Income Producing Hotel And Developable Land Site Richmond Hill · Providenciales · Turks & Caicos MLS# 1153503 Commercial Building & Land For Sale

US$ 4,500,000
MLS# 1153503
Pending Offers
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Courtesy of TCREA MLS members.

Property Details

  • TCREA 2300735
  • City/Area Richmond Hill (Providenciales)
  • Country Turks & Caicos
  • Class Commercial
  • Land 1.77 Acres
  • Category Commercial Building & Land

Features and Amenities

  • Property View
    • Ocean View
    • Canal Front

Property Remarks

A Turks and Caicos Islands landmark, The Banyan Inn offers 6 bedrooms, a commercial kitchen, BBQ Gazebo, 75’ dock, pool, and deck on the beautiful waters of the south side marina. Nestled directly between globally celebrated major luxury developments, Wymara Villas and The Strand, there are several reasons to get excited by this offering and many ways in which to maximize the potential of this investment. In the opinion of this agent, it boils down to two basic choices: prospective purchasers should consider either renovating and rejuvenating the existing 6000sqft business or tearing it down and treating as truly exceptional greenfield 1.77-acre development site. Being a resident of the Islands for quarter of a century I personally would prefer to see a new owner embrace the celebrated history of Banyan Inn and simply modernize the building and business whilst developing either a boutique hotel or a new yacht club on the surrounding vacant land to create additional profit centers. It doesn’t take a rocket scientist to figure out the income and appreciation potential of this prime piece of real estate given the fact that the site boasts over 600 linear feet of canal frontage with front row seats to the best sunsets Providenciales has to offer and direct access to the crystalline playground and turquoise waters of the Caicos Banks. With both Turtle Tail and Cooper Jack really coming alive as luxury neighborhoods these past few years and with a built-in customer base of high-net-worth individuals investing in the neighboring luxury developments, a would-be purchaser should feel bullish with assessing pro-forma yield for hotel, bar, and restaurant, and condotel operations. All in a central location that puts the ‘go to’ hot spots that the Island has to offer in less than a 15-minute drive. Tourism nirvana and a boater’s paradise.

Map Location

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Disclaimer: The information contained herein has been furnished by the owner(s) and or their nominee and represented by them to be accurate. The listing company, agent and TCREA MLS disclaims any liability or responsibility for any inaccuracies, errors or omissions in the represented information. The listing details herein are also courtesy of TCREA (Turks and Caicos Real Estate Association) MLS. All the information contained herein is subject to errors, omissions, price changes, prior sale or withdrawal, without notice and is at all times subject to verification by the purchaser(s). (¹) Listed Amount was converted based on recent interbank exchange rates. We do not guarantee the accuracy of these amounts.