409 San Jorge

Description

Premium Commercial Property for Sale or Development in Santurce, Puerto Rico Address: 409 Calle San Jorge, Santurce, PR Property Overview: Building Size: 4,251 sq. ft. spread across two floors, plus additional square footage contained in 2 private terraces Lot Size: 650 sq. meters Parking: 13 dedicated spaces Equipment: Two generators and 2 water cisterns of 600 gallons each Location: Prime position in the thriving Santurce business district Investment Highlights: This versatile commercial property offers a unique opportunity for real estate investors. The existing structure can be utilized as office space, ideally suited for professional services, tech companies, or creative industries. Additionally, the property presents substantial redevelopment potential with the option to convert it into a 7-unit guest house with several private terraces, capitalizing on the growing demand for boutique accommodations in Puerto Rico's vibrant tourism market. With two terraces (12' x 14' and 8' x 23'), one balcony and the possibility of adding two additional terraces, 5 of the 7 units in a conversion strategy could have private outdoor space. Strategic Advantages: Prime Location: Situated in the bustling Santurce area, surrounded by businesses, restaurants, and cultural attractions. Flexible Use: Can be leased as office space or reimagined as a hospitality venture. Puerto Rico Act 60 Tax Incentives: Eligible for significant tax benefits, including exemptions and tax credits under the Puerto Rico Act 60 program, designed to encourage investment and economic growth on the island. Investor Appeal: With its central location, flexible usage options, and eligibility for Act 60 tax incentives, this property is well-positioned for investors looking to maximize returns, either through long-term leasing or redevelopment into a tourism project. Contact Us Today for detailed financial projections, additional property information, or to schedule a private tour.