Redevelopment Site Santurce

Vacant Land for Sale
Catylist Listing ID: 30865334
Property Subtypes: Industrial, Multi-Family, Office, Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 5,000 SF
Sale Price: $469,000
Unit Price: $93.80 PSF
In Opportunity Zone? Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/15/2024

Overview / Comments

Situated at the intersection of Calle Nueva Palma and Calle America adjoining PR 2, which is the main north-south traffic corridor in and out of Condado in the Santurce district of San Juan, this commercial property offers a significant redevelopment opportunity.

The site covers an area of approximately 5,000 square feet +/-(subject to survey verification) and level topography and is an L-shaped site, allowing for diverse design possibilities. The property currently contains structure at the end of its economic life, presenting the opportunity for removal and redevelopment by a new owner. It will make an excellent site for the assemblage of surrounding parcels to enhance the value of the land through plottage.

Zoned ZU-G5, a general zoning category in Santurce, the site permits a wide range of commercial uses. This flexibility makes it an ideal location for various business ventures, including retail spaces, office buildings, or other commercial projects. This zoning may also allow for some residential uses. This listing is focused on the land and its redevelopment potential.

There is no value in any structure on the site. Interested parties are advised to conduct thorough due diligence to verify site details and explore the property's full potential. For inquiries or to arrange a viewing, please get in touch with the listing broker.

Additional Details

Nearest MSA: San Juan-Bayam?n-Caguas
County: San Juan
Taxing Authority: San Juan
Tax ID/APN: 040-068-258-14-901
Zoning: ZU-G5
Property Visibility: Good
Largest Nearby Street: PR2
Zoning Description: 6.10 Zone of General Use Five (ZU-G5) - This zone is established to delineate those areas that due to their intensity of primarily commercial wholesale, market (fruits, vegetables and animals) or industrial use, makes the coexistence of a nearby residential use extremely difficult. In this area, the use of selected shops, services and light industries is allowed throughout the structure. Residential uses in this area of use are optional. Residential uses, if any, will be provided with access from the public road with an independent vertical communication core and differentiated from the rest of the uses. The allowed uses are described in the Table of Uses. The allowed uses are described in the Table of Uses. 6.10 Zona de Uso General Cinco (ZU-G5) - Esta zona se establece para delinear aquellas áreas que por su intensidad de uso primordialmente comercial mayorista, de mercado (frutas, vegetales y animales) o industrial, hace extremadamente difícil la coexistencia de un uso residencial próximo. En esta zona se permite el uso de seleccionados comercios, servicios e industrias livianas en la totalidad de la estructura. Los usos residenciales en esta zona de uso son opcionales. Los usos residenciales, de existir, serán provistos de acceso desde la vía pública con núcleo de comunicación vertical independiente y diferenciado del resto de los usos. Los usos permitidos se describen en la Tabla de Usos . Los usos permitidos se describen en la Tabla de Usos .
Development Name: Santurce
Topography: Level
Available Utilities: Electric, Water, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,888 200,912 441,995
Median Age: 45.22 40.23 39.43
Households: 15,413 89,347 185,128

Contact

Photograph of Listing Agent

Chris Baker, MAI, CCIM, CPM

Palms Realty
Gulf Coast CMLS Member
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