NEW LISTING

56 & 56A KING STREET
CHRISTIANSTED, VI
LISTED FOR $6,500,000
MLS #20-1707Great opportunity to own one of  St. Croix’s finest investment properties in downtown Christiansted and located within the opportunity zone. Whether you are an investor or looking to move your company to St. Croix to take advantage of the EDC benefits, this property is a great investment.

Hamilton House is a grade A commercial building with a solid rental history and located across from the historic Government House, just minutes away from banks, offices, restaurants and the iconic boardwalk. The beautiful 18^th century façade and building towards the street has been preserved with its traditional Danish arches seen throughout Christiansted. The remaining part of the building was built in 1972 and after.

Hamilton House has 33,000+ square feet over four floors of well laid out office and retail space. Hurricane resistant windows and a new roof was installed in 2017. A newly installed elevator system provides access to all floors in the building. The property has two fully automatic Onan generators (350K and 100K) and can power the building. ABBAS compliant throughout most of the building.

The Grotto 

The lower floor consists of a large open space with beautiful brick arched doors leading out to an inviting courtyard. The french doors adds character and provide light to the space. This space could easily be divided to accommodate multiple store spaces, a café/ restaurant or set up as offices. The bathrooms are ABBAS accessible. 

First floor 

Photos coming soon. The first floor consists of a large retail space towards the road which is easily divided and seven offices to the back of the first floor.

Second floor

Photos coming soon

Consists of 16 offices and 2 large and one smaller conference rooms is almost done with an extensive renovation of the space and has zoned AC throughout of 16 offices, 2 large and one smaller conference rooms.

Third floor 

Newly renovated class A-1 office space with 13 offices, open spaces with cubicles, conference rooms and break room A central air, ADA compliant bathrooms and is accessible by stairs or the newly installed large elevator.

There are numerous options for dividing and renting the spaces to maximize their full rental potential. Whether you are an investor or looking to move your company to St. Croix to take advantage of the EDC benefits this property is a great investment.

Some helpful links:

Opportunity Zones  and other Tax Incentive Programs

The United States Treasury approved 14 different neighborhoods on St. Croix and St. Thomas as being Qualified Opportunity Zones, meaning they are eligible for federal tax breaks under the Tax Cuts and Jobs Act, passed by Congress and signed into law by President Donald Trump in December.

FAQ about Opportunity Zones

United States Virgin Islands Economic Development Authority online brochure on Opportunity Zones

The Economic Development Commission (EDC) tax incentive program

The Economic Development Commission (EDC) offers a unique and attractive tax incentive program for companies located in the USVI. This is a competitive offshore tax benefit program that is sanctioned by the U.S. Government. Below are some of the benefits your business can reap if eligible for the EDC program:

• 90% reduction in corporate income tax
• 90% reduction in personal income tax
• 100% exemption on gross receipt tax
• 100% exemption on business property tax
• 100% exemption on excise tax payments
• Reduction in the customs duty from the standard 6% to 1%
• Tax reduction on royalty income from software developed in the USVI and sold to non-US customers
• Availability of rental space at below market rates in the St. Croix and St. Thomas Industrial Parks.

Information from www.usvieda.org

For more information and to schedule showings please contact:

Sanni Craft, sanni@coldwellbankervi.com, 340-626-0737

Property Details