Income Producing Single-Tenant NNN Lease

Property Description

Introducing a premium investment opportunity in the heart of Hato Rey, San Juan—209-211 Eleanor Roosevelt Avenue. This 16,634 square foot free-standing retail building is fully occupied by a single, nationally recognized tenant, HCOA Fitness, a leading gym chain with a proven track record and strong brand presence.

With a brand-new 10-year absolute NNN lease in place, the property offers zero landlord responsibilities, making it an ideal opportunity for passive investors seeking stable, long-term income. The lease includes 8% rent increases every five years, enhancing net operating income over time and providing a built-in hedge against inflation. Priced at $4,550,000 or best offer, this asset presents a compelling combination of cash flow strength and long-term value appreciation potential.

Strategically located in San Juan’s central business district, the property offers strong visibility and accessibility along Eleanor Roosevelt Avenue, one of the city’s most active commercial corridors. It is just minutes from Plaza Las Américas—the Caribbean’s largest shopping mall—and the José Miguel Agrelot Coliseum, known as the Choliseo, which draws consistent crowds for concerts, sports, and large-scale events.

The site is zoned C-1 (Commercial) and sits on over 21,500 square feet of land. It includes 40 dedicated parking stalls, a full-capacity backup generator, and a functional two-story layout designed to support high-traffic, service-oriented commercial use. With its strong tenant, passive structure, and prime location, this property is perfectly positioned to deliver long-term value in one of San Juan’s most dynamic business districts.

Location Description

Discover the dynamic neighborhood of Hato Rey, San Juan, PR, where the property is located. This vibrant area is a commercial epicenter, with an array of office buildings, retail centers, and cultural attractions. Just moments away, you'll find the renowned Plaza Las Américas, the largest shopping center in the Caribbean, offering a diverse mix of retail, dining, and entertainment options. The nearby José Miguel Agrelot Coliseum, known as the "Choliseo," hosts major concerts, exhibitions, and events, adding to the lively atmosphere of the area. With its strategic location and thriving business community, Hato Rey presents an exceptional opportunity for commercial building investors seeking a prime investment in San Juan.

Highlights

• Asking Price: $4,550,000 or Best Offer
• 1st Year Cap Rate: 8.8%
• Single-Tenancy: Founded in 2010 and with its headquarters in Miami, Florida, HCOA Fitness is a leading gym chain in Puerto Rico having 14 locations, 114 employees, strong customer loyalty, and proven growth.
• New 10-year lease with two 5-year renewal options, offering long-term stability, land & building ownership, and tax benefits through depreciation.
• 1st Year NOI: $400,000
• Eight percent (8%) rent increments every five (5) years, boosting NOI, cash flows, and providing an inflation hedge with value appreciation potential.
• Absolute NNN lease with zero landlord responsibilities - HCOA handles all building expenses, repairs and maintenance.
• Ideal for passive investors: Single-tenant absolute NNN lease offers hassle-free management with tenant covering all expenses.
• Site Area: 2,000 square meters, equivalent to 21,527.82 square feet
• Site Shape: Rectangular
• Topography: Level, at street grade
• Access & Frontage: through Eleanor Roosevelt Avenue
• Zoning: C-1 (Commercial)
• Flood Classification: 0.2 PCT
• Parking Spaces: 40
• Improvements: 16,634 square feet 2-story building
• Power: LUMA & Full-operating capacity power generator.
• Financial data available upon request.

Property Video: Income Producing Single-Tenant Absolute NNN Lease - FOR SALE