The Lofty Fig Villas Property

Bay Street, Abaco, Bahamas

B$1,100,000

Commercial Property

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Description

Bedrooms 6
Bathrooms 6.0
3020sqft
Lot 1.38acres

New to the Abaco Market is the former Lofty Fig Villas. This 1.38 acre commercial tract of land has been a landmark on the Marsh Harbour tourism scene for the past 50 years.

The prime feature of the property is the 160 feet fronting Bay Street, which is arguably one of the most valuable locations in Abaco.

The key location is 100 feet to the newly rebuilt Conch Inn & Marina and 100 in the other direction is newly rebuilt Harbour View Marina. The Abaco Beach Resort is quarter mile to the north. This is as central as central gets to the growing activity of Marsh Harbour.

The parcel has a gentle slope from the road rising towards the rear of the parcel where there is an area of raised land adjoining Sunrise Bay Community on the south.

The 475 foot run from front to bank provides endless possibilities for redevelopment. There is currently very high demand for residential and commercial spaces in Central Abaco.

The configuration is well suited to a short-term residential enclave at the rear, while the front could have a selection of shopping and dining. Building vertical would allow for wonderful harbour views, a place to watch the watercraft ply back and forth, height restriction would tend to be set by the 3 story building next door.

Bay Street is the busiest thoroughfare on the island of Great Abaco and see tremendous vehicle and foot traffic. The newly rebuilt marinas have several different charter boat operations already going in full swing. This property does not include any harbour front but there is a possibility to acquire the waterfront site across the street. This is a chance to join in the very strong economic recovery of Abaco Island.

The Lofty Fig property has not yet been cleaned up. There are several damaged buildings on the site which include 3 villas, the office and laundry facility, and a large workshop and storage building at the rear. The 3 villa buildings contain a total of 6 one bedroom apartments with cozy porches overlooking Bay St. and the Harbour. Each apartment had a small kitchen.

The villa buildings have structurally sound exterior walls however the roofs and interiors would need to be rebuilt. The modest but inviting swimming pool onsite was just recently resurfaced in 2019 and with a new pump and a clean up, could be fully functional very easily. The villa buildings measure 840 sf each with two 100 sf covered porches. The office and laundry measures 500 sf. While the workshop storage building is very basic construction but useful to have and measures 660 sf. Landscaping has been neglected but could be restored to its former glory very easily.

Marsh Harbour is rebuilding and will very soon and once again be the boating capital of the Bahamas.

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Address

  • Address:Bay Street
  • Island:Abaco, Bahamas

Details

  • Bedrooms:6
  • Bathrooms:7.0
  • Living Area:3020 sqft
  • Lot Area: 1 acres
More Info

Amenities

Children Allowed
Enclosed Yard
Pets Welcome
Swimming Pool

Mortgage Calculator

Total loan

$ 1,100,000

Montly payment
$ 5,905
  • Total interest:$ 1,025,814
  • Total loan value:$ 2,125,814
  • Payment:Monthly

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