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119 Acres Belize Airport Road Property

Full Description: The subject property Rio Maya Estates (118.930 acres) is located in the immediate area of the Philip Goldson International Airport, Belize City, Belize, and Central America. This property is the largest undivided area of land within the International Airport area and has direct frontage along and access to the “Philip Goldson International Airport Access Road”. The subject property has approximately 4000 feet of frontage on the Belize River. This scenic and navigable river is the fresh water source for the nearby soft drink factory and brewery illustrating its protected status, good environmental health´ and potential as a fresh water source for the property. Access to the nearby Caribbean Sea using the Belize River is only minutes away. The property as a whole offers a broad range of development and conservation possibilities in a location that combines security, transportation/access and scenic beauty. The land is uniquely situated on the `fringe´ of the International Airport of Belize property. The land area will support a sophisticated mix of residential and commercial development incorporating the unique environment to the benefit and enjoyment of the developer. The combination of easy access to and from the Belize International Airport as well as the rest of the country makes the property location an ideal point of entry, departure or end use destination for persons visiting Belize for business or pleasure and for those persons living in Belize. Nearby Mexico and Guatemala are only a few hours drive from the `airport site´. CURRENT VALUE The most recently conducted review of available land for sale in the airport area proper indicates there is active interest in the land near the International Airport but acreage available for purchase remains scarce. The only land actually on the market for sale, is nearby Parcel 60, a 14 acre parcel of land with no river frontage. The land is being offered for ($1,575,000.00 USD´s) or about ($112,500.00 USD´s) per acre. These sellers are not speculators. Both owners have owned the properties for many years and in the case of our seller, more than 85 years. The listing price of the subject land is well below the market price. The prices for property within the International Free Zone near the airport are being offered at US$250,000.00 per acre to a discounted price of $200,000.00 USD per acre if you purchase 5 acres. If we took the mean price between the lower of $112,500.00 USD and the higher at $200,000.00 USD per acre the average is $156,250.00 USD then 118.930 acres would potentially be worth $18,582,812.50 USD. A recent independent valuation report of the subject property places a value of $19,916,000.00 or US$9,958,000.00 (a copy of the appraisal report available upon request) Development plans for the Airport include expansion of the terminal and parking facilities. These plans will further limit availability of nearby property that might be placed on the open market in the future. A `duty free zone overlay´ on the subject land is a possibility. This would increase the variety of uses and the market value. In such a case one could select a suitable area and sell commercial lots not acres. Given the airport expansion plans, the new political climate and the general interest in Belize investment opportunities, the projected valuation on the property will be substantially higher than the purchase price currently offered. ACCESS The subject property has direct and ample access to the Philip Goldson International Airport Road, the newly constructed roadway built exclusively for the International Airport and a few nearby properties. An all weather road connecting the Philip Goldson International Airport Road and the Belize River’s northern bank runs directly through the subject property The subject property controls 100% of the frontage on both sides of this all weather roadway. Discussions concerning the possible construction of a bridge and an alternative access road, through the subject land using this roadway easement to approach the International Airport from the Western Districts and bypass Belize City has not been verified but is a most practical solution. No confirmation on immediate plans to build such a bridge and highway as yet but does make sense since the Haulover Bridge at Mile 5 N. Hwy is the only access from Belize City to cross the Belize River. The roadway now provides the owner with a very well constructed access road through the middle of the subject land. The subject land also has over 4000 feet of frontage on the navigable Belize River. This frontage offers direct links to the Caribbean Sea and up-river locations offering a variety of secondary transportation links. The 66 foot river reserve does not prohibit use of the setback for a variety of non-permanent uses including docking facilities. The airport terminal facility is clearly visible from the property and the property has excellent existing access from air, roads and water. ZONING There is no formal zoning code affecting the property and permitted uses include commercial, residential and agricultural. There are currently restrictions on the use of the property for livestock grazing and there would be a height restriction on construction; both restrictions are the direct result of the proximity of the Philip Goldson International Airport and safety factors. TOPOGRAPHY The subject land is basically elevated and flat with some lower variations due to the seasonal flow of water in specific areas of the property. These areas, affected by water, are consistent in location over time. These areas do not adversely impact the suitable building sites or access points and will be useful in storm water management plans and as conservation /open space areas as required under most plan approvals. The overall topography and lay of the land lends itself well to development. There is ample high ground suitable for large and small scale development with excellent access to all portions of the land. SOILS The soil composition of the subject land is suitable for building. The nearby Airport facility and nearby luxury homes offer an example of the variety of construction types that the soils in this area of Belize can and do support therefore the land and the soils in the property do not present an unusual challenge of planning and building which is typical of the immediate surrounding areas. The subject property offers a wide variety of building sites and each would individually require clearing, grading and appropriate site preparation as was the normal procedure for successful construction in and around this area of Belize and Belize City.

Location Map

Price

BZ Price: $13,000,000
US Price: $6,500,000

Features

Address: Ladyville
City: Belize District
District: Belize
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Agent

Caribbean Property Development Limited

Phone: +501-223-2588
Emailjanine@cpdl.bz

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