 m², respectively, with a 29.57 m² open courtyard serving both spaces
• Historic Features: Exposed calicanto stonework, traditional Casco mosaic tile floors, timber ceilings, and two wells uncovered during archaeological excavations
• Occupancy: All three apartments are leased to a short-term rental operator, while the two commercial spaces have independent lease agreements
• Contracted Gross Rental Income: US$9,779 per month / US$117,348 per year
• Gross Yield Stated in the Portfolio: 4.5% annually
Apartment areas include their respective balconies and terrace, where applicable. Stated rental income is before taxes, insurance, and other non-recoverable expenses.
An Investment in Casco Viejo's Architectural Heritage
Located just steps from Plaza Bolívar, Edificio Bandera is a fully restored historic property that combines architectural heritage, authentic character, and a prime location in Casco Antiguo. Built in 1877 and restored in 2017, the building preserves distinctive architectural features that reflect the neighborhood's rich history, including exposed calicanto stonework, traditional mosaic tile floors, timber ceilings, and two wells uncovered during archaeological excavations. According to the history associated with the property, the first Panamanian flag was sewn in this house, lending it a unique identity and exceptional historical significance.
With 818.34 m² of built area, the property comprises three apartments and two commercial spaces with direct street access. The residential units include two spacious duplex apartments with balconies and a penthouse featuring a private 74.78 m² rooftop terrace, ideal for enjoying the historic surroundings of Casco Antiguo.
All five units are currently leased, generating contracted gross rental income of US$117,348 annually. This property presents an attractive investment opportunity for buyers seeking to combine architectural heritage, diversified residential and commercial rental income, and a strategic location in one of Panama City's most iconic destinations.
Key Property Information:
• Location: Calle 4ta, between Avenida B and Avenida Central, just steps from Plaza Bolívar
• Year Built: 1877
• Restoration: Completed in 2017
• Total Built Area: 818.34 m²
• Saleable Area: 774.31 m²
• Common Area: 44.03 m²
• Composition: 3 apartments and 2 street-access commercial spaces
• Apartment 1: 179.68 m² duplex with 3 bedrooms, 3 bathrooms, and a balcony overlooking Calle 4ta
• Apartment 2: 166.37 m² duplex with 3 bedrooms, 3 bathrooms, and a balcony overlooking Calle 4ta
• Apartment 3: 235.48 m² penthouse with a primary bedroom, 2 bathrooms, and a 74.78 m² rooftop terrace
• Commercial Spaces: 88.97 m² and 74.24 m², respectively, with a 29.57 m² open courtyard serving both spaces
• Historic Features: Exposed calicanto stonework, traditional Casco mosaic tile floors, timber ceilings, and two wells uncovered during archaeological excavations
• Occupancy: All three apartments are leased to a short-term rental operator, while the two commercial spaces have independent lease agreements
• Contracted Gross Rental Income: US$9,779 per month / US$117,348 per year
• Gross Yield Stated in the Portfolio: 4.5% annually
Apartment areas include their respective balconies and terrace, where applicable. Stated rental income is before taxes, insurance, and other non-recoverable expenses.
An Investment in Casco Viejo's Architectural Heritage
Located just steps from Plaza Bolívar, Edificio Bandera is a fully restored historic property that combines architectural heritage, authentic character, and a prime location in Casco Antiguo. Built in 1877 and restored in 2017, the building preserves distinctive architectural features that reflect the neighborhood's rich history, including exposed calicanto stonework, traditional mosaic tile floors, timber ceilings, and two wells uncovered during archaeological excavations. According to the history associated with the property, the first Panamanian flag was sewn in this house, lending it a unique identity and exceptional historical significance.
With 818.34 m² of built area, the property comprises three apartments and two commercial spaces with direct street access. The residential units include two spacious duplex apartments with balconies and a penthouse featuring a private 74.78 m² rooftop terrace, ideal for enjoying the historic surroundings of Casco Antiguo.
All five units are currently leased, generating contracted gross rental income of US$117,348 annually. This property presents an attractive investment opportunity for buyers seeking to combine architectural heritage, diversified residential and commercial rental income, and a strategic location in one of Panama City's most iconic destinations.
Listed by Vanessa Robles • Engel & Völkers Panama City
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