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The Casa Caracol Casco Antiguo (Old Quarter), or Casco Viejo in San Felipe, Panama City, is the right decision to make investments and receive incentives and tax exceptions. The new Panama City was constructed in 1673 after the pirate Henry Morgan destroyed the first, located 13 kilometers from the first Panama City.
After the Casco Antiguo was designated a World Heritage Site in 1997, the Panamanian government created a law to encourage the development of the Old Quartier. The Casco Antiguo law incentivizes the construction, reconstruction, purchase, and restoration of the Old Quartier estate and commercial activities.
Casa Caracol is a mixed-use property with (1) one duplex residential apartment unit and (3) prime commercial spaces around an internal courtyard. The building’s commercial area is street-front, and the third is on the second floor with a wrap-around balcony and high ceiling.
Casa Caracol is located on a corner lot right on the main avenue, entering Casco Antiguo (Avenue A). The property benefits from high-density commercial zoning and sits just a half block away from the bustling Plaza Herrera and is home to Casco Antiguo’s most Popular restaurants.
This property has been mostly renovated and can be monetized without expensive construction and development costs.
Casa Caracol Specs
3 COMMERCIAL SPACES 1 RESIDENTIAL UNIT
MOSTLY RENOVATED ASSET
AVE. A AND 11TH STREET
National Heritage Historic Property.
High-density commercial & high density residential
The Casa Caracol building has most recently been appraised at USD 3,920 per construction m2 by Avinco appraisers.
Avinco is one of the most well–established appraisal firms in Panama. Avinco appraisals are one of the appraisals universally accepted by local banks in Panama.