This property is an 18,000 square foot building in the Sagrado Corazon area of Santurce, San Juan, Puerto Rico. The Sagrado Corazon area of Santurce is an up and coming area with lots of improvements, investments, and foot traffic in the area.
The property consists of 3 floors, each with approximately 6000 square feet. There are currently 2 operating businesses as tenants on the first floor. One business is a convenience store, restaurant, bar with 2 bathrooms. The other business is a restaurant with 1 bathroom. These businesses occupy approximately 30% of the first floor so there is much more potential for more businesses on the first floor alone.
The second and third floors are currently set up as apartments that do need repair and remodel work. The second floor has 6 apartments total, four 4 bedroom 1 bath apartments, one 3 bedroom 1 bath apartment, and one 1 bedroom 1 bath apartment. The third floor has 5 apartments, three 4 bedroom 1 bath apartments and two 3 bedroom 1 bath apartments.
The second and third floors can be repaired to be section 8 housing, long term rentals, short term rentals. Or, can be completely converted to different uses.
The property is a great investment opportunity in an up and coming area. Potential businesses include, but are not limited to, Restaurants, Bars, Nightclubs, Virtual Reality, Laser Tag, Beauty Salons, Doctor's offices, Real Estate offices, Dance Studios, Karate Studios, Short Term rentals, Long Term rentals, Section 8 housing, Storage Rentals, plus many, many more potential businesses. The opportunities for this property are endless with a lot of space to make your dreams come true. The property can house pretty much any business one can think of. A Buyer could also obtain tax credits for tourism development or long term housing development via Act 128. In addition, Sellers are willing to SELLER FINANCE which makes this even more of an attractive opportunity.
PROPERTY SPECIFICS AND DETAILS
Overview: 18,000 square foot building in Santurce with tons of potential uses and opportunities
Lot Size: 590 square meters
Number of Apartments: Currently 11 apartments, 6 on the second floor, 5 on the third floor. The apartments need remodeling and maintenance and can also be converted to different uses such as office, storage or many other potential uses
Number of Bedrooms: Currently 34 bedrooms
Number of Bathrooms: Currently 14 bathrooms, 11 in the current apartments on the second and third floors, 3 in the two open commercial businesses on the first floor.
