THIS PROPERTY IS SOLD
This top producing island resort on Caye Caulker offers a Cap Rate of 10.5%!!!!! It is situated right on the beach of the beautiful Island of Caye Caulker in the Caribbean sea, just 22 miles from Belize City. A blend of Belizean and Mexican styles with the use of thatch, local woods and bright colors, the resort boasts 17 rooms, Reception/Tour office, Gift shop, bar/palapa lounge, Laundry and tool room/storeroom, Freshwater swimming pool, and wi-fi. It was just renovated to include 5 private hot tubs and a split level honeymoon suite with kitchen!
Built in 2004/5 by the current British owners in a beautiful location overlooking the Caribbean Sea and the Belize Barrier reef, it was constructed using reinforced concrete and block to a very high standard, offering one of the most luxurious and stylish accommodations on the island. This beachfront resort for sale in Caye Caulker has built a fantastic reputation for its excellent service and great location. The occupancy levels have averaged around 85% for the last 12 months (95%+ so far in 2012).
The island itself embodies the word “relaxed” with crystal blue sea, swaying palm trees, friendly people, great cuisine and amazing underwater scenery. The motto on Caye Caulker is ‘Go Slow’. The main mode of transport here is on foot or a bicycle, or if you get really lazy, a golf cart. The island is only 3 miles long and narrow at points so there is no way to get lost. Only a 5 minute boat ride out to the second largest barrier reef in the world and hundreds of world class dive sites within range, including the famous Blue Hole. The next island is Caye Chapel, an 18 hole world class golf course, only a 5 minute boat ride away.
The 17 rooms are made up of:
4 Free standing beachfront 18ft x 18ft Cabanas with great tropical features and Bamboo furniture. Each has a queen size bed, A/C, color TV with satellite, DVD player, refrigerator and private bathrooms with hot and cold water. These cabanas also each have a private roof deck with a hammock, sun-loungers, and now each comes with a private hot tub on the roof.
2 further cabanas measuring 18ft x 18ft, with the same features as above but having a traditional thatched roof and wooden balcony instead of the roof deck.
4 Ground floor rooms measuring 22ft x 11ft, each have 2 double beds, A/C, TV, refrigerator, Bamboo furniture, private bathrooms with hot and cold water, private balcony with local hardwood furniture.
4 First floor rooms, have the same features as the ground floor but have just one double bed. These rooms share one long balcony and also have locally made hardwood furniture outside each room.
1 additional first floor room has two double beds and all the same features as the other first floor rooms.
Last but not least, we have a first floor two-bedroom suite which has one bedroom with double bed and another with two single beds. Both have A/C and both have access to the shared bathroom. This suite also has a separate lounge area with TV, refrigerator and two comfy bamboo sofas.
Finally just added, is a new honeymoon suite that is set over 2 levels and includes a kitchen with granite worktop and a private hot tub and sunbathing area, beautifully decorated with high end fixtures and fittings.
All rooms are brightly painted in shades of red and yellow and decorated with a selection of local artwork on the walls.
Pool Area and Gardens
The square fresh water pool measures 15ft x 26ft. The depth reaches a maximum of 4ft in the deep end. Wooden decking is in place all around the pool and there are plenty of locally made hardwood lounge chairs and upright chairs for the guests to use. The area around the pool is sandy with borders of beautiful local tropical plants such as hibiscus and bougainvillea. There are several established palm trees at the front of the property and also access directly to the beach through a wooden gate in the bright yellow seawall. There is a nice shady corner under palm trees where guests can relax in hammocks.
Uno Mas Bar
Guests can enjoy freshly brewed coffee and cinnamon buns from the local bakery in our bar which is open daily from 8am. The bar also serves a wide range of local and imported beers and spirits and our bartenders can make an array of tropical cocktails. Internal steps inside the bar lead up to a thatched terrace with locally made hardwood tables and chairs. The bar closes at 10pm to avoid disturbing guests.
Reception/Tour Office & Giftshop
The reception/check-in desk is spacious and has two store cupboards (one for luggage and one for giftshop stock) and also a small private office with a large glass window looking into the main reception area. Here guests will check-in upon arrival, meet our friendly staff, complete their registration forms and then be shown to their rooms.
We also have a tour operator’s license and therefore can offer both guests and non-guests a wide selection of tours both on and off the island. Tours include snorkeling, sailing trips, fishing, manatee watching, mainland trips to view Mayan ruins. Our staff can also arrange for guests to have in-room massages or make appointments for guests with local salons and spa’s. The office has a large safe in which to store guest’s valuables.
The giftshop offers a wide selection of locally made jewellery, pottery, metal work, wood carvings and beachwear as well as postcards and stamps.
On the far side of the property we have a laundry room housing two heavy duty washing machines and two gas powered dryers. There is adequate shelving for the cleaning products and linens used in the guest rooms. There are two additional rooms here, one used as a storeroom for bar stock and the other used as a workshop/tool room.
Financials in USD
April 1st 2007 – March 31st 2008 Gross Income $623,967.28 Total Expenses $326,604.04 Net Profit $297,363.24 USD
April 1st 2008 – March 31st 2009 Gross Income $534,209.48 Total Expense $265,381.81 Net Profit $268,827.67 USD
April 1st 2009 – March 31st 2010 Gross Income $574,201.62 Total Expense $288,734.26 Net Profit $285,467.36 USD
April 1st 2010 – March 31st 2011 Gross Income $576,474.00 Total Expenses $285,227.68 Net Profit $291,246.32 USD
April 1st 2011 – March 31st 2012 Net Profit $302,000 USD
Jan 2012 – Dec 2012 Net Profit $324,000.00 USD
Jan 2013 – Dec 2013 Net Profit $365,000 USD
Jan 2014 – Sep 15 2014 Net Profit $321,000 USD
One of the ONLY properties in BELIZE with a 10%+ Cap Rate!
Looking for a Top Producing Island Resort, this is the one!