Río Piedras Commercial Building

5-story commercial-office building comprising a Gross Building Area (GBA) of 116,149 square feet and a rentable area of 112,320 square feet, evidencing a mostly shell (unimproved) condition, except for the second and third levels, which evidence an overall average physical condition. Construction materials include a concrete slab foundation, a concrete block structural frame, exterior walls made of blocks, a flat built-up roof with modified bitumen, and tempered glass windows in aluminum frames. Interior finishes for the second and third levels include vinyl floor tiles, painted drywalls, acoustic ceiling tiles, and recessed incandescent and fluorescent lights. The building is supported by central A/C (2nd and 3rd floors), three non-operating elevators, his and hers bathrooms on each level, 114 parking spaces, and perimeter fencing.

https://aldia.microjuris.com/2024/08/29/conoce-el-nuevo-incentivo-dirigido-al-desarrollo-de-viviendas-en-los-centros-urbanos/

House Bill 2172 in Puerto Rico seeks to encourage housing development in the urban centers of municipalities to revitalize these areas, combat depopulation and improve the local economy. It proposes amendments to the Incentives Code (Law 60-2019), introducing tax benefits for residential projects in these strategic areas. The incentives include a fixed contribution of 4% on income, partial exemptions from taxes on property and municipal licenses, and tax credits of up to 40% on the eligible investment. The measure aims to resolve the need for housing and boost the urban economy.

Tax Code Number: 063-053-223-51-000
Gross Building Area: 116,149 SF
Rentable Area: 112,320
Site Area: 5,058 Square Meters
Topography: Leveled
Zoning: C-3 (Central Commercial). Medium-density commercial use
Stories: Five (5)
Parking: Approx. 114 Stalls
Frontage: Barbosa Avenue
Construction Materials: Masonry blocks and reinforced concrete
Floor Cover: Mostly exposed concrete, except for levels 2 and 3 which have vinyl tile
Doors: Security steel doors and semi-solid wood doors.
Ceilings: Exposed concrete in most areas, except for levels 2 and 3 which have acoustic tiles
Fire sprinklers: Yes (Partial)
Elevators: Three (3)