$5,000,000
St. Croix,
MLS# 24-1852
Status: Closed
43 beds | 46 baths
1 / 33
Property Description
THE PALMS HOTEL: Unique turn-key opportunity to acquire growing Caribbean Beach Front Resort with significant value-add development potential. Property comprises four contiguous parcels totaling 7.635AC and over 900 linear feet of sandy beachfront with gorgeous coral reef. Improved with approx 30,000 SF over six buildings. Resort currently has 43 guest rooms and suites.Prior owner had received (now expired) CZM approval to expand to 104 rooms. Buyer can investigate renewal possibilities for substantial upside. Large beach-side pool with adjacent restaurant and bar. Tennis court. Located in Opportunity Zone! Past owner had EDC benefits. Financials available to screened and qualified buyers only. See 'Documents' for more info and inventory of personal property included in offering.
Details
Maps
Documents
LocationArea
Estate: La Grande Princesse CO
Postal Code: 00820
Geo Lat: 17.762009
Geo Lon: -64.730789
Directions: From Christiansted, take Northshore Rd, turn right at Titan Gas station. After last speed bump, make right at The Palms Hotel sign and follow the road until Hotel. Lobby to the left after Tennis Court.
General Property Description
Sold Price: $5,000,000
Realtor.COM Type: Commercial
Lot Acres: 7.63
Approx. Sq Ft: 30000
Total Bedrooms: 43
Total Bathrooms: 46
Sub Type: 2-4 Multi Units
Taxes: 28743.28
Tax Year: 2024
Subdivision: The Palms at Pelican Cove
Year Built: 1966
Furnished: Yes
Water Front: Yes
Pool: Yes
Zoning: R-3
Stamp Tax: Paid by Buyer
Contract Information
Status: Closed
Under Contract Date: 2025-02-10
Current Price: $5,000,000
Begin Date: 2024-10-23
Sold Date: 2025-03-14
Sold Price: $5,000,000
Intended Use: Primary
Concessions: No
Miscellaneous
Air Conditioning: Split
PWD#: #142
View
Waterfront: Sandy Beach
Property Features
Sale Includes: Land/Bldg & Bus
View: Buck Island; BVI; East; North; North Shore; Ocean; Sea; St. John; St. Thomas; STT/STJ; Water
Amenities: Pool; Restaurant; Storage; Tennis Court
Room 12 Flo Plan 
Listing Office: Calabash Real Estate
Office Phone: 340-718-5285
Information deemed reliable but not guaranteed.