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Lakandula Drive, Legazpi City, Cruzada - Commercial
Commercial
About the Real Estate PropertyThe real estate property lies along Lakandula Drive, Barangay 40 Cruzada, Legazpi City, 4500 Albay at Region V, Bicol owned by a corporation named as Aytona Realty Development Corporation, a registered SEC company. (Picture inset shows the scope of the property at its 22 meter frontage along Lakandula Drive. Commercial building to its front is the True Money Remittance Center.)It is consist of two (2) parcel of lands namely (Lot 1272) & (Lot 1256-B-2) with a total area of 2,656 square meters, more or less. The two lots are categorized as Commercial Regular (CR) with a zonal valuation from BIR for 4th Revision dated 03 March 2020 amounting to P21,000.00 as per D.O. No. 006-2020. To date, the fair market value of said real estate could reached up to the average of P56,000 and there is no doubt that on the incoming 5th Revision, the BIR appraisal of the land could increased due to the continuous businesses along the Lakandula Drive-F. Aquende Drive, although to major extent the present pandemic has of course affected all the businesses. The two lots have improvements inside and at the front side along Lakandula Drive lies the RCT Batchoy, an eatery shown at Google Map.Some of the notable nearby businesses and significant institutions within the vicinity of the lot along and around the Lakandula Drive are the following: 1)Cosina De? Marina ? buffet restaurant2)Angelica?s Food Hauz ? caf?3)Air 21 ? courier service4)Pick and Bag ? general store5)Weekends Restogrill Restaurant 6)Our Mother of Perpetual Help ? catholic church7)Standard Gas8)Hotel Venezia9)The Marison Hotel10)La Piazza Hotel and Convention Center11)RedDoorz @ Golite Washington12)Cruzada Bending & Machine Shop13)Pick & Bag ? grocery store14)San Miguel Brewery Inc.15)Forbes AcademyThe subject property is suitable for investment as buildings for Hotel and Apartelle, Eatery and Restaurants are dominant in the location. However, due to the outbreak of the Covid-19 and the forecasted continuous leveling up of viruses around the world, the following trend of businesses is more adaptable for the location, viz: 1) Construction Company as the vast lawn could cope up for the parking of Heavy Equipment. Existing Construction Company in the area is the Jera General Construction & Supply which is around 900m away from the subject property; 2) Service Oriented Businesses like courier services, auto repair shops, etc., as the subject property has already existing improvement that could be used as offices and wide parking lots; 3) Manufacturing of Goodies and Foodies such as Misua and Noodle Making and other Food Items including Packaging for distribution to all classes of society appropriate during this time of crisis; 4) Support Logistics as Additional Warehousing for existing top and established businesses such as Puregold, SM, Gaisano and the like; 5) Apartments which would accommodate the growing regular employees and their families from their nearby place of employment.The subject property is for sale at the target range price from the average amount of P56,000 per square meter and so on and so forth.
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