€3,050,000

Commercial/Office Space for sale Faro
Property photo number 1 of 16 Photos for Property. File 83680482_1696_5afd591f7991206375c266fc355dc3b2.jpeg

Overview

SUMMARY: Discover an opportunity with this Faro commercial/office space for sale and available for €3,050,000. This could be your next ideal home or a smart investment. More details await.

Located in Faro, the capital of the Algarve and a strategic entry point for tourism in the south of Portugal, this hotel represents a rare opportunity with a usable rooftop offering an unobstructed view of the city and the Ria Formosa, constituting

a real lever of differentiation. High potential for transformation: - Creation of a rooftop bar / skybar (highly sought after in Faro) - Panoramic restaurant or premium brunch area - Lounge with swimming pool, jacuzzi or solarium - Event venue (weddings, private parties, corporate) This type of operation makes it possible to generate high revenues independent of the accommodation, while strongly enhancing the image of the establishment. An indicative projection with about 60 customers per day for a 25 ticket indicates revenues 547,500 / year. The hotel has a healthy and modular structure currently 30 rooms with private bathrooms. Significant flexibility: - Transformation into a design boutique hotel or lifestyle hotel - Creation of tourist suites or apartments The ground floor, sold in a more raw state, can be completely redesigned according to the buyer's vision. It can be rented to shops year-round, potential income 72,000 / year. The Algarve is the most dynamic tourist region in Portugal, with: - Average occupancy rate: 60-70% (up to ~80% in high season) - Average price per night in Faro: 90 to 155 depending on the positioning - Indicative projection of 30 rooms × 110 × 65% occupancy 780,000 in annual turnover (excluding rooftop and ancillary services) An ideal active ingredient for: - Investor wishing to create a differentiating hotel concept - Operator aiming to diversify activities (shops on the ground floor, hotel on the upper floors and bar on the rooftop) - A project with a high valuation via rooftop and upmarket *images modified via A.I.

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Details

  • Neighborhood: Faro (sé e São Pedro)
  • Beds: 30
  • Baths: 30
  • Price: €3,050,000
  • Reference No.: COM006
  • Year Built: 1961

Amenities

  • Home
    • Air conditioning
    • Close to the beach
    • Elevator
    • Central location
    • Terrace
    • Sea View
    • Close to golf course
    • Energy Certificate: in course

Location

Marketed by:

  • Arrabellimmo Terrasses & Jardins
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  • +351 215 876 793
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