Opportunity Zone Property Santurce FOR SALE
Property Details
Property Description
Location: 1650 & 1652 Ponce De Leon Av. (corner Bolivar Street), Santurce Ward, San Juan, Puerto Rico
Description: The Property consists of two adjacent and contiguous commercial structures made of reinforced concrete and steel. There is a six-story, plus basement building having a gross building area of 19,445 square feet (leasable of 16,838 square feet) and the other structure is one-story plus basement with a gross building area of 4,258 square feet, for a total gross building area of 23,705 square feet.
The six story plus basement structure has a lobby area in the first floor that provides access to the elevator and a staircase that provides access to all levels. In all other levels except the basement, the elevator opens directly into the leasable area.
Most of the space on each floor is in shell condition, which represents a great investment for Opportunity Zone Funds.
Neighborhood: This location places this property about three miles southwest of the Luis Muñoz Marín International Airport and four miles southeast of the San Juan harbor, a major center of commercial and industrial distribution for the island of Puerto Rico. With a high population density and thriving economic activity, the municipality has in recent years improved its overall infrastructure to accommodate the needs of residential, commercial and industrial developments.
Ponce de Leon is one of the most notable thoroughfares on the Island and specifically in Santurce, has recently seen a surge in investment, restoration and revitalization.
