Santa Teresa has become one of Costa Rica's most sought-after destinations for buyers looking beyond a traditional holiday home. For investors, the appeal is not simply the beach. It is the combination of international tourism, surf culture, restaurants, walkability and the opportunity to operate a hospitality business in one of the Nicoya Peninsula's most recognised coastal communities.
For buyers looking for an established hospitality asset, this 9-room boutique hotel for sale in Santa Teresa presents an opportunity to acquire an operating property in a prime central location, approximately a two-minute walk from the beach.
Listed at $2,450,000, the property combines nine rooms, 10 bathrooms, a swimming pool, approximately 960 m² of floor area, parking and an existing short-term rental operation. The property was built in 2023 and is positioned close to restaurants, shops, supermarkets and everyday services.
For an investor who wants both a Costa Rica lifestyle and an operating hospitality asset, the location is one of the property's strongest advantages.
Investment Snapshot
- Asking price: $2,450,000
- Location: Santa Teresa, Puntarenas, Costa Rica
- Property type: Boutique Hotel
- Bedrooms: 9
- Bathrooms: 10
- Floor area: Approximately 960 m² / 10,333 sq ft
- Lot size: Approximately 432 m² / 0.11 acres
- Year built: 2023
- Parking: 7 spaces
- Pool: Yes
- Furnished: Yes
- Current operation: Income-producing and marketed through short-term rental platforms
- Beach access: Approximately a 2-minute walk
Why This Santa Teresa Hotel Stands Out
The strongest investment characteristic of this property is the combination of location, scale and existing operation.
The hotel is arranged across three levels and includes seven fully operational guest suites, alongside a staff room and an owner's unit. Each guest suite is approximately 50 m² and includes a private bathroom and terrace, with garden or mountain views.
The accommodation is designed for the expectations of international travellers, with king beds, quality linens, blackout curtains, mosquito nets, sofas, wardrobes, safes, flat-screen televisions and high-speed Wi-Fi.
There is also a swimming pool, common areas and on-site parking.
Importantly, the property is already operating rather than being presented solely as a future development opportunity. The existing staff and owner's areas may also offer additional accommodation potential, subject to the appropriate feasibility assessment, permits and approvals.
That creates an interesting proposition for an experienced hospitality operator: acquire an existing business, maintain the current operation and investigate where operational improvements could increase performance over time.
A Two-Minute Walk to the Beach
In Santa Teresa, proximity to the beach can have a significant impact on the appeal of a hospitality property.
This hotel is positioned approximately two minutes from the beach, allowing guests to access the coastline without relying on a car or ATV for every trip. That walkability also puts restaurants, shops and other services within easy reach.
For a short-term rental or boutique hotel, this matters because convenience becomes part of the guest experience.
The property is not beachfront, and it should not be marketed as such. Instead, its strength is central, walk-to-beach positioning, which provides a different proposition from hillside properties that depend more heavily on views and vehicle access.
Santa Teresa's Surf and Lifestyle Appeal
Santa Teresa's identity is closely connected to surfing and outdoor living.
The coastline attracts surfers of different experience levels, while the surrounding area provides opportunities for swimming, yoga, wellness activities, nature experiences and exploring the wider Nicoya Peninsula.
For hotel investors, this lifestyle appeal creates a broad guest proposition rather than relying exclusively on one type of traveller.
Guests can spend the morning surfing, walk to lunch, return to the pool, explore local restaurants in the evening and enjoy the surrounding tropical environment without needing to leave the immediate area.
That combination of beach access and lifestyle convenience is one reason central Santa Teresa remains an important location to consider when comparing hospitality investments.
Restaurants, Shops and Everyday Convenience
Santa Teresa has developed into much more than a surf destination.
The town offers a broad selection of restaurants, cafés, shops, wellness businesses and services catering to both international visitors and residents.
For a boutique hotel, being close to these amenities can be commercially valuable because guests are able to build much of their holiday around the immediate neighbourhood.
This is particularly relevant to international visitors who may not want to rent a vehicle for every part of their stay.
The featured hotel benefits from this central positioning, with restaurants, supermarkets, shops and essential services nearby.
What About Ocean Views?
Ocean views are an important part of the Santa Teresa real estate market, but they are not the primary selling point of this property.
The guest suites are described as having garden or mountain views, while the property's key advantage is its central location and proximity to the beach.
That distinction is important for buyers comparing different Santa Teresa investments.
Some properties command a premium because of elevated ocean views, larger land parcels or privacy. Others compete through walkability, rental convenience, commercial positioning and proximity to the beach.
For this hotel, the investment proposition is much more closely connected to location, accommodation capacity and existing hospitality use than to an ocean-view premium.
What Is the Water Situation in Santa Teresa?
Water should be treated as a core due diligence issue when purchasing property in Santa Teresa.
Water availability and infrastructure can vary between properties and locations. Depending on the property, water may come from an ASADA, a registered well or another approved source.
Buyers should therefore request documentation confirming the property's actual water source, capacity and legal status rather than relying solely on verbal representations.
This is particularly important when purchasing a hotel because water requirements can be substantially greater than those of a private residence.
Before completing a transaction, an investor should review the property's water documentation alongside title, zoning, permits, utilities and other technical due diligence.
Learn more about buying property in Santa Teresa
Can Foreign Buyers Purchase Property in Costa Rica?
Costa Rica is an established market for international property buyers, but the legal structure of a purchase matters.
Foreign buyers can generally purchase titled property in Costa Rica under the same ownership framework as Costa Rican citizens. However, special considerations can apply to properties within the Maritime Zone and to specific concession arrangements.
A hotel purchase also requires more than simply reviewing the physical building. Buyers should investigate title, corporate ownership where applicable, zoning, commercial use, permits, water rights or supply documentation, tax status, existing contracts and the legal structure of the operating business.
Professional legal and financial advice should be obtained before signing a purchase agreement.
What About Private Lending?
Private lending can be one of several financing routes considered by international buyers purchasing Costa Rica property.Depending on the buyer's circumstances and the asset, potential funding strategies can include:
- Private lenders
- Financing secured against assets in the buyer's home country
- Equity from an existing property portfolio
- Local bank financing where available and appropriate
- Seller or developer financing where offered
- A combination of cash and external financing
For a hospitality acquisition, investors should also model debt service against the property's actual historical financial performance rather than relying on projected occupancy or optimistic revenue assumptions.
Look at the Numbers, Not Just the Location
A beautiful hotel in a desirable destination is not automatically a good investment.For this property, the fact that it is already operating and generating income is an important starting point, but buyers should request the underlying financial documentation before assessing its return potential.
A serious hotel acquisition review should include:
- Historical occupancy
- Gross room revenue
- Net operating income
- Operating expenses
- Booking-platform statements
- Payroll and staffing costs
- Utilities
- Maintenance and repairs
- Property taxes
- Insurance
- Management fees
- Marketing expenses
- Existing supplier contracts
- Historical and current booking data
Are There More Affordable Properties Under $1 Million?
Yes. Santa Teresa's current inventory includes residential and income-producing properties below the $1 million mark.
For example, the current Coldwell Banker Sunset Reef Realty inventory includes a turnkey four-bedroom villa listed at $990,000, while other Santa Teresa properties are available at lower price points.
However, comparing a $990,000 villa directly with a $2.45 million operating hotel is not an apples-to-apples comparison.
A residential property may offer a lower entry price and potential rental income, while a hotel provides substantially greater accommodation capacity and an existing hospitality business model.
The right choice depends on the buyer's objectives, available capital, desired involvement and investment strategy.
Explore Santa Teresa properties for sale
Have Prices Been Reduced in Santa Teresa?
There are currently examples of price-reduced properties within the Santa Teresa market.
One current example is the Buddha Apartments in Playa Carmen, a six-unit income-producing property listed at $715,000 and specifically marked as a price drop on the Coldwell Banker Sunset Reef Realty website.
This does not mean every property in Santa Teresa has been discounted, nor does it mean the featured 9-room hotel is currently reduced. Its current asking price is $2.45 million.
Instead, price reductions can create opportunities for buyers who are prepared to compare properties carefully, review the underlying financials and negotiate based on evidence rather than simply focusing on asking price.
The current Santa Teresa hotel inventory also demonstrates the range of opportunities available, from smaller income-producing hospitality assets to larger boutique hotels.
Who Is This Boutique Hotel Best Suited To?
This property could appeal particularly to:
Hospitality investors looking for an established boutique hotel rather than a ground-up development.
Owner-operators who want to combine business ownership with living in one of Costa Rica's most recognised surf destinations.
Lifestyle investors who want an income-producing asset in a walkable coastal location.
Experienced Costa Rica investors looking to add a hospitality property to an existing portfolio.
The property's existing operation means buyers can focus their due diligence on the current business performance, operating structure and opportunities for optimisation rather than starting entirely from zero.
Due Diligence Before Buying a Santa Teresa Hotel
Before purchasing a hotel or commercial property in Santa Teresa, buyers should investigate the complete asset rather than focusing exclusively on the building and location.Key areas include:
- Title and ownership
Confirm registered ownership and identify any liens, encumbrances or legal restrictions. - Zoning and permitted use
Verify that the existing hospitality operation and any proposed changes are legally permitted. - Water
Confirm the property's water source, documentation, capacity and legal status. - Construction and permits
Review construction records and applicable permits. - Financial performance
Request historical revenue, expenses, occupancy and operating statements. - Short-term rental operation
Review booking-platform history, reviews, cancellation rates and channel mix. - Utilities and infrastructure
Confirm electricity, internet, waste management, road access and other essential services. - Insurance and taxes
Review current costs and outstanding obligations. - Future expansion
Any proposal to convert existing staff or owner areas into additional guest accommodation should be assessed for feasibility and required approvals. - Purchase structure
Obtain professional legal, tax and financial advice before committing to the transaction.
Why Choose Coldwell Banker Sunset Reef Realty?
Buying property in Santa Teresa is about more than finding a listing online.
International buyers need local market knowledge, access to relevant inventory and a clear understanding of the practical issues that can affect a property purchase, from location and infrastructure to title, water, zoning and investment potential.
Coldwell Banker Sunset Reef Realty provides buyers with access to Santa Teresa property opportunities across residential, commercial, hospitality and investment categories.
The firm's current inventory includes boutique hotels, income-producing properties, villas, development opportunities and lower-entry investment options, allowing buyers to compare different strategies within the same market.
For an investor considering the featured 9-room boutique hotel, the next step should be a detailed conversation about the property's operation, documentation, financial performance and suitability for the buyer's investment objectives.
Explore This Santa Teresa Boutique Hotel
The 9-Room Boutique Hotel with Pool in Prime Location Walking Distance to the Beach is currently offered at $2,450,000.
With nine rooms, a pool, approximately 960 m² of floor area, seven parking spaces, a 2023 construction date and an existing income-producing operation, it represents a substantial hospitality opportunity in central Santa Teresa.
The strongest case for the property is its combination of walk-to-beach positioning, existing operation and accommodation capacity.
If you are considering purchasing a hotel, income-producing property or second home in Santa Teresa, speak with the Coldwell Banker Sunset Reef Realty team to discuss the current opportunity and compare it with other properties available in the market.
View the featured 9-room boutique hotel
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Frequently Asked Questions
How much is the boutique hotel for sale in Santa Teresa?
The 9-room boutique hotel is currently listed at $2,450,000.
How close is the hotel to the beach?
The property is approximately a two-minute walk from the beach.
Is the hotel currently operating?
Yes. The property is presented as an operating, income-producing hotel and is listed on short-term rental platforms.
Does the hotel have ocean views?
Ocean views are not the primary feature of this property. The guest suites are described as having garden or mountain views. Its main advantage is its central, walk-to-beach location.
Can the hotel be expanded?
The existing staff and owner's areas may offer potential for additional guest accommodation, but any conversion should be assessed for feasibility and the necessary permits and approvals.
Are there hotels for sale in Santa Teresa under $1 million?
Hospitality and income-producing opportunities below $1 million do exist in the wider Santa Teresa market, although availability changes. Buyers should compare the accommodation capacity, location, zoning and financial performance of each property rather than price alone.
Can foreigners buy property in Costa Rica?
Foreign buyers can generally purchase titled property in Costa Rica, although special rules can apply to Maritime Zone properties and certain concession arrangements. Professional legal due diligence is recommended.
Is private financing available for Costa Rica property?
Private lending can be one potential financing route, alongside home-country financing, local financing where available, equity and seller financing where offered. Terms depend on the buyer, lender and property.
What should I check before buying a hotel in Santa Teresa?
Buyers should review title, zoning, permits, water, utilities, financial statements, booking history, operating expenses, taxes, insurance and the legal structure of the business before proceeding.