Prime Location Development Site in Condado

Prime development site currently used as a surface parking accommodating approximately 80 vehicles and generating income. Located at the northwestern corner of Magdalena Avenue and Rodriguez Serra Street in the heart of the Condado Sector of San Juan. The site comprises 2,406.56 square meters of land area and it is located outside a flood prone area. Due to its central urban location, the site is served by all utilities and services. Improvements on the site include asphalt paving, gate, fences, and an operator’s cabin. Its current residential (R) zoning allows for a high-density development, consistent with its surroundings. With minimal new construction and and a very strong demand for new housing, any proposed development will benefit from a quick absorption and surging residential values.

• Ask Price: $7,460,000
• 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: 040-040-015-08, 040-040-015-09, 040-040-015-10 & 040-040-015-11