Fully-Permitted Development Land with Views
Property Details
Property Description
Developed in an approximate 427 acres site home of the former El Comandante Horse Racetrack, Parque Escorial is a master planned community currently housing fourteen developments with a total of 2,528 units, supported by gated security access, basketball and volleyball courts, soccer field, tennis courts, clubhouse, children's playground, green and recreational areas, running tracks, and the Plaza Escorial Shopping Center, a regional mall with over 520,000 square feet of rentable area housing major tenants such as Sam’s Club, Walmart, Home Depot, Caribbean Cinemas, Office Max, Pet Smart, Burger King and Sizzler, among others. It is strategically located along State Road PR-3, right at the eastern boundary limits of the San Juan Municipality, just a 15-minute drive from the Luis Muñoz Marín International Airport, the Isla Verde Beach, and all prominent schools and educational facilities.
This offering refers to the remnant land within the master planned community known as the Mirador Parque Escorial II, III & IV parcels, comprising a total of 79.4364 cuerdas (77.15 acres) of land, and having permits for the development of 57 single-family residences, 27 town homes, and 144 walk-ups, with the potential of increasing density by over 100 units if desired. All infrastructure & utility connections are available at the site and its rolling to hilly topography at the uppermost area of the development provides for scenic views of the ocean, the city, the San José Lagoon, and the El Yunque Tropical Rainforest.
With minimal to no new construction in the San Juan Metro Area, a very strong demand, and rapidly increasing residential values, this property is a developer's dream!
- Ask Price: $7,980,000 OBO
- Land Area: 79.44 cuerdas, equivalent to 77.15 acres
- Tax Code #'s: 088-000-006-87-001; 088-000-006-88-000; and 088-061-031-13-000
- Annual Property Tax Expense: $3,893.83
- Coordinates: Lat: 18.38530514, Lon: -65.99860865
- Zoning: R-5 & BU
- Permits: The Property forms part of the Parque Escorial Master Plan Development and refers to the Mirador Parque Escorial II, III & IV parcels, having permits for the development of 57 single-family residences, 27 town homes, and 144 walk-ups (master site plan available), with the potential of increasing density by over 100 units if desired.
- Infrastructure & utility connections: All available at the site
- Topography: The site is at the top of a hill, enjoying a rolling to hilly topography which provides for scenic views of the ocean, the city, the San José Lagoon, and the El Yunque Tropical Rainforest.
- Flood Classification: X (outside flood prone area)
- Located in a Federally-designated Opportunity Zone Area
