61 CALLE VIVES Ponce 00730

Located on Calle Vives in downtown Ponce, Edificio Magali is a commercial property in a historically significant and commercially active area of southern Puerto Rico. Situated within the city's traditional urban center, the property is near Plaza Las Delicias, Parque de Bombas, Paseo Atocha, financial institutions, restaurants, professional offices, retail establishments, and public transportation routes. The building provides approximately 8,737 square feet of construction across multiple levels. While functional and structurally sound, the building requires modernization and improvements. Historically used for commercial purposes, the property currently has partial occupancy with rental agreements established below prevailing market levels. This presents an opportunity for a new owner to optimize income through rental adjustments, renovation, or repositioning of the property’s commercial use. Its location in Ponce’s downtown district offers visibility, pedestrian accessibility, and proximity to key commercial and cultural attractions. The property may be eligible for economic development and tax incentive programs, including municipal development initiatives, small and medium-business support programs, and potential participation in incentive programs under the Puerto Rico Incentives Code (Act 60 of 2019) for qualifying commercial activities. Businesses may also benefit from local initiatives such as the “Hecho en Ponce” program. Additional opportunities may exist related to urban center revitalization programs, property rehabilitation initiatives, or economic development incentives for historic downtown areas. This property is suitable for investors, developers, or business owners seeking to establish operations, office space, retail concepts, hospitality, creative spaces, or mixed-use projects.