Carr#3 PLAYA SOLES INC

About this property

Caribbean oceanfront property, ready for a hospitality operator: the entire Playa Soles property is available for lease at Carr. 3 Km 115.6, Bo. Guardarraya, Patillas, right on the tourist route of southeastern Puerto Rico. With a single lease, the tenant gains four income streams from day one: Playa Soles Bar & Grill, operating since 2015, plus three independent beachfront vacation villas: Celestial Blue, Villa Medusa and Villa Serenity. THE RESTAURANT. 3,000 sq. ft. building on a 2,449 sq. m. lot, with ample parking and access to approximately half an acre of additional space for "chinchorreo" tour buses (Puerto Rico's popular food-and-music bus outings). Its current Single Use Permit authorizes a restaurant with alcohol sales, live music, jukebox and pool tables, a combination rarely found in the area and ideal for events, group outings and concerts. Delivered turnkey and fully operational, including furniture, fryers, refrigerators, commercial bottle coolers and all equipment. Includes the chinchorreo client list: established groups that visit nearly every weekend from all over the island. THE VILLAS. Nearly new, delivered furnished and equipped with air conditioning, internet and jacuzzi. They have a proven vacation rental track record in a high-demand area, and their guests dine directly at the restaurant. TRANSITION. The experienced staff is available to remain at the tenant's discretion. Includes an initial training period of approximately four weeks with the current owner. TERMS. Starting rent of $10,000 per month plus $150,000 key money, with long-term terms negotiable. This is a lease (NNN) tenant pays property taxes (CRIM), insurance naming the landlord as additional insured, and maintenance of the entire property. The tenant also transfers all utilities and services into its own name (electricity, water, cable TV and internet), obtains its own licenses and permits, and operates the villas under its own accounts on vacation rental platforms. Equipment is delivered per a signed inventory and returned at the end of the lease. Security deposit and personal or corporate guarantee required. REQUIREMENTS. Proven restaurant or hospitality experience, financial statements, proof of financial capacity and business references.