San Felipe

Panama | Panama City

A Breath of

Altitude Air

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Iary Pere

Presented At

$6,100,000

Living

19,376

SQFT

Stories 4

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 1

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 2

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 3

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 4

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 5

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 6

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 7

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 8

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 9

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 10

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 11

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 12

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 13

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 14

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San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. - Photo 16

San Felipe

Panama | Panama City

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama. , Panama , Panama City

Fully Restored Commercial Building Prime Investment Opportunity – Casco Viejo

Nestled in the heart of San Felipe (Casco Viejo)—Panama’s most iconic and historic district—this fully restored commercial building represents an exceptional value-add investment opportunity within a UNESCO World Heritage Site. With 1,377 m² of total construction, the property currently operates as an office and commercial asset, while offering the structural capacity and approved layout potential to be redeveloped into 18 boutique residential apartments, ideally suited for short-term rental operations in one of Panama’s highest-demand tourism and lifestyle markets. The ground floor features prime retail spaces, presently leased to two of Panama’s most recognized and reputable brands: Fonda Lo Que Hay and Felipe Motta, providing stable income, strong tenant covenants, and long-term reliability. A truly rare feature in Casco Viejo, the property includes 31 private parking spaces, significantly enhancing both its commercial value and future residential appeal. Property Highlights Land area: 760 m² Total construction: 1,377 m² Retail area: 1,046 m² Office area: 651 m² Parking area: 103 m² (31 parking spaces) Private rooftop terraces with open city and historic district views—ideal for conversion into exclusive penthouse units or premium shared amenities Whether maintained as a cash-flowing commercial asset or repositioned into a boutique residential development, this property offers exceptional upside potential in one of Panama City’s most sought-after and supply-constrained locations. An ideal acquisition for institutional investors, developers, or private buyers seeking a high-performing asset with long-term appreciation in a historic district undergoing continued revitalization.

Exterior

Property

Gallery

3D Street View Tour

Property Location

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama., Panama Panama City

Local Weather & Climate

Panama, Panama City

Current Conditions Updated recently

86 °F

Few clouds

Feels Like 92°F

Humidity 64%

Wind 13 mph

Visibility 6.2 mi

Sunrise 11:39 AM

Sunset 11:21 PM

5-Day Forecast

Mon 26 Jan

Rain

High 89°

Low 86°

Tue 27 Jan

Clouds

High 88°

Low 74°

Wed 28 Jan

Clouds

High 85°

Low 73°

Thu 29 Jan

Clouds

High 88°

Low 72°

Fri 30 Jan

Clouds

High 85°

Low 72°

Data from OpenWeatherMap

Walkability & Transit Scores

How easy is it to get around Panama?

Walkability and transit scores for this address come from the EPA National Walkability Index.

Mortgage Calculator

Estimate your monthly payments for this property

Home Price

Down Payment

$100,000

Interest Rate

Loan Term

Estimated Monthly Payment $3,160

Monthly Payment Breakdown

Principal & Interest $2,528

Loan Amount $400,000

Total Interest $337,621

Total Cost $737,621

Potential Tax Benefits (United States)

$0 Est. First Year Interest Deduction

$0 Est. Annual Tax Savings

*Based on post-2017 tax law. Actual deductions depend on filing status, itemization, and current tax laws.

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Important Information

This calculator is for illustrative purposes only and does not constitute a loan offer, pre-approval, or commitment to lend.
Monthly payment estimates do not include property taxes, homeowner's insurance, HOA fees, or other applicable costs which may significantly increase your actual payment.
Interest rates shown are for demonstration only. Actual rates depend on your credit score, down payment, loan type, property location, and current market conditions.
This tool provides estimates only. Consult with a licensed mortgage professional for accurate quotes and personalized advice.
Tax benefit calculations are simplified estimates based on general assumptions for United States. Actual deductions depend on your specific tax situation, filing status, and current tax laws.
Tax Year Information: Tax data shown is based on United States tax year 2025 (fiscal year: January-December), rules effective from 2018 through 2025. Tax laws change frequently and may have been amended since this data was compiled.

Tax Information Disclaimer

The tax benefit information displayed on this page is provided for general informational and educational purposes only. This information:

Does not constitute tax advice and should not be relied upon as such. Tax laws are complex and vary by jurisdiction, individual circumstances, and are subject to change without notice.
May not be current or accurate for your specific situation. Tax rules are updated frequently by governments, and the information shown may not reflect the most recent changes.
Uses simplified assumptions that may not apply to your circumstances, including filing status, total income, other deductions, alternative minimum tax considerations, and local tax variations.
Should not be used as the basis for any tax planning decisions or financial strategies without consulting a qualified tax professional licensed in your jurisdiction.

Before making any decisions based on potential tax benefits, you should consult with a qualified tax advisor, certified public accountant (CPA), or licensed tax professional who can evaluate your specific circumstances and provide advice tailored to your situation.

Limitation of Liability: By using this calculator, you acknowledge that all results are approximations and should not be relied upon for financial, legal, or tax decisions. openluxe, its affiliates, officers, directors, employees, and agents expressly disclaim all liability for any damages, losses, or consequences arising from the use of or reliance on this calculator or the information provided herein. openluxe is not a lender, financial advisor, or tax professional and does not provide mortgage loans, financial advice, or tax advice. Use of this calculator does not create any professional relationship.

$6,100,000

San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama.

Panama, Panama City

19,376 Sqft

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Market Opinion

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Our perspective on current market conditions in Panama. For informational purposes only — always consult a licensed real estate professional before making decisions.

Market Analysis

International luxury real estate typically appreciates steadily over time.

Buyer Score

Estimated regional appreciation: 4% annually

Ultra-luxury properties tend to be more resilient during market downturns

Future Value & Wealth Building

Starting investment: $610,000,000 20% down ($122,000,000)

Investment Perspective

$1 → $1.36

Every dollar invested today could become $1.36 in 10 years

$100 → 136 $1,000 → $1,362

$52,417/day

Your home may appreciate while you sleep

$367,928/week $1,594,355/mo $19,132,263/yr

$100K Investment Comparison (10 Years)

Real Estate (Leveraged)

$281K

S&P 500 Index

$259K

High-Yield Savings

$155K

Real estate leverage: potential 8% advantage over stocks

-$335.7M

+$476.1M

$476.1M Potential Equity

vs $335.7M lost to rent over 10 years

$122.0M Down Payment Growth

3.9x

10yr

$476.1M

8.1x

20yr

$985.8M

12.6x

30yr

$1,540.6M

Wealth Comparison

×3,668

Equivalent to 3,668 average US homes

top 5%

US household wealth ranking

Median: $193K Yours: $1,540.6M

Time to Double Your Investment (accounting for market cycles)

42.4

years

Conservative

1.65% effective/yr

22.4

years

Market-Based

3.14% effective/yr

15.3

years

Optimistic

4.62% effective/yr

Projected Home Values (adjusted for market cycles)

10 Years

Conservative $718.4M +18%

Market $830.7M +36%

Optimistic $958.6M +57%

$476.1M est. equity

20 Years

Conservative $846.0M +39%

Market $1,131.3M +85%

Optimistic $1,506.4M +147%

$985.8M est. equity

30 Years

Conservative $996.3M +63%

Market $1,540.6M +153%

Optimistic $2,367.4M +288%

$1,540.6M est. equity

These projections are estimates only and actual results may vary. Past performance does not guarantee future results.

Important Disclaimer

The information presented in this Market Opportunity Opinion is provided for informational and educational purposes only and should not be construed as financial, investment, legal, or real estate advice. This analysis represents our opinion based on publicly available data and should not be relied upon as the sole basis for any real estate or investment decision.

No Guarantee of Accuracy: While we strive to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the data, projections, or analysis contained herein. Market conditions can change rapidly and unpredictably.

Not Professional Advice: This content does not constitute professional real estate, financial, or investment advice. We strongly recommend consulting with qualified professionals—including licensed real estate agents, financial advisors, attorneys, and tax professionals—before making any real estate or investment decisions.

Past Performance Disclaimer: Historical data and trends presented do not guarantee future results. Real estate markets are subject to numerous factors beyond the scope of this analysis, including economic conditions, interest rates, local regulations, and unforeseen events.

By viewing this information, you acknowledge that you understand these limitations and agree that the property owner, listing agent, brokerage, and platform providers shall not be held liable for any decisions made based on this analysis.

Data from World Bank and regional real estate market research | Estimates based on historical appreciation trends

Frequently Asked Questions

Common questions about this property

What is the size of San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama?

This property offers 19,376 square feet of living space.

What is the listing price for San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama?

This property is listed at $610,000,000, which equals $31482 per square foot.

Is now a good time to buy a home in Panama?

Based on current market indicators, Panama shows an active market. The market opportunity score is 65 out of 100, reflecting factors like price trends, inventory levels, and days on market.

What type of property is San Felipe, Panama City, Panamá Province, Panama, Panama City, Panama, Panama?

This is a house located in Panama, Panama City. The property is situated in an established neighborhood with convenient access to local amenities and services.

Brokerage: