Coldwell Banker La Costa
Commercial Real Estate for Sale in Puerto Vallarta & Banderas Bay
Commercial property is the quietest part of this market and often the most productive. While buyers compete for condos, retail storefronts, plaza units, office space, boutique hotels, apartment buildings and mixed-use land trade with less noise, longer holds and yields that residential rarely matches. Coldwell Banker La Costa has read this market since 1986, from offices in Marina Vallarta, Zona Romántica and Sayulita.
What separates a good commercial buy here from an expensive lesson is rarely the building. It is the paperwork behind it: uso de suelo, permits, lease quality and the ownership structure you use to hold it. We check those first, then talk about price.
What we broker
The numbers behind the building
Headline rent tells you very little in a tourism economy. We underwrite from the leases and the tax position, and we tell you what we cannot verify.
Where commercial demand sits
Banderas Bay spans two states, and Jalisco and Nayarit set their own rules on permits, taxes and closing. Puerto Vallarta, Bahía de Banderas and Compostela each administer land use separately, which is why a plan that works in Bucerías may not work in Sayulita.
Buying the building, or buying the business?
The two trade differently. A commercial property is bought as real estate and closes before a notario público. A going concern on leased premises, what is called a traspaso locally, transfers equipment, inventory, staff, permits where transferable and the lease itself. Some opportunities are both. If you are looking at operating businesses rather than buildings, see businesses for sale in Puerto Vallarta. For the ownership and closing process generally, start with our guide to buying in Mexico.
Selling or leasing a commercial property
Commercial assets need a different marketing file than a home: a clean rent roll, verified uso de suelo, a documented expense history and a defensible price. We build that file, then place it through the Coldwell Banker network and a database of more than 24,000 contacts, discreetly where a tenant or a staff should not learn the asset is on the market.
Common questions
Answers to what commercial buyers ask first. Confirm anything specific to your purchase with a Mexican attorney and accountant before you commit.
Can a foreigner buy commercial property in Puerto Vallarta?
Yes. The bay sits inside the restricted zone, within 50 kilometers of the coast, so a foreign individual holds property through a fideicomiso, a Mexican bank trust with renewable 50-year terms. Commercial buyers have a second route: under the Foreign Investment Law, a Mexican company with foreign shareholders may take direct title inside the restricted zone when the use is non-residential, with notice to the Secretaría de Relaciones Exteriores. Which is better depends on your tax position and your exit, so model both before you offer.
What is uso de suelo and why does it decide the deal?
Uso de suelo is the municipal land-use designation that sets what a property may legally be used for. It comes from the municipal plan, not from how the building is occupied today, so a space operating as a restaurant does not prove the use is authorized. Before closing, obtain a current constancia or dictamen de uso de suelo, and for development confirm permitted density, height and parking. Puerto Vallarta, Bahía de Banderas and Compostela each run their own rules.
What are closing costs on a commercial purchase?
Budget roughly 4 to 8 percent of the price: acquisition tax (ISAI), notario fees, public registry recording, appraisal and certificates, and the fideicomiso setup and first annual fee where a trust is used. Commercial transactions can also carry IVA at 16 percent on the construction value, with land treated differently, so confirm the IVA position with your accountant before the offer rather than at signing. The seller pays the real estate commission.
Do commercial leases carry IVA?
Yes. Rent on commercial premises is subject to IVA at 16 percent, while residential rent is exempt. Landlords register with the SAT, hold an RFC and issue CFDI invoices to tenants. Foreign owners of Mexican rental income also carry ISR obligations. Underwrite from the after-tax number, not the headline rent.
What documents should I request before offering?
The escritura and any fideicomiso instrument, a current certificado de libertad de gravamen, proof that predial is paid, the constancia de uso de suelo, construction and occupancy permits, cadastral and survey data, condominium regime documents and HOA statements, all leases and deposits, and the CFE and water accounts. For hospitality or food and beverage, add the municipal operating license and any alcohol, health or tourism permits, and confirm which transfer.
Are cap rates higher than on residential rentals?
Often, and for reasons that cut both ways. Commercial tenants sign longer leases and carry more of the operating cost, which supports yield. They also concentrate risk in fewer tenants, and in this market many of those tenants depend on visitor season. A single vacancy moves the return far more than it would in a condo portfolio. We stress test the rent roll against low season before quoting any capitalization rate.
Can you help me sell or lease my commercial property?
Yes, on both sides. That includes a valuation built from documented income and expenses, verification of uso de suelo and permits before we market, a marketing file aimed at investors rather than end users, and discreet handling where tenants or staff should not learn the asset is listed.
Information on this page is general in nature and is not legal, tax or accounting advice. Commercial purchases in Mexico should be reviewed with a licensed Mexican attorney, a notario público and an accountant. Jalisco and Nayarit maintain separate state regulations, and land use is administered by each municipality. All information is deemed reliable but not guaranteed.
Coldwell Banker La Costa Realty fully supports the principles of the Equal Opportunity Act and the Fair Housing Act. Each office is independently owned and operated. ©2025 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are registered trademarks of Coldwell Banker Real Estate LLC.
