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Property Detail

#5 Palm Grove

For Sale George Town, Cayman Islands
CI$425,000 MLS# 416020
  • 782
  • 0.3484
  • 2011
CIREBA MLS LDX feed courtesy of WILLIAMS2 REAL ESTATE

Description:

Ideal Business Location

Welcome to Palm Grove, a commercial office building ideally located in central George Town, on the corner of Smith Road and Huldah Avenue. Purchasing office space at Palm Grove will provide you with a perfect location on one of Cayman’s busiest intersections, so your company and brand can benefit from lots of drive bay traffic. Owners get to take advantage of the ability to put signage and branding on the exterior of the building, so a great location to get exposure for your company.

Palm Grove is a 2-story building consisting of 6 units in total, with 3 on each level. When the current owner purchased the building, it was refurbished, and insulation and sound proofing was installed.

Great Size

This unit is located on the upper level (there is an elevator) and is a middle unit which consists of just under 800 sq. ft. of usable space. It is currently set up an a large open-plan office, with one smaller store room/office at the side. You could easily reconfigure this space to suit your needs. The unit comes with its own private bathroom.

Energy Efficient – Part of the CUC SOLAR CORE Agreement

A tremendous benefit of owning at Palm Grove, is that the building has solar panels and is part of the CUC CORE agreement, so you will get credits again your power bills. Each unit in Palm Grove has its own electrical metre and water metre and 2 dedicated parking spots, plus customer parking.

Professionally Run Building

Kuavo Property Management have recently been engaged to take over the running and maintenance of the building. It will give you peace of mind knowing that the common areas and building exterior of the building are professionally maintained.

Reasonable Strata Fees

For a commercial building in central George Town the annual strata fees are very reasonable and include the electric and AC for the common areas, common area AC maintenance, the elevator maintenance, common area cleaning and maintenance and upkeep of the exterior including the parking lot, garbage fees and landscaping. Most importantly it includes hurricane insurance for the property.

Close to Everything

Just 2 minutes from the Government Administration Building, George Town’s commercial hub and the airport. The building is wheelchair accessible.

Use Yourself or Buy as an Investment

If you are looking for an investment property, the unit is currently tenanted, and tenants are paying CI$34,200 which is probably under current market rate. There is a good opportunity to increase the rent to market rate and increase your Return on Investment. Bear in mind that George Town commercial property has historically increased in value in recent years, so there is a good possibility of future capital appreciation on your asset.

If you are looking to self-occupy, what better place to locate your office. Plus, if you need more than 800 sq ft. the adjoining units on either side (units #4 and #6) are also available for sale. It would be easy to knock down the adjoining walls and reconfigure to suit your needs.

Locate to this prime office space in central George Town

Reach out today for a viewing, before this prime office space gets snapped up.

How do you want to live your life?

Property Details:

Property Type: Commercial
Listing Type: Offices/Mixed Use
Property Status: Current
Sq. Ft.: 782
Acreage: 0.3484
Year Built: 2011
Address: Smith Road, George Town
Views: Inland
Block: 14D
Parcel: 65H5
Foundation: Slab
Zoning: Commercial
Furnished: No
Road Frontage: 230

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*Disclaimer: The information contained herein has been furnished by the owner(s) and or their nominee and represented by them to be accurate. The listing company, agent and CIREBA MLS disclaims any liability or responsibility for any inaccuracies, errors or omissions in the represented information. The listing details herein are also courtesy of CIREBA (Cayman Islands Real Estate Brokers Association) MLS and/or via LDX (Listing Data Exchange) feed. All the information contained herein is subject to errors, omissions, price changes, prior sale or withdrawal, without notice and is at all times subject to verification by the purchaser(s).

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