Excellent investment opportunity in one of Panama City's most promising areas for tourism, commerce, and property appreciation. The Donovan Building is strategically located on Avenida B, at the entrance to the Old Quarter, a prime location that combines historical charm with a high volume of national and international visitors. In addition to its exceptional location, the property benefits from the tax incentives provided by the special legislation for the Old Quarter, making it a highly attractive option for investors seeking to maximize the profitability and growth potential of their investment.

Currently, the property operates with short-term rental apartments, generating recurring income, and has an approved redevelopment project that significantly increases its profitability potential.

Location
• Avenida B, Old Town (Casco Antiguo), Panama City
Size
• Construction: 2,475 m²
Property Features
• 4-story building
• 11 apartments currently operating for short-term rentals
• All apartments have balconies
• Fully furnished and equipped with appliances
• 3 commercial spaces on the ground floor
• Approximate monthly income of $14,000
• Approved conversion project for 27 Airbnb-style residential units
• Ideal for investors looking to expand accommodation capacity and maximize return on investment.

Unit Layout
Type A Apartments
• 78 m²
• 1 bedroom
• 2 bathrooms
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $950

Type B Apartments
• 70 m²
• 1 bedroom
• 1 bathroom
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $850

Penthouse
• 168 m²
• 3 bedrooms
• 2 bathrooms
• 2 living rooms
• Balcony
• Furnished
• Appliances included
• Approximate monthly rent: $1,500

Commercial Spaces
• 3 commercial spaces on the ground floor.
• Typical space size: 60 m².
• Approximate monthly rent: $900 per space. • Excellent potential for long-term rental agreements.

Area Amenities
• Steps from the Old Town.
• Close to the Coastal Strip and Balboa Avenue.
• Easy access to the Southern Corridor and main city thoroughfares.
• Surrounded by restaurants, bars, boutique hotels, plazas, and shops.
• Area with high tourist demand year-round.

Sale Price: $3,800,000
Price per m2: $1,535