This fresh and exciting new development in downtown Nassau has been fully renovated and is now open, offering a wide range of shops, tour guides, ateliers, cafes, and restaurants, as well as bright and sunny co-working spaces on the upper floor.
Just minutes from the cruise port, the Elizabeth on Bay Plaza was recently purchased in June 2022 and is currently 95% occupied by lease. It features a 16-slip marina, two arcade entrances, security, groundskeeping services, as well as full standby generators. Parking is available at the Villanova parking lot on Elizabeth Avenue.
These rentals are excellent value for money. Just west of the property, the rents are far higher per square foot. Currently, the market average for downtown Nassau is BSD $45 per square foot. The Elizabeth on Bay Plaza is listed at $30 per square foot, and the arcade spaces at $27.00 per square foot will increase by 4% annually.
The co-working spaces located on the first floor were opened in April 2023, and there has been high demand for these from both domestic and international tenants. The second phase is near completion and already 100% occupied. We anticipate another spike in demand for these units during the next tourism season. These units run from about $1,000 per month for a 400-square-foot office to about $7,500 per month for a larger team space.
Wide Range of Shops and Amenities
The Elizabeth on Bay Plaza has it all. Several of the plaza storefronts face Bay Street directly, including Native Arts and Crafts on Bay, which offers an exceptional collection of indigenous arts and crafts made by local artisans. Here you can discover authentic expressions through wood carvings and vibrant paintings that capture the Bahamian lifestyle. There is also Fabulous Ronnie Hair Clinic, which offers hair styling and a full-service trichology clinic.
Within the plaza, tourists should stop at Nassau Jeep Adventures – they offer thrilling tours across the island aboard custom jeeps. The nautical community is also served by Freeport Ship Services, a leading ship and logistics agency that provides comprehensive services to vessels, such as customs brokerage and port agency operations.
Tourists and locals alike can benefit from the many conveniences offered within Elizabeth on Bay Plaza. Millions of tourists visit the port and go shopping in the downtown area every year. These properties benefit from the foot traffic, making it highly attractive as a business location. Contact us today for a viewing!
