$10,500,500
St. Croix, 00820
MLS# 20-422
Status: Closed
42 beds | 46 baths
1 / 33
Property 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 42 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.
Details
Documents
Location/Area
Plot/Unit Number: 108+
Island: St. Croix
Quarter: Queen
City: Christiansted
General Property Description
Realtor.COM Type: Commercial
Total Bathrooms: 46
Taxes: 28500
Furnished: Yes
Tax Year: 2019
Lot Acres: 7.63
Water Front: Yes
Pool: Yes
Zoning: R-3
Stamp Tax: Paid by Buyer
Approx. Sq Ft: 30000
Sold Price: $10,500,500
Total Bedrooms: 42
Sub Type: 2-4 Multi Units
Subdivision: The Palms at Pelican Cove
Contract Information
Unfinished Structure: No
Intended Use: Other
Status: Closed
Under Contract Date: 2021-05-12
Current Price: $10,500,500
Begin Date: 2020-03-01
Sold Date: 2021-07-16
Sold Price: $10,500,500
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: 17.761876
Geo Lon: -64.730444
Directions: From Christiansted, take Northshore Rd, turn right at Delmar Gas City. After last speed bump, make right at The Palms Hotel sign and follow the road until walled enterance into property. 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
The Palms Offering and NDA 
Listing Office: Calabash Real Estate
Office Phone: 340-718-5285
Information deemed reliable but not guaranteed.