SELL PRICE: $399,000 USD

LOCATION: Main St., Utila, Bay Islands, Honduras

PROPERTY TYPE: Commercial

PROPERTY DETAIL:

This historic landmark building known as the "Island House" was built by Samuel Warren, Utila's first white settler in the 1830's and was disassembled and relocated to its present location in East Harbor, Utila in 1864 and features a unique piece of the island's colonial heritage. Completely restored & modernized, this approx. 3000 sq. ft., two story, wraparound veranda building is a grand reflection of "days gone past" with its distinctive ginger bread Caribbean-Colonial style. The building and property command one of the most highly visible and desirable locations on Main St. with Hemingway-like ambiance and views of the harbor and points beyond.

"Island House" has been lovingly face-lifted and enhanced with a complete ground-up renovation including particular care and attention to it's history and authentic design with restoration of it's original long leaf pine lumber and colonial hardware, as much as possible. The building presently is home to a popular restaurant facility, Munchie's Cafe, on the first floor and the sale includes all equipment and/or lease buy-out options from the current Lessee.

Exquisitely designed in an Old World feel, the restaurant area offers a 19th Century-looking bar, a complete S.S. kitchen area, a small office space with window A/C unit, as well as two separate storage areas and a small outside bodega. Interior seating space is complemented with wide, outside veranda seating complete with ceiling fans and additional "outdoor" seating is also available in the covered arbor pavilion located in the back garden area. The rear area of the property is also home to some rather tame,hand-fed resident "Swamper" iguanas that are indigenous to Utila as well as one if the island's oldest and best-producing breadfruit trees.

The upper level or second story of the building was formerly occupied by real estate offices and could easily be converted into an on-site living quarters, a B&B vacation rental unit(s), or the multiple rooms with window A/C units and a separate complete bathroom could also lend itself to a plethora of other potential uses. Additionally, the larger upstairs office has a small 19th Century-looking mini-bar with kitchenette and ample counter space with upper/lower cabinets re-created from the building's original long-leaf pine lumber.

There are two primary entrances to the building from Main St. with a separate exterior stairway for the second story in addition to an interior porch stairway. This 0.14 acre downtown parcel includes 63 ft. of main street frontage, a private well, and landscaped grounds. Most recently, one of the few remaining cedar wood water tanks on the island from "days gone past" has been lovingly re-located & restored and serves as an additional emergency water source.

The entire property, building, furniture, business fixtures, liquor license and the domiciled Bay Islands S.A. corporation are included in the sale. All financial records, accounting books, and existing leases are open for inspection. By virtue of this investment, new owners will qualify for Free Trade Zone or Zolitur status by the central government of Honduras which includes a myriad of business and tax advantages/benefits. Foreign investors should also consider this potential investment as a great opportunity for a tax write-off via their U.S. or European corporation or their respective retirement plans(IRA, 401K, etc.) as a further means of portfolio diversification, especially in these present times of market volatility.....

 

 

 

Extensively renovated, this prime commercial building located in the heart of Utila presents the discriminating buyer with possibilities galore. This is a one time, rare opportunity to own a centerpiece of Utila, Bay Islands, Honduras history. Long -time island resident owners have recently re-located to the USA due to educational opportunities for their young son and are willing to insure a smooth operational turnover. Owners will also consider liberal owner-financing terms, if needed.