St. Croix, US Virgin Islands
2 Acres of Beachfront Land with Boutique Hotel
Excellent income producing consistent cash flow
Cottages by the Sea
Asking $9,999,000 USD
Cottages By The Sea presents an exceptional opportunity for the savvy investor to purchase a well-established, cash-flowing boutique hotel in St. Croix, USVI. Established in 1949, this amazing 2 acre tract of beachfront land features the most picturesque Caribbean views and has been extremely well maintained. As one of the longest-standing hotels on the island, it has an exceptional reputation and is often referred to as the “happy place” of frequent guests. The hospitality aspect of the property is composed of 28 cottages, each uniquely designed. The cottages are all named and are different sizes. Among the cottages, there are 23 full kitchens and 6 kitchenettes (no oven). Each unit also features keyless entry and covered outdoor areas (with the exception of one cottage).
On the grounds, immaculate tropical landscaping can be found at each turn. For guest convenience and enjoyment, there are two beachfront patios (with BBQ), on-site laundry, and a Yoga Deck. On a practical note, the property also features an on-site office, storage sheds, 3 parking lots, City Water/ Cisterns, and WAPA electric.
Ideally located on the West end of the island, this property is located only 1/2 mile south of the quaint town of Frederiksted, a popular place for day-trips among guests. This is a rare opportunity to add a highly-reputed, unique property to your portfolio in a favorable economic/tax environment.
This amazing property has a calm, clear, and pristine beach with minimal rocks and no sargassum or seaweed. There is a beautiful view of the cruise ships when they frequently arrive at the Frederiksted Pier to the north and to the south is the Sandy Point National Wildlife Refuge. The most stunning view is the spectacular and serene sunset.
The Snorkeling is the BEST!
WEBSITE – https://caribbeancottages.com/
Google Maps – click here for GOOGLE MAPS
Sale Information for Cottages by the Sea:
Asking Price:
$7,750,000 US Dollars
Please email us at cottagesforsale@cottagesbythesea.net
Offers will be accepted from:
July 13, 2023 until a valid purchase agreement has been signed.
Comparable Sales for Beachfront Hotels in St Croix that have recently sold:
· The Fred- $6,200,000
· Chenay Bay- 7,000,000
· The Palms- 10,500,000
Total = $23,700,000
Average price for the 3 hotels = $7,900,000.
Subtract $150,000 for lack of pools and restaurant:
Based on this, We are asking $7,750,000
Sale Includes:
· Almost Two Acres of Beachfront Property
· Profitable Boutique hotel with established and loyal year-round clientele
· Turnkey
· One family ownership – construction started in the late 1940’s
· Longevity – 80 years of Established Island business
· 28 Rent-able beach cottages – all of different sizes and all completely unique
· All units are named and have keyless entry, patios
· Most units have full kitchens (except Crew, Sylvia, Coco Bean, Cupcake)
· All units have bathrooms with showers
· All units have covered outdoor patio (except Cupcake)
· Two beachfront patios with BBQ
· Lush tropical grounds
· Front Office with kitchen and bathroom
· Commercial Laundry Room
· Guest Laundry
· Guest book nook, kayaks, bikes, beach toys, beach chairs and Cabanas
· Generator that can generate for the entire property
· Storage Sheds and some Lawn Maintenance Equipment
· 3 Parking Lots
· Yoga Deck (beachfront and uncovered)
· All units are fully furnished
Cottages by the Sea
127A Smithfield Rd.
Frederiksted, St. Croix USVI 00840
For More Information
Please contact Ruth Benedict Fox
cottagesforsale@cottagesbythesea.net
Established in 1949 by our Grandparents, Harold and Genevieve Benedict, Cottages by the Sea is a family owned and managed beachfront, boutique hotel, located on the western end of the beautiful, tropical island of St. Croix in the American Paradise of the United States Virgin Islands. Please read the “Our Story” page on this website, www.caribbeancottages.com, to get a full history of our family and our Cottages. .
Are you an investor looking for Tax Incentives?
90% reduction in corporate income tax
90% reduction in personal income tax
100% exemption on gross receipt tax
100% exemption on business property tax
100% exemption on excise tax payments
Reduction in the customs duty from the standard 6% to 1%
You could enjoy some tax benefits that are offered by the US Virgin Islands “Economic Development Commission Tax Incentive Program” Please check out their website at:
https://www.usvieda.org/incentives/edc-program
Are you a Real Estate Investor looking for Private Financing?
Please check out our “Private Money” Broker at:
https://privatemoneyexchange.com/aff-page-cs/doozycapital