The appraised property is a lot on which a structure is built, currently used as a Restaurant Bar, located between 6th Avenue and 3rd Street in the sector of Coco de Mar in the township of San Francisco, district and province of Panama.
Calle 75 ½ Las Margaritas y Vía Porras, Local #1; Apartado 0830-00128, Panamá, R.P.
The appraised land measures 899.60 mts2, it is located in front of Avenida cincuentenario, on the corner of two streets; it is rectangular in shape with a slightly sloping topography.
MEASUREMENTS AND BOUNDARIES:
Northwest measures 18.17 m and adjoins with segregated lot.
Southwest is 47.99 m (47.99 ft) and adjoins 6th Avenue.
Southeast measures 18.42 m and adjoins 3rd Street (today Cincuentenario Avenue).
Northeast measures 51.03 m and adjoins with Calle al Coco del Mar.
The commercial premises are distributed as follows:
First floor: Restaurant area with bar and kitchen.
In a second structure of three levels, annex to the original, we find:
First floor: employee area with complete tiled restroom, storage rooms and toilet room.
Upstairs: restrooms for ladies and gentlemen and an office.
Roof-terrace: with metal structure canvas roof.
The lot has a parking area for 13 (thirteen) vehicles, in addition to 2 (two) parking spaces under roof and space to park approximately 9 (nine) cars facing the street. It is fenced with iron gates towards Eduardo Maduro Lindo street and block fence with an approximate height of 2.00 m, towards Cincuentenario Avenue and Andres Mojica Street.
The property is in good condition.
The property is located in the sector of Coco de Mar with zoning standard is RM3C2: High Density Residential and High Intensity Commercial which allows the construction of multi-family buildings, two-family, row housing, educational buildings, religious, institutional, cultural, philanthropic, offices, commercial premises, first floor, in addition to stores, offices, services in general, apartments. With a net density of up to 1,500 people/ha.
Coco del Mar is a very exclusive area near the Panamanian Pacific coast, located towards the outskirts, a few minutes away from Panama City and at the same time, close to the Historic Monument, known as Old Panama. It is a quiet area where you can appreciate the surrounding nature. Cincuentenario Avenue, of great vehicular and commercial movement, is part of one of the limits of the sector, connecting it with other important streets and avenues such as Calle 50, Corredor Sur and Via Israel.
The sector has all the facilities of physical and urban infrastructure such as concrete streets, public lighting, aqueduct, sewerage and telephone service. With access to restaurants, banks, supermarkets, gas stations, schools, hotels, public and private clinics, among others.