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Hato Rey Residential Conversion - FOR SALE

  SOLD June 2024 for $8,800,000

1058 Av. Luis Muñoz Rivera, San Juan 00924

Building Size98,227 Square Feet
Land Size3,068 Square Meters
ZoningC-2 Commercial

This is an 8-story commercial office building, formerly the home of Fomento Cooperativo, and referred to as Golden Mile Building, consisting of approximately 100,000 square feet supported by approximately 225 parking stalls.

This property is centrally located in the periphery of the Hato Rey financial district, perfectly positioned with direct access to Luis Muñoz Rivera, Ponce de Leon & Jesus Piñero Avenues, and State Roads PR-1 & PR-3, all significant traffic arteries within the downtown central business district of Hato Rey in San Juan.

Whether reactivating as an office building or converting to a residential condominium building, hotel, multi-family, or mixed-use development, among others, the future owner of this asset will have strong upside potential due to the strategic location, strong demographics, and existing improvements including a solid building structure and parking garage. Another potential use with strong demand in the immediate vicinity is to reposition as student housing given its proximity to the University of Puerto Rico, Rio Piedras Campus.

Don’t miss this unique re-development opportunity!

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Property Highlights

Address: 1058 Av. Luis Muñoz Rivera, San Juan, PR

Site Area: (3,068 sq. meters) (4,930.5 sq. ft.) (.78 cuerdas)

Building Area: 98,227 gross sq. ft.

Parking: 250 stalls

Coordinates: 18.39988N, -66.05652W

Zoning: C-2 (Commercial Central Intermediate)

Flood Zone: Zone X

Seller Financing: Subject to negotiation

The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.

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