Prime Location Development Site in Condado

Property Description

This property currently serves as a surface parking lot with space for approximately 80 vehicles, generating steady income. It spans 2,406.56 square meters and is zoned residential (R), which allows for high-density development in line with the surrounding area. The location offers a unique opportunity for investors or developers, as there is high demand for new housing and limited new construction. This site promises quick absorption and rising residential values. The seller is motivated, offering a strategic investment opportunity in this prime location.

Location Description

The property is situated in the Condado sector of San Juan, a prime area known for its central urban setting. It is surrounded by a variety of amenities, including restaurants, hotels, fast food outlets, banks, grocery stores, and pharmacies. Ashford Hospital, a key landmark, is just two blocks away. Nearby are also schools such as Robinson School and St. Johns, and the Stella Maris Church. The site is located at the northwestern corner of Magdalena Avenue and Rodriguez Serra Street, outside of flood-prone areas, and is easily accessible with all utilities and services available.

Highlights

• Site Area: 2,406.56 square meters, equivalent to 25,904 square feet and/or 0.59 acres.
• Zoning: Residential (R)
• Flood Classification: Zone X (Outside of Flood Prone Area)
• Site Coordinates: 18.4545757, - 66.0677145
• Property Tax Id: 040-040-015-23

Property Video: Prime Location Development Site in Condado - FOR SALE