Commercial Building For Sale In Nassau The

Description

Commercial Building For Sale In Nassau The Bahamas

Esales Property ID: es5554525

Property Location

Prison Lane

Nassau

The Bahamas

Property Details

A Prime Redevelopment Opportunity in the Heart of Nassau: Prison Lane Property

In the vibrant heart of Nassau, The Bahamas, a unique and compelling redevelopment opportunity presents itself: a substantial 21,263 square foot property located on Prison Lane, strategically positioned off East Street North, in the historic precincts of Fort Fincastle. This one-of-a-kind parcel offers unparalleled potential for a variety of projects, particularly within the thriving tourism sector, due to its exceptional proximity to major attractions.

Strategic Location and Unmatched Tourist Proximity:

The property’s location is its most significant asset. Situated just seconds from two of Nassau’s most frequented historical landmarks, the Water Tower and the Queen’s Staircase (also known as the 66 Steps), it benefits from a constant stream of tourist traffic. Furthermore, it is only minutes away from the bustling downtown area and the newly developed cruise port, a gateway that welcomes thousands of visitors to Nassau each week.

The current challenge of parking and safe tourist drop-off at the Water Tower and the Queen’s Staircase is a well-known issue. This property offers a solution, as its size and configuration allow for the creation of a roundabout or similar safe drop-off and pick-up area. This would alleviate traffic congestion and provide a safer, more efficient experience for tour operators and visitors alike.

The property’s proximity to the straw market also presents a significant commercial advantage. Tourists could be safely dropped off, explore the historical sites, and then easily access the straw market for shopping, creating a seamless and convenient tourist experience.

Redevelopment Potential and Diverse Project Opportunities:

The expansive size of the property allows for a multitude of redevelopment possibilities. Its location and accessibility make it particularly well-suited for tourism-related ventures, such as:

* Boutique Hotel or Resort: The property’s proximity to major attractions and the cruise port makes it an ideal location for a boutique hotel or resort. This would cater to tourists seeking a unique and convenient accommodation option.
* Tourist Hub and Retail Complex: A multi-use development incorporating retail spaces, restaurants, and tourist information centers could create a vibrant hub, capitalizing on the constant flow of visitors.
* Cultural and Historical Center: The property could be transformed into a cultural and historical center, offering interactive exhibits, guided tours, and educational programs that showcase the rich heritage of Nassau.
* Entertainment and Event Space: The property’s size and location make it suitable for an entertainment and event space, hosting cultural performances, festivals, and other events that attract both locals and tourists.
* Parking and Transportation Hub: Addressing the current parking and traffic challenges, the property could be developed into a dedicated parking and transportation hub, providing safe and convenient access to the surrounding attractions.

Beyond tourism, the property could also be used for other commercial or residential projects, depending on the developer’s vision and the local zoning regulations.

Investment Opportunity and Flexible Terms:

This exceptional property is offered for sale at $6.5 million, representing a significant investment opportunity in one of Nassau’s most desirable locations. Alternatively, the entire yard can be rented for $12,000 per month, providing a flexible option for businesses or developers seeking a temporary or long-term presence.

The opportunity to purchase or rent this property presents a unique chance to capitalize on the thriving tourism industry in Nassau and contribute to the city’s ongoing development.

Nassau’s Growing Tourism Sector:

Nassau’s tourism sector is experiencing continuous growth, driven by the increasing popularity of The Bahamas as a premier vacation destination. The new cruise port, in particular, has significantly boosted visitor numbers, creating a strong demand for tourism-related services and amenities.

The city’s commitment to enhancing its tourism infrastructure and attractions further enhances the appeal of this property. The ongoing development of new hotels, resorts, and entertainment venues creates a favorable environment for investment and growth.

The Appeal of Nassau and The Bahamas:

Nassau, the capital of The Bahamas, offers a unique blend of natural beauty, cultural heritage, and modern amenities. The city’s pristine beaches, crystal-clear waters, and vibrant atmosphere attract visitors from around the world.

The Bahamas’ stable political a