An exciting business opportunity!
The over the water rentals is for sale. Keep reading to find out more.
About The Place
Over The Water Rentals began operating in 1997 and includes the first tourism business license issued in the country. It was initially started with the owners’ house, along with 2 additional long-term rental homes.
Over the course of 12 years, three additional American-styled homes were added to the property. Currently, the four additional homes are being rented as short-term vacation rentals.
In addition to the six buildings, there is a boat house, two storage bodegas, and two covered bike storage areas.
About Us
We are a family that has lived here for 25 years. We started this project with a vision of a lifestyle in permanent contact with nature that, at the same time, allows us to create a business that gives us an excellent economic return that we can manage ourselves and expand.
Our children grew up in a safe, beautiful environment surrounded by nature, practicing outdoor sports such as surfing, kayaking, biking, and more. All the time in contact with incredible people from all over, which allowed us to learn languages, share our culture with others, and receive the same, which makes us very happy.
Why Bocas?
Bocas del Toro (Panamá) with its international airport, constantly receives people from all latitudes. It is an excellent place to start a healthy life in contact with nature, its exuberant tropical vegetation, and the fauna only found in this part of the world.
Here you can live and enjoy the gastronomy rich in seafood and fruits, live the Caribbean culture, and do outdoor activities and water sports such as diving and snorkeling in the unbeatable Caribbean Ocean. The possibilities and opportunities for an incredible experience are limitless.
Key Business Features
89%
Occupancy Rate
Turnkey Business
Airbnb Super Host
Multiple expansion options
Business Information
Property Buildings
Over The Water Rentals has been managed since 1987 under a single ownership. It consists of 6 homes, built over the water connected by a collection of cement and wooden walkways over 3 Waterfront lots in the Bay of Saigon on the Main Island of Isla Colon in Bocas del Toro, Panama.
In 1989, the corporation was established to operate the first tourism business in the country, and the first tourism license was issued to the owners. This license includes all available tourism business ventures.
It allows the future owners of Over The Water Rentals to open and operate any number of businesses going forward within the tourism industry. The Pink House (now Orange) was constructed as the owner’s home.
At that time, The Blue House was purchased, and the Dock House was constructed to operate a long-term rental business in 2007; the Orange House was constructed, and the 2 Purple Houses in 2009. The Orange and Purple Houses are American-styled structures, each with 2 bedrooms, bathrooms, living spaces, outdoor relaxation, and el fresco dining areas.
In 2020, the Pink House was replaced with the Yellow House, a 3-bedroom house with a Reception area, Laundry facilities, indoor storage, 1.5 bathrooms, and a large family kitchen. The deck was extended to accommodate dining, relaxation, and yoga practice areas.
In 2021, the Dock House underwent upgrades to create a 3 bedroom home upstairs with space and facilities for a restaurant on the bottom floor. The ‘Blue House’ has undergone some upgrades over the years.
Online Presence
In 2010, Over The Water Rentals developed its website, joined Airbnb, and offered short-term rentals. Throughout the last decade-plus, the business has increased its occupancy to 89% pre-covid and 72% for 2021.
We currently receive around 40% of our bookings through our website and social media and 60% through Airbnb, where we have had super host status for 6 years.
There is extensive opportunity to increase occupancy by taking advantage of other online platforms and increased social media presence.
Property Features
In addition to the structures on the property, it also includes:
Business Expansion
Dock House Restaurant
Whilst the owners live in the ‘Dock House,’ the building has been renovated to accommodate a restaurant and bar. There is an ideal restaurant location with extensive seating space inside on the ground floor, along with the large deck and additional ‘Boat House’ deck.
We have recently had a growing number of guests request meals to be prepared, including a great demand for breakfast. With the growing number of accommodations in the area, there is a growing demand for this service. As the property faces sunsets, it is also an ideal location for dinners.
Additional Rental Opportunity
The water concession allows for further development beyond the present built line, so additional accommodations could be built, as shown in our mock-up design plan.
By replacing the oldest structure, ‘Blue House,’ with either:
- an inverted duplicated design of the present rental homes will instantly double your rental potential or, alternatively
- additional bed and breakfast-styled accommodations with ensuite bathrooms.
Check Out The Galery
Included In Our Asking Price
For more information, let’s have a chat!
If you have any questions about availability or about Bocas del Toro, then please feel free to contact us through the contact form below.
You can also give us a call – 507.757.9516 / WhatsApp – 6401.9021