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La Exposición | Avenida Cuba – Lot With RM3C2 Zoning In La Exposición

Price
B/.1,980,000
 (Reduced 1%)
Lot Size in m²
1200

La Exposición | Avenida Cuba – Lot With RM3C2 Zoning In La Exposición

Location

La Exposición

Published

14/12/2023

Price/m² of construction

B/.4,203

Price/m² of land

B/.1,650

Construction M²

471

Benefits

Easy Acces

Details

This unique historic building constructed in 1935 was the site of the first Jewish synagogue in Panama City, which was then converted to an evangelical church in 2006. Located on a 1,200 m2 corner lot in the most prestigious area of La Exposición (Calidonia), it enjoys a safe, central location in the downtown core, perfect for an existing congregation or for redevelopment.

The property is flat, rectangular in shape and fully fenced. It can be accessed from Avenida Cuba or Calle 36. The “El Hatillo” building housing the Municipality of Panama and the Mayor’s Office is located across the street, and within easy walking distance are two hospital complexes (private and public), a metro station, multiple government offices, hotels and restaurants.

With favorable MP RM3 C2 zoning, the existing structure can be converted to a multi-family housing complex and/or commercial locales that allow for multiple business activities permitted.

As development of the downtown core moves west of Bella Vista, savvy investors and experienced developers are already acquiring properties in La Exposición, which many are deeming “the next Casco Viejo” given its historic importance and unique architectural style.