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

$5,000,000

Property Type: Commercial Bedrooms: 43 Baths: 46 Lot Size (sq. ft.): 332,363 Status: Closed

Current Price: $5,000,000 List Date: 12/09/2024 Last Modified: 3/14/2025

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 43 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.

More Information MLS# 24-1852

Location/Area

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

General Property Description

Realtor.COM Type: Commercial Total Bathrooms: 46 Taxes: 28743.28 Furnished: Yes Tax Year: 2024 Lot Acres: 7.63 Water Front: Yes Pool: Yes Zoning: R-3 Stamp Tax: Paid by Buyer Approx. Sq Ft: 30000 Sold Price: $5,000,000 Total Bedrooms: 43 Sub Type: 2-4 Multi Units Subdivision: The Palms at Pelican Cove Year Built: 1966

Contract Information

Concessions: No Intended Use: Primary Status: Closed Under Contract Date: 2025-02-10 Current Price: $5,000,000 Begin Date: 2024-10-23 Sold Date: 2025-03-14 Sold Price: $5,000,000

Listing/Selling Member Info

Approx Int Sqft: 30000

Miscellaneous

Air Conditioning: Split PWD#: #142

Amenities

Pool: 1 Restaurant: 1 Storage: 1 Tennis Court: 1

View

Buck Island: 1 BVI: 1 East: 1 North: 1 North Shore: 1 Ocean: 1 Sea: 1 St. John: 1 St. Thomas: 1 STT/STJ: 1 Water: 1 Waterfront: Sandy Beach

Sale Includes

Land/Bldg & Bus: 1

LocationArea

Estate: La Grande Princesse CO Postal Code: 00820 Geo Lat: 17.762009 Geo Lon: -64.730789 Directions: From Christiansted, take Northshore Rd, turn right at Titan Gas station. After last speed bump, make right at The Palms Hotel sign and follow the road until Hotel. Lobby to the left after Tennis Court.

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