Prime Investment Opportunity in Mae Phim, Rayong, Mae Phim

Prime Investment Opportunity in Mae Phim, Rayong

Arcadia Maephim Serviced Apartments – Just 80 Metres from the Beach

Asking Price: 40,000,000 THB

A rare opportunity to acquire Arcadia Maephim Serviced Apartments, a substantial apartment-hotel property in one of Mae Phim's most sought-after coastal locations in Rayong.

Situated in the heart of Mae Phim and only approximately 80 metres from the beautiful beach, this property offers an attractive combination of an established accommodation business, substantial existing floor space and significant potential for future redevelopment.

Whether maintained as an apartment hotel, renovated into a more premium accommodation concept, or explored as a potential condominium development, the property offers multiple possibilities for an investor looking to create long-term value.

Exceptional Location & Property Profile

The building occupies a 276 sqm plot and comprises six levels, with approximately 1,100 sqm of existing apartment space.

The current layout includes:

• Ground Floor: Reception area, restaurant and 3 apartments
• Floors 2–5: 5 apartments on each floor
• 6th Floor: Undeveloped space offering further development potential

In total, the property comprises 23 apartments in a variety of sizes and layouts.

The largest apartments are approximately 116 sqm, featuring an open-plan living and dining area with kitchenette, two bedrooms and en-suite bathrooms.

The property also includes studio apartments of approximately 20 sqm, together with other units measuring approximately 27, 48 and 63 sqm.

This variety of unit sizes provides flexibility for different accommodation concepts and target markets.

Additional 244 sqm Plot – Further Development Potential

An additional 244 sqm plot of land is located directly behind the building and is currently used for guest parking.

For a future owner, this additional land represents an important development opportunity, subject to planning regulations and the necessary approvals.

Potential concepts could include:

• A purpose-built parking structure
• Swimming pool and leisure facilities
• Additional accommodation units
• Expanded communal facilities
• A combination of parking and recreational space

Significant Value-Add Potential

One of the property's key attractions is the opportunity to unlock additional value through thoughtful renovation and redevelopment.

The undeveloped 6th floor could potentially be transformed into a substantial private residence or approximately 250 sqm penthouse, subject to the applicable regulations and approvals.

The rooftop area could also be reconsidered as part of a future redevelopment concept, while the rear land provides additional flexibility for improving the property's facilities and overall appeal.

Condominium Conversion – An Alternative Investment Strategy

For investors considering a condominium development, the existing building provides an interesting basis for further study.

Naina Rayong has compared the property with resale condominium units currently offered for sale in Mae Phim across five different condominium developments.

The average asking price of these comparable units is approximately 58,000 THB per sqm.

Based on approximately 1,100 sqm of existing apartment space, this equates to an indicative value of approximately 65 million THB based on the comparable asking prices.

It is important to note that the comparable condominium projects are generally newer and require less renovation. Any redevelopment strategy should therefore take into account renovation, construction, legal, planning and other associated costs.

Potential Common Area Fee Revenue

The comparable condominium developments reviewed charge approximately 45 THB per sqm per month in common area fees.

Based on approximately 1,100–1,350 sqm of apartment space, this could represent potential annual common area fee revenue of approximately 600,000–700,000 THB, depending on the final approved condominium layout and total saleable area.

The comparable developments also generally offer communal swimming pools, which could be considered as part of any future redevelopment plan.

A Property with Multiple Investment Possibilities

This property offers several potential strategies for a new owner:

1. Continue as an Apartment Hotel
Maintain the existing business model while improving the apartments, common areas and guest facilities.

2. Upgrade & Reposition
Renovate the existing apartments and facilities to create a more premium serviced-apartment or boutique accommodation concept.

3. Explore Condominium Development
Study the feasibility of converting or redeveloping the property into a condominium project, subject to applicable laws, regulations and approvals.

4. Unlock Additional Development Value
Make use of the undeveloped upper floor and the additional rear plot to potentially introduce new facilities, accommodation, parking or leisure areas.

Key Highlights

• Prime coastal location in central Mae Phim
• Approximately 80 metres from the beach
• Established apartment-hotel property
• 23 existing apartments
• The appartments have total 15 livingrooms, 33 bedrooms och 33 bathrooms
• Approximately 1,100 sqm of apartment space
• Six-storey building
• 276 sqm main plot
• Additional 244 sqm rear plot
• Existing restaurant and reception area
• Undeveloped 6th floor
• Potential for a substantial penthouse
• Potential rooftop and rear-land development
• Suitable for continued hotel/apartment operation
• Potential condominium development opportunity
• Attractive value-add potential for an investor with a long-term development strategy

Video:https://youtu.be/QkK6tGg-Fro?si=JiyQwnvJlNSiRwQ2

Year of Construction: 1976 and renovated in 2021

Property ID: CB-AMSA23

Asking Price: 40,000,000 THB

Naina Rayong Co., Ltd.
www.nainarayong.com
rayong.broker@gmail.com
nainarayong@gmail.com
Tel.: +66 92 545 32 87 | +66 82 594 15 29