Building Details

Year built 2018

Listing Agency: Engel & Volkers Samara · Engel & Völkers s***@engelvoelkers.com Show Phone

Listed By: Pablo Fernandez

Added: Sep 22 Changed: Sep 23 Last Checked: Sep 24 at 4:06PM

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MLS# AM-5526266

Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This beachfront hotel occupies a 16,000 m2 estate and contains approximately 4,000 m2 of construction. The accommodation plan includes 18 units: 14 Deluxe Rooms and four oceanfront Junior Suites. Guest facilities include a restaurant and bar, separate adult and family pools, landscaped event areas, a private boardroom, beachfront hammocks, and an oceanfront dock. Renovation work completed in 2018 included electrical and plumbing updates, tropical landscaping, pool infrastructure, and a permitted private water well. The property is identified as having full beachfront title and no financial encumbrances.

Located in Playa Naranjo, Puntarenas, the hotel fronts the Gulf of Nicoya and provides access by ferry from the Central Pacific or by road from Liberia. The setting is described as peaceful, with calm waters and biodiversity, while on-site and nearby activities include kayaking, paddleboarding, boating, fishing, and nature excursions. Event areas can accommodate gatherings of up to 120 guests.

Key Highlights

• 16,000 m2 beachfront estate in Playa Naranjo, Puntarenas
• Approximately 4,000 m2 of hotel construction
• 18 accommodations: 14 Deluxe Rooms and four oceanfront Junior Suites

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$322,113

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.13%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$6,442,260 $6.4M

Cap Rate 7%

$4,601,614 $4.6M

Cap Rate 9%

$3,579,033 $3.6M

Market Conditions

NOI Build-Up for 43,056 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$775.0K $18.00/SF

− Vacancy

−$96.9K −$2.25/SF

EGI

$678.1K $15.75/SF

− OpEx

−$356.0K −$8.27/SF

NOI

$322.1K $7.48/SF

Area

DuPage County, IL

Vacancy

12.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$6,442,260

Cap Rate 7%

$4,601,614

Cap Rate 9%

$3,579,033

Alternative Uses

Best Use

Specialty Retail

$10.30M

$9.01M – $12.01M (±1% cap)

NOI $720,757 @ 7.0% cap · market cap 9.24%

Second Best

Hotel Hospitality

$4.60M

$4.03M – $5.37M (±1% cap)

NOI $322,113 @ 7.0% cap · market cap 4.13%

Theoretical Best

Office A

$14.87M

$13.01M – $17.34M (±1% cap)

NOI $1,040,569 @ 7.0% cap · market cap 13.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Hotels

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

654

Businesses Nearby

69k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 45%

McDonald's Dining

23,902 visits/mo 0.5 miles

Shell Shops & Services

15,379 visits/mo 0.3 miles

Burger King Dining

11,145 visits/mo 0.4 miles

BP Shops & Services

5,080 visits/mo 0.1 miles

Chase Bank Shops & Services

4,959 visits/mo 0.2 miles

Market

Vacancy Rate% for Retail in the U.S.

6.4% 2019

7.2% 2020

6.5% 2021

5.6% 2022

5.3% 2023

5.3% 2024

5.7% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this hotels located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Hotel - Full beachfront title, restaurant, boardroom, event areas, and separate pools support a diversified hospitality operation.

Where is this hotel located?

The property is located at Playa Naranjo Boutique Hotel Bensenville.

What is the asking price?

The asking price for this property is $7,800,000.

What are key features of this property?

This property features: 16,000 m2 beachfront estate in Playa Naranjo, Puntarenas; Approximately 4,000 m2 of hotel construction; 18 accommodations: 14 Deluxe Rooms and four oceanfront Junior Suites